_gabrielShapir0

16-yr corporate attorney, now tokenizing companies at @MetaLeX_Labs

ex-BigLaw Buyside Tech M&A (Weil, Hogan Lovells)
ex-@Delphi_Labs GC
@BrownUniversity grad

[_gabrielShapir0 @lex_node]

Tokenization shouldn't require brokers, transfer agents, or custodians.

Today MetaLeX is releasing Mainframe, a new app for directly tokenizing any security on MetaLeX's one-of-a-kind autonomous protocol.

It's free & unruggable. We are happy to consult/partner on use cases.

[MetaLeX @MetaLeX_Labs]

https://t.co/FkaHbP6eRG

[_gabrielShapir0 @lex_node]

@TaikiMaeda2 I think you and I might be the only americans locked in MEGA lol

[Topher @TopherGMI]

Perfect quote from @HesterPeirce today

"Make tools available that empower your users to see what is happening onchain and offchain. Figure out what the right balance of centralization and decentralization is for your project and be transparent with the public about the trade-offs you have made and the resulting risks to users. And, more generally, be honest."

Transparency/communication/investor relations is value accretive to markets (your token)

[Mike Dudas @mdudas]

The vast majority of bad behavior, structural token problems, terrible distributions and price action that gets attributed to VCs over the past 4 years was due to founders and team members.

It’s an odd blessing that many of these folks are so greedy that they keep screwing each other over and suing one another so the stories become public record via the court system.

[XY @xydotdot]

BTC is dead to me.

For the first time since 2014, when my usual “should I buy BTC?” friends came for their scheduled emotional support hotline, I told them no.

I am confident there is no longer a trade in BTC because the original trade is gone.

BTC was the first memecoin.

Do not waste time @'ing me, to me it is obvious.

As you all know, every great memecoin needs a narrative powerful enough to make people believe they are doing something more meaningful than buying an asset from someone else. BTC had the best narrative of all time.

Rebellion against inflation, fiat, banks, central banks, and the establishment.

That was the narrative. But what mattered more was the raw engine underneath it: ESCAPE.

BTC gave ordinary people the first internet native asset that could plausibly let them escape the rat race without needing access to the incumbent class. Before BTC, immense wealth creation was mostly gated by proximity. You needed access to early equity, private deals, high finance, institutional networks, valuable real estate, or some other lane controlled by people already inside the system (Boomers). BTC changed that because anyone online could buy the asset before the ruling class.

That was BTC’s trade and its monopoly.

It gave ordinary people a way to escape the rat race by opting out of a system that had kept access, upside, and wealth creation mostly in the hands of the incumbent class.

The rebellion was the story -> The escape was the trade -> The monopoly was being the only asset online that could credibly offer both.

That monopoly no longer exists.

The irony is that BTC created the blueprint for the world that made BTC less important. It taught the internet that an asset did not need traditional fundamentals if it had belief, liquidity, attention, narrative, and enough people willing to treat the trade as a way out.

Financial nihilism + magic internet money.

That is the blueprint BTC gave the world. Forget fundamentals. Trade the narrative. Coordinate online. Let the greater fool mechanism create wealth for the people who arrived early enough.

Think about it......Since BTC, every market has been hyper gamblified. Stocks trade like memes. Coins trade like memes. AI tokens trade like memes. Prediction markets trade like memes. Anything that lives on the internet can become a trade, a belief system, and a possible escape hatch from the rat race.

BTC was powerful when it was the only internet asset that gave outsiders a credible way to get rich before the establishment arrived. Now the internet creates that setup constantly.

BTC also lost the rebellion narrative. Institutional adoption killed that part of the story. The asset that started as a way to opt out of the system is now owned through ETFs, marketed by asset managers, held by corporate treasuries, and represented culturally by Saylor running a balance sheet strategy.

BTC lost the 2 things that made it matter.

It lost the rebellion because the establishment absorbed it.

It lost the escape monopoly because every internet asset now competes to become the next rat race exit.

The store of value story was always secondary. The inflation hedge story was always secondary. The hard money story was always secondary. The main function was escape.

BTC was the first trade that made outsiders believe they could beat the system from outside the system.

Now that function lives everywhere.

To all the BTC maxis, with love.

-XY

[_gabrielShapir0 @lex_node]

.@BioLLM_ 's ACE round has launched on @MetaLeX_Labs!!! very cyberpunk project seeking to bridge neurobiology with AI

buy equity in their company with your $BIOLLM tokens!

get all the details in their article below.

[BioLLM @BioLLM_]

https://t.co/lehSvCiMDq

[Eli Ben-Sasson | Starknet.io @EliBenSasson]

The only right narrative is Satoshi’s: “allow any two parties to transact with no third party intermediary”.

So op_cat and op_stark is what he’d call for.

