The @Filecoin Virtual Machine (#FVM) launched yesterday without a hitch and our team is excited for the future of this technical innovation!
As the economic risk monitoring team for FVM, @theotherAX@MadrigalCianci & CEL have been looking for potential adversarial outcomes
In crypto today, modeling the utility of networksand protocols have specific design elements that make them difficult to predict and understand.
Hence our latest publication: An Agent-Based Model Framework for Utility-Based Cryptoeconomies: published at the 2023 Chainscience Conference.
Here our team proposes a new framework to model cryptoeconomies using Agent-Based Models, and how those models can be used to better design, understand, and forecast outcomes.
Dive in 👉 link.medium.com/XX0qGJ6Q9Bb
#FIP0036 was proposed to tune-up the economic parameters of #Filecoin, to much discussion & debate! Whatever your view, it’s valuable to our governance process! If you’re a $FIL holder or SP, please read @FilFoundation’s blog below & vote here: filpoll.io/poll/16
FF's latest blog post explores everything you need to know about FIP0036, including deliberation, discussion, & next steps. Check it out ➡️ filecoinfoundation.medium.co…
Resilience of decentralized networks are key for their survival. In the #Filecoin network, we have analyzed that the network can overcome many changes or attacks especially if power to the network were to decrease.
In this post, we model how Filecoin is resilient to significant power drops because of the economic mechanisms built into the protocol design.
These mechanisms provide strong economic incentives for new storage providers (SP's) to join and existing SP's to stay in the network after power.
To learn more, check out this post by @blackbandres @MellanTom & our @cryptoeconlab.
link.medium.com/8OMX6Q9yrCb
It has been a pleasure working with @QredoNetwork so far on their new tokenomics framework and we are excited to share more details once the engagement is complete!
Qredo 🤝 @cryptoeconlab
Qredo is thrilled to join forces with CryptoEconLab, the powerhouse in cryptoeconomic services from @protocollabs!
Together, we're taking Qredo Network to new heights with a revolutionary new tokenomics framework, set to launch in the coming weeks🚀📈
Read all about it!👇
qre.do/CryptoEconLab
Please join the panel discussion for FIP-0036 - Sector Duration Multiplier for Longer-Term Sector Commitment. Lots of community comments that we want to discuss w you! Wed Sep 7 at 7am Pacific. Will be recorded too. share.hsforms.com/1OZ0Yu74DT…
The journey of refining tokenomics is a complex one, filled with tradeoffs and uncertainty. We at the @cryptoeconlab were honored to work with @QredoNetwork , a decentralized custody platform to design a set of mechanisms that look to the long-term health of the Qredo Network and aim to align all the participants with network growth.
We worked with Qredo transitioning the project to:
✅ Proof-of-Stake → Federated Proof-of-Stake and eventually Delegated Proof-of-Stake
✅ Enhance the role of $QRDO as Qredo’s utility token
✅ Foster community engagement through open governance
Below is a recap of our engagement and we look forward to continue as economic stewards in this community. medium.com/cryptoeconlab/rev…
🔊🔊CryptoEconDay Austin is ONE DAY AWAY🔊🔊
We are honored to have @protocollabs@juanbenet presenting on the Economics of the Filecoin Economy in relation to the Filecoin Virtual Machine (FVM)!
How the intricacies of the #Filecoin Layer 1 make the #FVM an interesting dynamic in decentralized data storage and how this economy that will support it.
Register here to join us this Tuesday at Filecoin Network Base: lu.ma/cedaustin
CryptoEconDay Austin is made possible thanks to our sponsors at @FilFoundation@multicoin & @LBankLabs !
Thank you everyone for making CryptoEconDay so special last week. We were honored to host over 1K people for our event and happy hour at the @FilFoundation Network Base.
Recordings from our presenters will drop this week.
Attention!!! The FIL-Poll for #FIP0036 closes 09/28/2022 at 10 PM UTC. So far, ~2000 votes have been cast. Vote and have your voice heard! See below for some of the latest poll results and voting insights as of 09/26/2022 9 PM UTC. (1/5)
Need a tool to help model Filecoin’s complex economy?
