MEV Blocker announced, Astria unveiled and more - The Daily Gwei Refuel #562 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily way refuel I recap the latest news in ethereum ecosystem I'm your host the analysis 6th of April 2023. all right everyone let's get into it so first off apologies for missing yesterday's episode it just didn't have enough time to record it but of course back today with a longer than usual episode and there is a lot to get through so let's actually get right into it so I discussed a couple of days ago about this uh kind of exploit that happened on Mev boost where someone was able to steal about 25 million dollars worth of um of funds from a uh participant in the Mev ecosystem now I also mentioned at the time that there was a fix that was put out by flashbots for the Mev boost relay software well

that fix has gone live I believe and it has led to some unexpected uh consequences here some negative externalities so Buddha here from the beacon chain team said it seems that the recent release of Mev boost is having a negative impact on network performance um uh and then they continue by saying back to building blocks locally uh why did we introduce Mev boost in the first place so the reason why there are missing blocks here is because the fix basically makes it so that solo stakers I believe are at a disadvantage uh because uh I think from my understanding it will take up to three to four seconds for you to know if the block is one that you should be proposing so that uh this exploit can't happen and a consequence of that means that people with lower

powered devices may not be able to do that in time and uh blocks could be missed and that's why you can see here Mariano Conti saying that the effectiveness rating for validators has been going going down a lot are now around 95 and it's actually even lower than that on some of the services here uh and yeah this is the radar.network website where you can see this now this goes back to something that I've been saying for a while about how Mev can be an existential threat for blockchains generally and this is one way that it can kind of play out like this is literally uh Mev leading to network instability now of course this is not the core protocol itself not the core ethereum protocol itself but this is the sidecar software known as Mev boost that people are Outsourcing their block

building 2 that is causing issues on the network now if you were to build blocks locally and if everyone wants to do that locally we wouldn't be seeing this issue so this is a direct consequence of Mev which obviously led to the birth of Mev boost which led to to this and that's why I've been saying for for quite a while now that we need to eliminate Mev as much as possible and we need to enshrine things like Mev boost as part of PBS which is hopefully coming to the network over the next couple of years uh but yeah there's a lot of work to get there and then Buddha also asked you know why did we introduce Mev boost in the first place well we introduced it in the first place uh because Mev it was a way to mitigate these negative externalities that could have eventuated

from the Mev ecosystem and honestly without me V boost I think we would have been much worse off than we are today block building would have centralized even further than it already has uh and it would have been much less Democrat credit than it is today but it's not a perfect solution it is definitely a Band-Aid solution in my mind until we can get something like enshrined uh Mev boost which is known as PBS but that's still a little while away so maybe boost definitely serves a really great purpose at layer one ethereum but also at layer 2 and all the research and development that's gone into mov boost we'll be able to inform that and also inform PBS as well because obviously Mev boost is basically PBS just extra protocol what I mean by that is that it exists outside of the core protocol itself it is a

sidecast software it is not something that exists in protocol which is pit what PBS aims to be so yeah I just wanted to bring that up with you guys there are some other fixes trying to be made in order to alleviate this issue of missed blocks and network degradation here and I'll keep you guys updated on how that progresses all right so uh the kzg ceremony uh as you guys know is still ongoing uh but in not in a public uh contribution phase and a special contribution phase right now well crypto sat here on Twitter said that they have successfully contributed to the kzg ceremony with a file that was signed in space this is pretty cool and this is what I meant uh when I I said a few months ago that people can get very

creative with the entropy that they submit to the kzg ceremony and that's exactly what's happening here with signing a file in space so I just wanted to highlight that just wanted to to bring it up because I thought it was very very cool something that you don't see every day and literally out of this world as cryptosat says uh here all right so rockapool has a big upgrade that actually went through where they uh increased the size of the deposit pool from 5000 to 18 000 eighth in preparation for Atlas now as I said this has already gone through uh and that pool already filled up pretty much instantly I believe most if not all of the re premium has collapsed because of this which is very nice to see but they can be a premium still formed from my understanding if this uh if the pool

remains at cap like it is right now but as far as I can tell the premium has collapsed a lot and uh it's not as punishing and there's not much of a premium left there but I haven't checked on it lately this is from this morning so about uh I don't know eight hours ago now that I that I checked this but great to see this go live as I said this is something that was in that was done in preparation for Atlas which is scheduled to go live uh I believe a week after Shanghai goes live so at the 18th of April um if memory serves me correctly uh but yeah definitely uh very excited to see this and kudos to rockapool for up for getting this through again this change through and also awesome to see it fill up so quickly there is a lot of

