David Knight

Founder of @CurrenC_CRNC, Fixed-supply digital asset
Crypto since 2018 • FX since 2001
Exploring how digital assets become usable money

[David Knight @davidknight_eth]

CRNC milestone: Retail purchase without selling — still held on ETH L1 🍾

POC#1 Completed: Bought this pack of gum using CRNC (ERC20 token) as collateral, borrowed USDC

$CRNC unlike most assets:
- fixed supply
- immutable
- no governance
- native ERC-20 on Ethereum

In this test:
- CRNC remained in its original form on L1
- No wrapping
- No bridging of the asset
- No structural change
- The asset never moved
- Only the liquidity did

Flow:
Collateral → borrow → spend → repay → reclaim

Where this goes next (Ethereum roadmap):
Full lifecycle on L1
Lower fees
Faster execution
Improved privacy

[David Knight @davidknight_eth]

@jack__sanford Code security is essential, but design security matters too. Admin controls, upgrade paths, governance dependencies, oracle assumptions and liquidity control can create risk even when the code works as intended. Reducing those dependencies should be part of making DeFi safer :)

[David Knight @davidknight_eth]

Be careful with “all in” advice from anyone with a major stake in the outcome.

Bitcoin is scarce, but scarcity does not end with Bitcoin. Other fixed-supply assets use different designs, with different exposure to mining and quantum risks.

Conviction is not full risk analysis.

[Cup @cryptocupra]

🇺🇸MICHAEL SAYLOR:

“WORKING HARD IS THE WORST ADVICE YOU CAN GET.”

“AI WILL OUTWORK YOU.”

“ROBOTS WILL OUTWORK YOU.”

“YOUR SKILLS ARE BEING DEMONETIZED.”

“YOUR LABOR IS LOSING VALUE EVERY SINGLE DAY.”

THE PEOPLE WHO KEEP SELLING THEIR TIME WILL STRUGGLE.

THE PEOPLE WHO OWN SCARCE ASSETS WILL WIN.

THIS IS WHY I’M ALL IN ON BITCOIN.

YOU CAN ALWAYS PRINT MORE MONEY.

YOU CAN ALWAYS BUILD MORE COMPANIES.

YOU CAN NEVER CREATE MORE THAN 21 MILLION BITCOIN.

THE WORLD IS CHANGING FASTER THAN MOST PEOPLE REALIZE.

ADAPT…
OR GET LEFT BEHIND.

[David Knight @davidknight_eth]

@casparschwa Agreed. What I appreciate as a builder on Ethereum is the prioritization of security, while improvements to speed and cost are pursued without compromising that foundation.

[David Knight @davidknight_eth]

@ODELLXYZ GM ☕️ Consider diversifying a tiny portion of portfolio to BTC-like assets built on ETH L1, testing durability of a like asset outside of Bitcoin rails.
CRNC

[David Knight @davidknight_eth]

@scottmelker Love the subtle change of wording.

However, this implies an end is coming soon, or perhaps a next chapter which inevitably includes a change. Against the core of what BTC is about.

[David Knight @davidknight_eth]

@BitcoinGambit I love the choice of focal character.

[CurrenC @CurrenC_CRNC]

CurrenC has permanent and continuously growing ETH liquidity in its Uniswap v2 pool.

- 90% of supply paired with ETH at launch
- LP tokens burned from day 1
- No one can pull the liquidity
- 0.3% tx fees stay in pool forever

ETH in pool now >100% of circulating CRNC.

[David Knight @davidknight_eth]

@ETH_Daily Interesting concept. Feels like an LP token by merging the current options of borrowing against crypto or swapping it when spending.

What I'm looking forward to is tx speed and cost for retail usability on Eth L1.

[David Knight @davidknight_eth]

@BitcoinGambit @Cryptocito @Tristan0x15 Assuming you're referring to store of value, medium of exchange, and unit of account, I think we're talking about two different things.

You're describing the functions of money.

I'm questioning why the monetary asset and the underlying infrastructure need to be inseparable.

[David Knight @davidknight_eth]

@CoinMarketCap This is one of the reasons I was inspired by the idea of a Bitcoin-like asset built on Ethereum.

The asset can remain immutable and fixed while the network beneath it continues to evolve, adapt, and improve over time.

[Nico @ncsgy]

Ethereum can already start preparing accounts for a post quantum world, without waiting for a hard fork.

Today, it would be just 0.07$ .

Further audits incoming. Though I squeezed in a review with Fable before Uncle Sam crashed my party. Verity formal proof included for my lean enjoyers

https://t.co/hfOx08X17Q

[David Knight @davidknight_eth]

@digitalassetbuy My concern with XRP has always been the concentration of supply and the influence that came with it.

That's why the comparison being made here is interesting.

[CurrenC @CurrenC_CRNC]

Quick morning update.

Over the next several weeks I’ll be sharing short videos breaking down CRNC one topic at a time: asset design, fixed supply, Ethereum, liquidity, POCs, and why the project was structured this way.

More coming.

[David Knight @davidknight_eth]

@cryptoupdate_io @sophiadew For a monetary asset, once transactions are measured in fractions of a cent and seconds, speed and cost matter far less than security, decentralization, and durability.

The case for Solana may be stronger in other categories.

[David Knight @davidknight_eth]

Growing 23% from Ethereum's existing scale is no small feat.

The challenge isn't adding features. The challenge is maintaining decentralization, security, and economic gravity while continuing to grow.

Ethereum mainnet still appears to be doing that.

[Leon Waidmann @LeonWaidmann]

While most L2s are bleeding users, @Celo is up +41% over the past year! 📊

🔹 Celo: +41% 🟢
🔹 Ethereum: +23% 🟢
🔹 Polygon: +1.5%
🔹 Arbitrum: -44% 🔴
🔹 Base: -82% 🔴
🔹 OP Mainnet: -89% 🔴

Almost every chain shed users in the last 365 days.

Only a handful actually grew, and Celo leads them.

One honest note: the last 30 days cooled off (-20%), so the near-term momentum has softened.

But on the annual trend, Celo is firmly pointing up.

Real usage is consolidating onto the chains people actually want to use. 📈

Data via @growthepie_eth

[CurrenC @CurrenC_CRNC]

Follow-up after yesterday’s CRNC activity and feedback.

The focus remains simple:

Asset: finished w/ fixed supply, immutable rules
Network: Ethereum L1 with a solid roadmap
Protocols: CurrenC exploring new integrations. See POCs in link

More coming.

[David Knight @davidknight_eth]

@judthedev The asset itself is finished.

Dev work is on infrastructure and proving utility around it -- basically around the asset, not to the asset.

For example, the current focus is expanding the Morpho POC to demonstrate native borrowing and lending using CRNC directly on Ethereum L1.

[David Knight @davidknight_eth]

@0xblackchip @judthedev Indeed it appears!

CRNC's entire 21M supply entered circulation on day 1, leaving no additional allocation to deploy.

Like Bitcoin, CRNC wasn't VC funded, so discovery and evaluation are entirely organic.

Encouraging to see more people discovering.