Here we have open-sourced #Filecoin Mechanical Twin to forecast all the components underlying Filecoin's circulating supply 🧵
Last week, Brett Falk (@Penn) presented his research on "Using on-chain voting for information aggregation" to our team.
In this talk, he examined how effective different voting mechanisms are for tapping into the "wisdom of the crowd" and how resistant they are to adversarial control.
He focused on two on-chain voting mechanisms:
Initiative Voting and Approval Voting
w/ examples from @compoundfinance@Uniswap@LidoFinance@MakerDAO@cosmos@SecretNetwork & more.
piped.video/VpbQ9wwGsJs
It's not that we want #FOMO levels to spike, but the limited-edition swag giveaways at #CryptoEconDay this Tuesday are going to be 🔥. We're talking about Hoodies, Sweat Pants, T-shirts, and more 🤫 . Registration link: cryptoeconday.io/event-sched…
The rewards blockchain miners earn vary with time. Most of their time is spent mining without receiving any rewards, and only occasionally the miner wins a block and earn a reward.
In research completed by our @cryptoeconlab we looked to understand if smoothening the stochastic flow of rewards in mining pools is the ideal case to provide a steady flow of rewards over time.
Smooth block rewards allow miners to choose an optimal mining power growth strategy that will result in a higher reward yield for a given investment. We quantify the economic advantage for a given miner of having smooth rewards, and use this to define a maximum percentage of rewards that a miner should be willing to pay for mining pool services.
LINK: arxiv.org/pdf/2309.02297.pdf
Just announced! Special New #FIP0036 Panel Discussion at CryptoEconDay Singapore, Tues 6pm local SG time:
"Proposing a Cryptoeconomic Change, Getting 551 Comments, and Putting it to Vote"
Registration is free: cryptoeconday.io/event-sched…
Our team recently put together two proposals to help Storage Providers in the @Filecoin economy:
- Source collateral for committing storage deals and capacity
- Understand the growth rate Filecoin’s circulating supply
Introducing Thing 1 & Thing 2
In the @Filecoin economy, FIP Discussion 833 looks to increase the QA multipliers assigned to different types of sectors that can be onboarded onto the Filecoin network.
Our @CryptoEconLab investigated potential adjustments to relative incentives for sector types across a range of multiplier parameterizations. Universal multipliers could affect a number macroeconomic key performance indicators (KPI’s), and reduce the strength of Fil+ multiplier to “abuse” incentives. You can read our overview and for a more detailed analysis.
LINK: medium.com/cryptoeconlab/cry…
September's Virtual Research Seminar brought @maxresnick@specialmech to present on Structural advantages for integrated builders in Ethereum.
Max highlights how bidding behavior should take into account that PBS and OFA are common value auctions, leading to the winner’s curse.
He also shows us the effects of latency in CEX & DEX arbitrage markets.
Is there a path to level the playing field for independent searchers to participate in these auctions? Watch the video to learn more.
piped.video/watch?v=6DLCDv_p…
Starting soon: “Tokenomics with Built-In Insurance” by @0xNlKlTA, Founder/CEO @ @SolaceFi -- “This talk presents a novel mechanism for how protocols can get insurance and capital benefits for their investors/depositors using native tokens.” Livestream: bit.ly/3Wh9sAA
This past August, @safe released their whitepaper on the Safe {Core} Protocol to create an open-sourced framework that advances their transition to smart accounts on the Ethereum Virtual Machine (EVM).
The paper presented a unified standard to catalyze the transition to smart accounts & requested the community for mechanism designs that could enhance the protocol.
Our team of @vik_kalghatgi@misilva73@MadrigalCianci@theotherAX@zixuanzh@emceecoy_ shared insights on mechanism designs that would benefit the community to build their core public good infrastructure in the future.