demand I believe for rocker pool uh and it's great to see that that demand playing out in real time all right so something that our manifold finances introduced called mevf which is or eth which is their Mev optimized natively multi-chain liquid staking protocol so this is a new liquid staking protocol that's being spun up by manifold Finance which runs the manifold uh Mev boost relayer they've been around for a little while in the ethereum ecosystem and they're saying here at launch uh cream Finance is actually migrating 25 000 eth from the cr82 to Mev eth making me v e the top liquid staking protocol from day one didn't even know cream uh Finance was still around they've been exploited

so many times at this point I just I didn't realize that was still kicking but they are and apparently they have 25 000 e that they can migrate to this service so exactly what what is this you know what is this meve sir as well essentially what Mev if is designed to do it's been designed uh around Mev capture employing novel and unique Mev approaches that aren't possible for other staking platforms this is because manifold operates the full validation stack block Builder secure RPC relay and validators and it's also natively multi-chain as I mentioned and the goal uh I guess is to make it so that you can earn uh the most apy with manifold with Mev eth uh then then you can anywhere else now this goes back to what I've

been saying over the last few months about how we're going to see so many more of these liquid staking um providers spinning up and they're going to be specializing and optimizing in different ways and it's going to lead to a lot of competition within the staking space so very cool to see these from manifold Finance you can check this out I'll link it in the YouTube description below all right so uh speaking of Mev uh cow swap has released a new product called Mev blocker so what is Mev blocker it is a free RPC endpoint that pays users to protect themselves from Mev across a wide variety of use cases in defy nfts and dapps now this has been made in collaboration with a beaver build and the agnostic relay uh and a bunch of other teams have also partnered up with

cow swap here you can see they're all named in the YouTube description uh sorry in the Twitter thread here which will be linked in the YouTube description below but basically the trdr of this is if you change your RPC to this Mev blocker RPC you are better protected against Mev but not only that and I think this is the the key point you are going to be profiting from Mev directly so essentially 90 of the Mev related profits that are captured by by the Mev blocker RPC we'll be going back to users and 10 will go to validators so it's basically changing the incentives here around Mev and giving the profits back to the actual users uh instead of all the profits going to the validators and uh and some going to the the

builders and things like that right so people are going to be able to profit from potentially the uh the Mev extracted from their own uh transactions which is very very cool so just a great product that uh that has been uh deployed out there it is live right now so literally all you have to do is go to MAV blocker.io uh and you can click uh down here add to wallet if you if you're running metamask and it'll automatically add it to your wallet or you can manually add the RPC uh yourself yeah now I wouldn't usually put my weight behind something that was brand new like this so quickly but it's been developed by very reputable teams within the crypto ecosystem Cal swap has been developed by gnosis and nurses is a very reputable team um and all these other teams uh uh

teaming up with them from day one uh lends a lot of confidence to this product itself so definitely go check it out for yourself and add it to your wallet if you if you feel like doing that I think this is very cool and I think this is something that's new and novel that's come to the Mev ecosystem that will change incentives and it's going to be really wild and really interesting to see how that actually plays out in the wider Mev landscape all right so an update from coinbase CR so coinbase's Chief legal officer Paul put at a thread uh talking about coinbase's um legal challenge uh to the sanctions imposed by the US government against tornado cash so this is a 10-part tweet thread which you can read in the YouTube description below but these are basically the main arguments that

they've put forward in uh in basically the legal challenge to those sanctions uh the ofax sanctions that were put on Toyota cache by the US government here so great little update uh just a reminder that the coinbase lawsuit isn't the only one I believe there is uh at least one other that was uh that David Hoffman from bankless is involved in uh that's uh that's also suing ofac over this and there might be one more I can't remember exactly but this is the coinbase lead one which had a bunch of um ethereum community members as participants as well so yeah just in case you forgot about that uh here's an update on it and there's also this up there's also a link here to read more about this so I'll link this in the YouTube description below for you to check out

all right so as of a couple of days ago now a Bedrock uh optimism Bedrock is consensus and feature Frozen so uh oplab says here that we're committed to clocking two weeks of stability on optimism girly before we announce the official date for optimism's mainnet upgrade to bedrock and here's the final L2 contract upgrade which is linked here so uh Bedrock is finally coming it's it's funny like I I remember them saying that Bedrock would be deployed in late 2023 and that didn't happen and then they said it would be deployed in q1 of this year and that unfortunately didn't happen uh but yeah they're very close now so I expect it to be deployed at some point in Q2 of this year so March April or May I guess uh sorry not March April or May Q2 is April May June I got