[Roman Storm 🇺🇸 🌪️ @rstormsf]

I hate asking for money. But that’s how the system works.

Legal defense isn’t free, and I need the community’s help to keep fighting.

Please donate, share, or retweet → https://t.co/lx9E4ILDrn

Until this case is dismissed, building DeFi - protocols, UIs, tooling carries real legal risk for everyone in this space. The outcome here affects all of us.

[_gabrielShapir0 @lex_node]

@trent_vanepps @fundstrat it will likely have to change as I mentioned, just think it's much better to do it later when prover role & rewards for that are defined etc., one of the worst things for ETH perceived investability is the perception of active FED-style monetary policy management

[_gabrielShapir0 @lex_node]

it's better to change it later because it will need to be changed again anyway to create rewards to provers etc., a role that doesn't even exist now & therefore can't be baked into a decision today

inflation is not that high relative to other chains/currencies and this is not a 'hair on fire' issue the way some people (who run their own validator setup businesses that will benefit from this) are portraying it

[William Mougayar @wmougayar]

@lex_node Staking yields are sacred territory.
ETH's inflation is so minute and a blip in the grand scheme of things. To put things in perspective, the daily issuance is ~ $3.5M vs. a trading volume of $25 Billion! It's nothing.

[_gabrielShapir0 @lex_node]

@jdetychey @trent_vanepps @fundstrat I think if one of Ethereum's largest stakers is in support of issuance reduction that would be a notch on the 'pro side' of doing issuance reduction, though not definitive of whether/when/how it should be done!

[_gabrielShapir0 @lex_node]

@Marczeller @Kleros_io part of the problem is that legal systems are actually very far from 'jurors just vote on an outcome', this is not what anyone should want, even if there is a rational cryptoeconomic aspect to it--they want a *just* result not a popularity contest

[_gabrielShapir0 @lex_node]

if you've been wondering about the "ETH issuance debate" this is a very balanced summary drawn from debates in a chat of ETH warriors

personally, I disagree that 'over-staking' is a real issue per se (the real issue is intermediation) and I'm completely against an issuance change at this time

just watch @fundstrat 's talk from yesterday and his vision of how DATs will leverage staking rewards--we don't want to mess with that

when Ethereum is closer to ossification (including zkEVM etc.) is probably the right time to change issuance

[hanniabu.eth (Ξ, α) @hanni_abu]

The discussion on an Ethereum issuance change is growing, but there's a lot of one-sided takes. I've developed https://t.co/plfpLClnkv to help navigate this discussion, as well as others, in a neutral and balanced way.

There's 3 paths for moving forward:
- change issuance
- don't change issuance
- wait and revisit later

The site maps out arguments for/against an issuance change as well as counterarguments for each to help develop an informed assessment about the tradeoffs of each path.

[_gabrielShapir0 @lex_node]

mood:

[_gabrielShapir0 @lex_node]

@AaronBuchwald @fleetingbits yes, no one is using them unless a boomer who can barely use computers or somehow forced to do so in enterprise context

[Mippo 🟪 @MikeIppolito_]

The answer is staring us in the face: it's tokens.

Now we just need to fix them, which is existential to the survival of this industry.

[Etherealize @Etherealize_io]

Tom Lee: Ethereum DATs can use ~$500 million in annual staking rewards to fund grants for Ethereum ecosystem

“The Ethereum Treasuries — Bitmine and Sharplink among others — now own 7% of the Ethereum supply… Treasury stock is essentially supply permanently taken out from the ecosystem, but we also own the yield. The yield is around 3% so today these public treasuries are generating ~$500 million in rewards, and that is what we can use to fund and grant the crypto ecosystem.”

Lee believes that the Ethereum Foundation narrowing its focus to CROPs (censorship resistance, openness, privacy and security) is the right decision.

“Ethereum is a $240 billion network value entity. It has been operating for 11 years without a single day of downtime. There’s 11,500 nodes in 89 different countries. And there’s 15,000 developers. I think this is too big to be coordinated by a single foundation.”

As Ethereum continues to scale, he believes the ecosystem will move beyond a foundation-centric model and points to private companies like Etherealize, Optimism, Consensys, Enterprise Ethereum Alliance, and Offchain Labs that represent the Ethereum ecosystem and are already doing enterprise engagement.

“This list doesn’t yet reflect the spinoffs coming from the Ethereum Foundation. There’s at least five, and I think Bitmine will play a role in granting and supporting any of those that come out.”

“I think Ethereum is in good hands because the foundation is going to be stronger by staying focused. We have a lot of private sector companies already building products and important L2s on Ethereum. And of course, the treasuries are here to help with funding and granting… If you’re bearish, you are selling at the bottom.”

[MetaLeX @MetaLeX_Labs]

The future of capital markets should not depend on someone named Greg updating a spreadsheet