LINK: medium.com/cryptoeconlab/tok…
1/ In light of recent events within the industry, it’s been a tough time for all of us. However, we’ve been here before and we, at Protocol Labs, remain committed to building the next generation of the internet and driving breakthroughs in computing despite the current climate.
#FIP0036 (see: github.com/filecoin-project/…) has been rejected. The post-processing of the Fil Poll votes is now complete.
Thank you to everyone in the #Filecoin community for engaging on this important topic! ❤️ (We know we posted a lot about it!)
In this new article, we continue our @Filecoin Core Protocol Review with @cryptoeconlab.
In this economic examination, we unpack a key mechanism that ensures error-free & dependable storage on the decentralized data storage network - the Termination Fee:
medium.com/block-science/exp…
Starting soon: “Impact Evaluators Over Ceramic Data” by Joel Thorstensson, Co-Founder @ceramicnetwork- “This talk explores how impact evaluators can be built on top of apps & decentralized data to distribute rewards to participants.” Livestream: bit.ly/3Wh9sAA
Starting soon: “Gas Consumption in the Filecoin Network” by @MadrigalCianci @ Protocol Labs: "A data-driven analysis of gas consumption in the Filecoin network. We propose & discuss several models, their implications, & use cases.” Livestream: bit.ly/3Wh9sAA
Filecoin is an island economy of storage related services and represents communities in Web2, Web3 and beyond. When people propose changes, most vote from their individual perspective. @vik_kalghatgi shows us here how to vote with the long game in mind bit.ly/3XcGGBr
The Filecoin network indexes block reward emissions to the # of actual physical hardware dedicated to the network via its hybrid minting model. The minting model was the intro of a baseline target function which doubles yearly and sets storage capacity targets for the network
#CryptoEconDay was electric! Thanks to all of the speakers and guests who joined us on Wednesday in Denver to learn more about this incredible field.
See you all in Austin for CryptoEconDay on April 25th 2023!
New CryptoEconLab Report Available: #Filecoin Adaptive Block Rewards Will Autonomously Reactivate After Baseline Crossing in Early 2023. link.medium.com/FC6D1OoJvwb
#CryptoEconDay is returning for 2023, in conjunction w/ @protocollabs. These conferences, centered around economic research, present novel ideas to the crypto world. We'll host this year in Denver, Austin, Paris, and Singapore!
For more, go to cryptoeconday.io
Imagine having the ability to store personal and historically relevant data and information forever, governed by a #Web3 community, stored on #Filecoin. bit.ly/3EOLvKe Founder @RadSprint shows us the economic opportunity through his platform bit.ly/3gjts5n
🔊🔊ONE MORE SLEEP until CryptoEconDay Austin 🔊🔊
@mega_fund, Director of Token Engineering at @BinanceLabs, will be presenting on Rehypothecated Cryptoeconomic Security!
Register here to join us this Tuesday at Filecoin Network Base: lu.ma/cedaustin
CryptoEconDay Austin is made possible thanks to our sponsors at @FilFoundation@multicoin & @LBankLabs !
We received many proposals and a Request For Startups (RFS) website was born: rfs.fvm.dev/ Check out the specs for some of our favorite use cases:
Perpetual Storage
Undercollateralized Lending
Programmable Storage Markets
Liquid Staking
DataDAOs
Decentralized Compute
Panelists:
Juan Benet, Founder of Filecoin
ZX Zhang, Lead of CryptoEconLab
Tom Mellan, Lead Researcher at CryptoEconLab
Kaitlin Beegle, Governance TPM, Filecoin Foundation
Moderator: Vik Kalghatgi, Researcher at CryptoEconLab
Want to learn how the @cryptoeconlab has been able to simulate and model out the @Filecoin economy? Our own @blackbandres has summarized how our agentFIL model simulates minting, vesting, burning and locking scenarios to showcase how different actors will respond in this decentralized storage economy.