I think I said a couple days ago I also included March as part of Q2 no match is definitely q1 so April May or June and we're basically at the start of Q2 which means that they got plenty of time but as I said they're going to be doing two weeks of stability on optimism girly and if all that goes well I would expect the main net announcement shortly after that so maybe we get it in in May I I would say may or maybe maybe late April could even be a window here but more likely to be May uh and and Bedrock brings with it a host of upgrades uh you guys will remember I compared it to arbitrim's Nitro release which came out last year uh in terms of impact on the network it's it's it's pretty big so very much looking forward to seeing Bedrock go

live on the optimism Network all right so speaking of arbitrim and all the drama that happened over the last few days they put out a really great update thread today that talks about what they're doing going forward in the wake of the aip1 mess so they started off the thread by saying with the arbor trim down reaching consensus against aip1 it's now time to incorporate Community feedback and move forward with new aips and documentation that addresses key areas of concern and the details are in this thread which I'll link in the YouTube description below but my thoughts on this is that I think it's a really positive step forward so what they've committed to doing now is basically being radically transparent uh which was I guess like the main issue that people had with uh

with with the arbor trim down here and the main issue that I talked about it being a communication issue that's exactly what I meant and that's why I think that they're taking that on board and being radically transparent about this so how are they doing that well there's been three new documents posted there is a transparency report about the foundation's initial setup which covers basically how the foundation was set up you know why why it was done that way way what what tokens were allocated allocated to who everything that happened before the token was generated uh the token went live before the Dow uh was was put live as well then there's going to be AIP 1.1 which is a lockup budget and transparency and AIP 1.2 which is amendments to current founding documents so those are two things that

are going to be voted on I Believe by the community and these will actually these will be real votes guys this won't be the ratification these will be real actual votes by the community that will be binding so uh really great to see that as well now uh there's more details in this Twitter Thread about this and there are links to the aips themselves as well as the transparency report that you can go read for yourself so you can see here uh let me see I've opened up the aips uh there's a tldr for both of them I believe or for ARP 1.1 there's a tldr because it's a bit long and then 1.2 is is quite short and then there's this transparency report which is on the arbitrim foundation website that you can go check out so if you were concerned over this and you are wondering what was

actually going on and you need more transparency into what happened with with the arbitrim foundation and the Dow and all that sort of stuff this transparency report is for you and then you also have these proposals to go through as well so I I'm very very happy that arbitrim did this so quickly I think this is going to um put to rest a lot of the the concerns people had around the arbitrimp dial and we can move forward from here now and and everyone that wanted to be part of the Dow and wanted to be part of the community can move forward and Arbor trim can work towards regaining that trust with users because I totally understand that a certain level of trust has been has been kind of like lost here and broken here but I strongly believe that arbitrim and all Associated parties

such as off-chain labs and the foundation can build back better here and build that trust back up with their community and and with the wider crypto ecosystem so yeah you can go check these out I'll link them in the YouTube description below all right a new project called Austria has kind of come out of stealth or introduced themselves which is a shared sequencer Network so this isn't the first shared sequencer Network that we've seen announced themselves before I believe espresso systems is building one and eigenlayer also wants to build one uh but these are a popular thing to to build right now because as we all know sequences uh on all these layer twos that we're building are centralized and to decentralize them isn't actually a easy task and I covered the espresso

systems document a few weeks ago where it was quite detailed and it goes through all the uh the things that need to be considered when designing a a sequencer Network or a decentralized sequencer Network whether it be shared or otherwise uh so it's great to see more projects jumping into The Fray here so astra's uh so what is a shared sequencer Network basically it is a network that of sequences that is shared amongst different l2s right amongst different networks so it's not just uh bound to One Network so it's not like it's just bound to the arbitrine one network or the optimism Network it can be used or these sequences can be used across multiple networks what is the advantage of that well I think the advantage of that is that it offers out of the box decentralization and security uh and sensitive resistance uh to these

