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evankuo's posts

20 posts found

Re: Foreword to Gauntlet Network's Ampleforth Protocol Behavior & Trading Assessment

  By: evankuo on Aug. 6, 2020, 6:31 p.m.

Excellent. Thanks for sharing. No surprise in the conclusion, as the protocol is incompatible with single variable asset trading strategies.


ARB, as a zero latency trade, with zero theoretical BETA, will always be profitable. I w...

Gauntlet Network's Ampleforth Protocol Trading Assessment

  By: evankuo on Aug. 5, 2020, 7:08 p.m.

This post is ported over from a foreword written by Manny Rincon-Cruz and Evan Kuo in reference to Gauntlet Network's forthcoming report about the Ampleforth network. This foreword and report is also hosted on our website
Link to full report


Ampleforth Rebase & Market Cap Dynamics

  By: evankuo on July 31, 2020, 4:58 p.m.

Note—This is ported over from an old post written before launch. Please note that since this was originally written, the value of rebase_reaction_lag has changed from 30 to 10. Basically any time you see the number 30 replace it with 10, the same ...

Re: Central-Banks—A Bad Influence On Decentralized Finance

  By: evankuo on July 23, 2020, 5:32 p.m.

How does AMPL retain scarcity?

Good question. AMPL scarcity is determined by a set of rules in the protocol that proportionally increases or decreases the supply of tokens in user balances based on volume weighted average price. In this sense...

Early Sketches from the Ampleforth Pitch Deck

  By: evankuo on July 22, 2020, 6:51 p.m.

Just throwing up some old sketches I made for our original Ampleforth pitch deck.

Secretary of Treasury

This is Alexander Hamilton, first secretary of treasury.

Cosmic Power

This was part of a slide talking about how cosmically innovative th...

Re: J.K. Rowling could be Satoshi Nakamoto

  By: evankuo on May 17, 2020, 2:45 a.m.

This is pretty hilarious. Isn't it possible that wizarding monies have some non-monetary use? They are allegedly made of precious metals, but support multiple denominations which is strange. Wonder how they prevent wizards from counterfeiting.

Re: GasEVO: Tradable Forward Contract with GasTokenv2 as its underlying asset

  By: evankuo on April 30, 2020, 1:28 a.m.

At a glance this makes sense to me, thinking about ETH as comparable to a natural commodity money, and imagining the origins of hedging. I'll do a deep dive and come back with more questions, but one out the gate is.

Q: "Can't I just hold dollars...

Re: Is AMPL really immune to runaway inflation / deflation?

  By: evankuo on April 27, 2020, 10:23 p.m.

The key thing to note here, is the problem we're talking about concerns the use of commodity-monies (like gold) as a reserve asset in support of a wider banking system.

Systems like the Gold Standard (or Bretton Woods standard) — are immune to i...

Central-Banks—A Bad Influence On Decentralized Finance

  By: evankuo on April 27, 2020, 8:21 a.m.

Modern money is debt and debt is money—Philip Coggan.

Few would disagree with this claim. Yes, the vast majority of money circulating today—so-called broad money—represents a specific type of credit-debt relationship. 

But the modern econ...

Re: Thoughts on bitcoin price post halving - April 2020

  By: evankuo on April 24, 2020, 6:22 p.m.

Great find Nithin!

My sense on this is two-fold:

  1. Bitcoin is a risk asset that will first and foremost be affected by people who fear losing money.
  2. Bitcoin is easy to disconnect from macro-fundamentals like output and consumption.

Given how...

Re: Defi Needs Better Primitives

  By: evankuo on April 23, 2020, 8:30 p.m.

An oldie but goodie post, ported over from something I originally wrote for the Defiant. I'll note that this drew attention to the problem of liquidity crunches and centralized collateral assets—before the MakerDAO collapse on "black Thursday."


Re: Inelasticity in physical commodities is surfacing as an issue as demand plummets

  By: evankuo on April 23, 2020, 5:19 p.m.

Talking about Keynes and Hayek in relation to oil is a little weird here... Sure, real world events caused the demand of oil to dry up, but that's natural given the lockdown. Would a keynesian argue we need to stimulate demand for oil right now...

Re: Is Bitcoin Trending From a Positive to Normative Economic Thesis?

  By: evankuo on April 22, 2020, 10:55 p.m.

Say I'm a builder. To build something new, I have to have an idea of how things ought to be. Then, to get new users, I need to tell them how this new platform gets us there. I'm totally ok with that!

I actually don't think most people know th...

Re: Inelasticity in physical commodities is surfacing as an issue as demand plummets

  By: evankuo on April 22, 2020, 8:59 p.m.

Something like 35% of corn is used in ethanol. As a result corn is a commodity with an extremely tight link to the fate of oil and the dimishing consumption of gas, but not from a transportation cost of the commodity perspective

Yeah it's a b...

Re: Inelasticity in physical commodities is surfacing as an issue as demand plummets

  By: evankuo on April 22, 2020, 12:31 a.m.

It's crazy to think about how novel the concept of supply contraction (as a direct function of demand) really is.

Folks would certainly be happier right now with oil as an asset, if its supply could decrease without environmental cost. We're fac...