Read our latest Medium blog to learn more and reach out to us if you believe this product can be valuable for you and your crypto economy
#cryptoeconomics#tokenomics#filecoin#blockchain#crypto#economicsmedium.com/cryptoeconlab/mod…
This Cryptoeconomic Incentive Design for Data Retrieval is a compelling analysis and case study by
@misilva73
from #CryptoEconDay @FILSingapore. piped.video/watch?v=LoFblY3-…
See more talks like this at the next CryptoEconDay in Lisbon Nov 1!
Happy #CryptoEconDay at #ETHDenver everyone! Today @CoorsField we cover:
📈 Quadratic Funding
⛽️ Gas Economics
👨💻 MEV Trends
🛠Economic impacts of #FVM
& more
DM for ticket info.
Can't join us? Check out CED on YouTube Live starting @ 1pm MT👇
piped.video/watch?v=pRb1BSPZ…
This is part of an ongoing series of reports investigating gas and #FVM. In upcoming weeks, we will discuss gas lanes as a potential way of preserving block bandwidth for miners, while at the same time capturing valuable revenue from FVM users #cryptoeconomics#tokenomics
Gas consumption in blockchains fuel on-chain transactions. The strategies used to incentivize users to continue running storage is critical. At #cryptoeconday in Lisbon our own @MadrigalCianci shows us how to simulate gas behavior to better plan ahead bit.ly/3URcpGG
Agenda just dropped for CryptoEconDay Singapore (Sep 27). Register now - As a member of our community, your registration is free! cryptoeconday.io/event-sched…
2022 saw over $3B in hacks making DeFi insurance top of mind. If combine all of the DeFi insurance co's, their combined TVL doesn’t nearly reach these #'s. @SolaceFi Founder @0xNIKITA believes a federated approach can get crypto back in the hands of users bit.ly/3GtvOJl
We’re here in Denver for the start of #BUIDLWeek & #ETHDenver. Looking forward to hosting you all for our CryptoEconDay event on 3/1 at @CoorsField. DM for any questions on the event!
ICYMI, the way #Filecoin cryptographically proves it's storing data is to convert it into a file format w unique addresses using IPFS (InterPlanetary File System) the preferred storage for #Web3, #Blockchain, #NFTs, & #crypto. Learn more from @IEEE here: spectrum.ieee.org/peer-to-pe…
#FVM launch day is here & our team has been working diligently in aligning the economic incentives for long-term success.
Check out how FVM allows anyone to build protocols to improve the @Filecoin network and build valuable services medium.com/tldrfilecoin/file…
Want to learn Mechanism Design for Crypto 101?
This past week we were honored to have Associate Professor Matt Weinberg from @Princeton go into how these structures effect consensus protocols and how #MEV may blow this field up once we get it right piped.video/MnsdoxnIZh0
🔊🔊CryptoEconDay Austin is 5 DAYS AWAY! 🔊🔊
We have Kiran Karra (@blackbandres) presenting on the topic of Agent Based Models!
How they work
What scenarios to use them in
Simulating goal-direct agents in your ecosystem
Register here to join us this Tuesday: lu.ma/cedaustin
Had a lot of fun working with @MadrigalCianci@yahgwai & Abhimanyu Rawat on exploring the extension of EIP 1559 👍👍
Looking forward to catching up with you guys soon 😉
Here we present a mathematical model for block-space demand in the #Filecoin network, investigate the composition of a block as a function of the base fee, and proposed several utility functions representing the interests of different users medium.com/cryptoeconlab/fil…
Check out @sylvanzsr's presentation “Network Analytics Solutions to Improve Network Visibility and Transparency“ from #CryptoEconDay @FILSingapore
piped.video/watch?v=soCNjduv… (@Starboard_V)
See more talks like this at the next CryptoEconDay in Lisbon Nov 1!
In #Filecoin today, no incentive is possible without storage. As time goes on, we need to keep those incentives alive in a utility token model. Jonathan Dotan of EQTY Labs shows us how to build out these via DataDAO bonds through regenerative financing piped.video/watch?v=OyaW95_Z…
551 Github comments later, and with an ongoing vote for FIL stakeholders, this panel discussion seeks to explore the motivation, analysis, governance process, and most salient questions surrounding FIP-0036.