L2 projects and the people running these sequences can stand to make a lot more money a lot more profit from it because they'll be able to share in the fear of a new nmev across multiple networks instead of just one and it's much easier for them to just run one piece of software than trying to juggle multiple pieces of software here so I thought this was just a really cool product that that I came across uh and and they've got a really cool design they're working on here as I said they're not the only ones doing this but this is very much needed and it can apply potentially to any L2 out there right like it can apply to not just only l2s but also so I guess like true l2s but also validium type constructions as well where anything that needs transaction ordering which is

pretty much like every Network right this can apply to uh and and it's really cool to see that these things are already getting uh spun up already uh uh kind of uh uh launching and there's not just one of them there's multiple uh Solutions being worked on because I think these things are going to be uh very big going forward I think they're going to be a main focus going forward and I can't wait to see how each of them play out as I said the top of my head there's Astra there's eigenlayer and then there's espresso systems I believe there's one other that I'm forgetting right now that I'm aware of but I'm sure there's going to be others that that come out as a time goes on here all right so moving on we've got a announcement from the lefire protocol here that they have raised a 17.5

million million dollar series a funding round LED by Queen fund and superscript now disclosure I participated in this round it was done quite a while ago but I guess they've just announced this uh this recently um this series a round TR and there's a bunch of other VCS and funds that invested in them for those of you who don't know what Leaf fight is they are a cross chain a bridge aggregator um they're in their front end interface that you can use is that jumper.exchange it works really well I've used it a bunch of times before and I that and I think that it's a really great product because there's a lot of bridges these days and it's kind of hard to know which ones have the best liquidity which ones are the uh which ones will actually be able to service your request and which

ones can bridge bridge the funds that you want to from from whichever chain to whichever chain whether they be layer twos or otherwise so something like li-fi I think is a very very great uh tool for people to use in order to get the Pres best price and know exactly where they uh can go to with decent liquidity so yeah congrats to li-fi on the 17.5 million dollar race here and happy to be part of the round all right so a couple of updates from Euler Labs uh the team behind Euler Finance so they put an update here about the exploit that happened and what the recovery process was like and how they were able to get the funds back uh which I obviously mentioned a couple of days ago that all the FI almost all the funds were returned and there's also a plan

for Redemption for oil users that has been published on the Forum so you can go check this out and it'll run through exactly how each user of the oiler Finance protocol that lost funds will be able to get their funds back now as far as I know this isn't live just yet I believe it's in testing right now uh but essentially pretty much you know they've designed it in such a way that all users affected will be able to be made as whole as possible so great to see this as I said a couple days ago this is a this is one of the the better stories in in crypto from when it comes to hacks right and I think that Euler Labs has set the bar now in terms of being able to do fund recovery so anyone I guess like who gets hacked in the future

should definitely be keeping oil labs and what they did in mind if they want to be able to somehow get their funds back as well because I believe that getting the funds back even in the most dire situations doesn't have to be difficult because as I've said before there is like whoever does the hack right they have to cover their tracks really really well because you have a lot of really intelligent people who will very quickly be able to find you if they're incentivized to do so and that's what oil Labs did right they put up that massive incentive that I think was a million dollar bug Bounty program or a million dollar Bounty program for someone to or or someone or a group of people to track down who did the exploit now that is as I said a huge incentive

so other teams are going to do that in the future since it seems to have worked so well for oil Labs here uh and I believe that that's going to lead to more fun recovery in the future hopefully there aren't more hacks but I mean we all know they will inevitably be more hacks in the future but I think oil Labs has set the bar here for recovering funds so this a great story as I said you can check out the plan for Redemption if this affects you I'll link it in the YouTube description below all right so Lara Finance has introduced governance V2 which is a fully autonomous on-chain system that allows Lara token holders to directly govern the protocol and treasury so you can check out this blog post and tweet thread for a breakdown of what this is there's also a tldr uh uh uh kind of um

at the top here so the main features are that governance V2 shifts from a representative council model to a fully autonomous on-chain system empowering token holders to directly govern the Lyra dowel token holders can stake their tokens to receive uh STK Lyra tokens granting them proposal and voting rights in the governance process delegation allows token holders to allocate their governance powers to others fostering a more inclusive and efficient decision decision-making environment treasury management and decentralized development will be facilitated by governance V2 enabling any group or individual to propose funding and contribute to the protocol that transition to governance V2 aims to improve dependability security and reliability fostering Innovation and Paving the way for a more secure and dependable system so it is really a full-fledged massive upgrade to

