Satoshi Mamoto’s Notes: Binance Key Clients and Institutional Clients Survey Report

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Binance Key Clients and Institutional Clients Survey Report

• This is the Institutional Market Insights Report (Second Edition) published by Binance Research Institute. The name may be vague, but you can understand that this is Binance’s market research and communication with customers, exploring institutions and large companies in the cryptocurrency industry. The latest insights from VIP customers. The report is quite detailed, and the questions of the questionnaire are also sent out. Some specific views and summaries are as follows:

• In the second survey, Binance Research analyzed the types and views of the most important VIP and institutional clients who have been using the services offered in the Binance ecosystem.

• More than a quarter of the respondents from Binance’s institutional and major customers have more than 7 years of traditional financial experience, and the vast majority of respondents have worked in the cryptocurrency field for 1 to 3 years.

• 54% of respondents keep their crypto portfolio between 1-10 coins.

• USDTether (USDT) remains the most widely used stablecoin (40%), despite its ongoing legal issues being considered one of the industry’s most significant risks, due to factors such as higher liquidity and market cap than its peers .

• Regulations remain one of the key areas of concern, both as a risk to the future of the industry and as a potential growth driver. Meanwhile, participants see product-side complexity as a positive, as ETFs, derivatives, and brokerage services are cited as potentially the biggest growth drivers for the crypto asset industry.

• Finally, institutional and VIP clients believe Bitcoin will maintain considerable market dominance (69%) until the end of 2019, echoing their concerns about the altcoin market.

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Instagram vs Pornstar, a battle over the centralized web

Instagram's removal of a large number of porn stars' accounts has sparked widespread debate. The main reason is that many people feel that Instagram has different standards for them than celebrities.

The main problem is that many of these accounts posted normal life photos or interactive posts with fans, and their posts and accounts were deleted, while many celebrities who posted more explicit photos were fine.

"The people who invest in us don't understand that our income will be affected, or they don't care. They don't think we should be in this job, or exist in the world," said one actress.

The technological revolution has opened up new channels and allowed many porn stars and sex workers to operate independently using the web, subscription services and self-media, many of whom use Instagram to present themselves and promote their personal brands.

Adult stars and sex workers aren't the only ones affected. Writer, poet and artist Rachel Rabbit White has been removed for sharing photos of her exhibition titled "Gay Sex Work" at New York's Leslie-Lohman Museum The Revolutionary Art of .

Who gets to decide what we see under a porn ban?

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The Next Decade of MakerDao: A Conversation with Rune Christensen

Here’s an interview with MakerDAO founder Rune Christensen by Jason Choi of Spartan Capital. The content of this interview is still focused on multi-asset mortgages that have attracted more attention recently. The following is an abbreviated version of the interview:
Why are Multi-Asset Collateralized Tokens important to Maker?

Only by allowing collateral types beyond Ethereum (and possibly cryptocurrencies) will we have the potential to create stablecoins that can scale to serve the entire global economy.
Are you still considering taking assets from the traditional financial world as collateral?

We certainly have to move beyond the rather niche crypto assets, which doesn't necessarily mean you need to immediately start interacting directly with concepts in the "real world", such as securities, commodities, tokenized businesses, or real estate. More importantly, we need to make sure that Maker actually handles the risk.
Will it harm decentralization?

The key is to spread risk. You could even say "centralized decentralization".
When can you see traditional assets as collateral?

We will start voting on assets, but it is very important to develop slowly. For now, we can rely on ETH as the core driver of stability and fundamental value. We are not rushing to use a lot of real assets today, take our time.
What do you think of KAVA and cross-chain?

Very interesting new avenues for staking. But I don't think it matters that much because I think ETH is king when it comes to reliable decentralized collateral. In terms of importance, the only thing that can come close to Ethereum is Bitcoin, but the gap is still very large.
The advantage of DeFi over established players is that DeFi is a neutral and fair playing field.

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A Primer on Token Economics and Incentive Mechanism Design

This is a very detailed article on token economics written by Richard Li, COO of Certus One, a well-known foreign node service provider. It explores various economic mechanism designs that are currently being tested and implemented. The article provides information from other fields In fact, it could be regarded as an introductory book to token economics.

He mainly pointed out that previous academic research on traditional economic topics (such as valuation, stocks, leverage, and pricing theory) is insufficient when applied to the new token economic system. Traditional economic theory cannot explain the full value created by the Web3 ecosystem.
Four generations of token economics:

First Generation: A simple, straightforward supply curve driven by speculation and volume. Protocols of this type include Bitcoin, Litecoin, Dogecoin, and a few others that use a Proof-of-Work (PoW) consensus mechanism.

Second generation: The second generation framework introduces new mechanisms that try to create more stickiness (less churn) and more stakeholder interaction. Representatives include ETH2.0, EOS (DPoS), DCR, etc. Protocols of this generation typically utilize only one or two levers to influence token economics, most commonly governance and changing block rewards.

Third Generation: The token economic model of the first generation utilizes two or more properties (Liquidity Pool, Vault, Burn, etc.). Ethereum can also be considered the third generation, and Ethereum will have more of these explorations in the future. ,

Fourth generation: The fourth generation mechanism not only represents the expansion and optimization of the third generation mechanism, but also represents a bridge for traditional equity and assets to enter the ecosystem (rather than security tokens).

• Economic mechanism design includes:

• Time Scale

• Inflation vs Deflation vs Fixed Supply

• money flow

• Perks and Rewards Pool

• Token burn and decay mechanism

• Interoperability (cross-chain)

• governance

• governance

The original text explains the principles and examples of these designs. It is worth reading for those who are interested in token economics design.

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When choosing the correct block size for Bitcoin

The Bitcoin community has been debating the correct size of a block for almost its entire existence. Two years ago, these debates led to a split between Bitcoin Cash opting for larger blocks and Bitcoin Core opting to stick with 1MB blocks. However, although many members of both communities seem to have many misconceptions about choosing an appropriate block size.

Let’s review the most common misconceptions about Bitcoin’s block size.
Blocks are never full. No, a predictable size limit is required to maintain the integrity of the network.

Larger blocks can greatly increase long-term overhead. While some might argue that increasing the block size "centralizes" Bitcoin because it increases network overhead, in reality, block size is a rather incomplete metric in terms of economic overhead.

Wallets should be smarter so as not to create a bad user experience. While it is true that wallets should avoid bad UX, Bitcoin still lacks its core means of evaluating whether a transaction will be included properly or not in the next block.

The pool should produce blocks of X megabytes. (Replace X with 8, or 32 or 128 with your affiliation). As of September 2019, the 90-day moving average of Bitcoin blocks has not exceeded 400KB since August 2017, and the average block size has hovered around 200KB during this two-year period.