the Lara dial here it's not just a V2 for the sake of being a V2 as I said you can get the full details in the blog post and the Twitter thread but this is kind of funny because I I I did say that I preferred the more representative council model uh like when it comes to Dows a few days ago and I'm going to talk a little bit about this at the end of the of today's episode as well but I don't think that we should give up on uh other models other Dow models I do think that there should be experimentation that happens here with these other models even if like me personally I you know I don't think they're going to be a huge success long term even if I think that it's better to have a representative model I'm happy to be

proven wrong like I'm always happy to be proven wrong about these sorts of things but as I said I think in the long term a lot of these things will just very much look like centralized companies with a well I mean they'll look like centralized companies or public companies that have a board of directors that makes a lot of the decisions but token holders can also have a say in these things and vote on things but in terms of being able to scale this stuff you definitely need like a relatively small group of people that are able to keep track of everything happening and able to keep on top of things as essentially their full-time job because you can't just do casual governance right especially when it comes to financial protocols I and because you can you can kind of like you'll use a real world analogy for this of what

happens with uh with the real world governance systems that we have today and how I would call them casual governance because most people don't actually pay attention to politics and all the issues at hand and really a lot of it's decided by the representatives themselves right and whoever gets in power based on a number of different factors I don't want to go too far down that rabbit hole because it's actually I actually said I want to talk about it at the end but yeah when comparing this sorts of things that's funny because there's so many different ways to do governance and I think that there's going to be a lot of experiments that play out and we're going to recreate a lot of the stuff that didn't work in I guess the non-crypto world when it comes to governance but there are certain things that we can do differently

because there are you know there are things like token holder governance it is global it's not just a nation State kind of thing um and there are different uh things to consider as well like the fact that you don't know who's holding your tokens because it's Anonymous right or pseudonymous and there's all those types of considerations too to uh to consider that but anyway you can check out Lara governance V2 for yourself I'll link this in the YouTube description below all right so a few people that I actually used to work with from our set protocol here have developed something uh uh as part of a hackathon so this was built at uh the ZK hack which was I believe are run by 8th Global recently or or maybe it was run by uh run by scroll recently I'm not sure exactly who it was

run by but it was at a hackathon they built this uh and Brian here put together a thread saying currently those who want to on off-ramp must register for a registrar registrar for a centralized exchange and incur long delays before money reaches your accounts or use centralized Fiat on-ramps which charge High fees uh we uh Alex uh Richard O'Brien and uh Sachin here who as I said I worked with all these people at Set uh previously uh they think there's a better way so they've introduced something called a ZK P2P uh conceived and prototyped at ZK hack it's a P2P Network that can be built on top of any web 2 payment rail without permission from the payment Network itself so here's how it works on-rampers simply make an order stating

how much crypto they wish to have and how much Fiat they're willing to pay off rampers submit an on-chain claim for an order that escrows crypto from the on-ramp bar and then sends venmo a venmo request to the on-ramp bar the on-ramper fulfills the request sending Fiat to the off-ramp bar then the on-ramper takes their venmo email confirmation and generates a ZK proof which is used to unlock the escrowed crypto on chain uh that's that's pretty cool like it's using ztec DK technology with the existing Trad fire system in order to enable this I guess like uh uh trust trust less uh I guess you could say uh Fiat on and off ramp here and as Brian says you know this seems super simple but there are some downsides to the current implementation but they feel

that a lot of them can be addressed in one way or another there's a lack of privacy the current implementation exposes your venmo ID to basically everyone uh payment service exposure vemo could undo a transaction on their Network and have their email server exploited or change their email template design optimizations on-rampers must already have tokens on chain not extensible to other web 2 payments networks clunky ux Etc uh but then they said with problems comes opportunities and we'd love to chat with anyone who's interested in helping build this out and decrease our alliance on increasingly regulated institutions and you can check out check that out here I'll link this in the YouTube description below but this is really really cool as I said this was done in a hackathon so don't expect these problems that Brian outlines to to be fixed uh yet but the

fact of the matter is I we're just reading through these problems I don't think any of these are Show Stoppers I think all of these can be fixed there are some inherent things like obviously the fact that the venmo side or the web 2 side is is still centralized but that's just inherent to to to to to how that works right that's always going to be centralized but the thing is is that it's still a massive improvement over what we have today because it allows for a true peer-to-peer network of on and off ramping which I think that there needs to be more focus on um a lot of these peer-to-peer networks have gotten shut down in the past because they were actually centralized uh networks that that just acted as basically order matching between uh different uh different parties and they

ran a lot of the escrow and stuff themselves so essentially what you could do with an on-chain peer-to-peer market like this is that the escrow would be done by the ZK proof CR and uh and and by doing so it could become a fully on chain peer-to-peer Network without uh with only the centralized part being the the web 2 Trad Fire part so everything else can be the centralized and trustless and hopefully private and that way you can develop a fully peer-to-peer on an off-ramp Network which I think is one of the Holy Grail products right someone can actually figure that out I mean if these guys can figure it out if they can figure out how to build this at scale and and make it private I think private is pretty important here but if they can do that then it can become a

killer product I believe but anyway you can check this out for yourself I'll link it in the YouTuber description below all right so just a nice little heartfelt moment today so uh bass uh the built the base the um the L2 project on ethereum was gifted the base dot eth ens name today by an anonymous uh stranger who shares the vision of decentralization uh and openness within the ethereum ecosystem and here's the email of that Anonymous stranger uh that they sent to Jesse who is the lead at base you can read the email for yourself reading it just really like warms my heart and really resonated with me so I just wanted to give a quick shout out here for you guys to give it a read I'll link it in the YouTube description below but basically the

reason why this stranger gave this to her base for free instead of profiting from this because they could have sold bass.eath for a lot of money uh especially on the secondary Market he had on like open sea or something like that uh they did it because they believe uh in the principles of decentralization and openness and uh they believe that uh bass believes in those values as well so very very cool to see this but yeah you can read the full email I'll link it in the YouTube description below um superfluid has announced super fluid subscriptions and they say yeah we believe everyone should have full control over their payment or their own payment infrastructure that's why our free self-hosted open source toolkit helps web free services accept crypto subscriptions eliminate Merchant fees and mitigate the platforming risk as a fully customizable toolkit super fluid

subscriptions allows you to build crypto native checkouts and effortlessly automate recurring Revenue streamlined web 3 subscription experience any erc20 token within multiple networks and developer friendly so this is obviously something for developers out there to Tinker with but you can see here what this would look like if on um in checkout so when you go to checkout you can usually check out with like Google pay or PayPal well now you can check out with super fluid subscriptions when you subscribe to something uh such as a sub stack uh service for example if sub stack was to integrate this into their service you could pay for your subscriptions uh with super fluid instead of using one of those centralized providers so very very awesome to see this you can go check this out for yourself I'll link it in the YouTube description below

all right finally just wanted to have a bit of a I guess like a few minutes on Dows I do a bit of a discussion about Dows uh when it's been a few minutes on here so this tweet well this meme was put out by the Twitter account regen Spartan not to be confused with d-gen Spartan uh but basically this is a famous meme of a bunch of people on a boat and there's a hole in that boat and one guy is saying guys there's a hole in our boat and then everyone else is giving their own opinion about the hole in the boat some people are saying you know can we please do without this all this negativity guys you know what are you a shipbuilding expert if there's a hole then it's supposed to be there uh technically it's not a hole it's a

special orifice right and this is the kind of stuff that happens in a lot of decisions around governance uh within with in crypto and without outside of crypto everyone has their own opinion on how to do something right everyone has their own opinion on on uh on an issue that arises and even issues as simple as there being a hole in a boat that should be a simple fix right it's like okay there's a hole in the boat that means the boat's gonna sink let's plug the hole before we all secret the boat well well no it doesn't usually work out like that because everyone's got their own opinion right so that's what a lot of these governance decisions that we see inside and outside of crypto and that's how they play out that's why governance is so so hard because you have to import

all these opinions then you have to output something tangible and in order to do that in in crypto is especially hard because it's done in the decentralized fashion but even in a centralized fashion as part of democratic governance it can be very hard to do as well and we've seen in the US right A lot of the time Congress is gridlocked because of this and but and that means that it's very hard for them to legislate on things and it leads to a lot of perverse outcomes and incentives here uh because of that so just I thought this was just the perfect meme to highlight just how hard governance is not just for Dows but also in the real world and how that we have a lot of work to do in order to scale up Dows in order to avoid these pitfalls in order to

avoid what is essentially bike shedding uh yeah right I think that's that's probably the biggest existential risk facing governance systems generally and especially when it comes to chaos but I'll link the name in the YouTube description for you to check out for yourself uh but on that note that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to newsletter join the Disco Channel and I'll catch you all tomorrow thanks everyone