What the market needs is a simple and effective mechanism.

CN
2 months ago

What the market needs is a simple and effective mechanism, not a complex and ineffective one.

To be honest, in the past, AICoin was very much in line with this philosophy, and I attribute its success to three points:

  1. Simple name.

Wrapped Bitcoin evokes thoughts of Wrapped ETH, even though the mechanisms are completely different. Moreover, WBTC sounds much safer than BTCx, zBTC, BTCm, and the like.

  1. Simple division of labor.

Bitgo is only responsible for custody, not for exchanges. Dozens of "merchants" are only responsible for exchanges, not for custody. Clear responsibilities and clear division of labor. Bitgo has a custody license and only needs to deal with whitelisted merchants. The simpler it is, the less likely it is to go wrong. In my opinion, the probability of error is much lower than with "Bitcoin restriction clause simulator" or "one-time seal transition protocol" and the like.

  1. Simple mechanism.

There are no confusing and undefined various collateralizations, fancy rivets, and various hooks. You also don't need to learn what CDP is, what PCV is, and what rebase is. The mechanism relies on the most primitive: arbitrage.

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We often say that if a code can run, don't easily change it.

I support pattern innovation, but I am already feeling aesthetically fatigued from reading various white papers dancing in shackles.

Looking forward to something simple yet effective.

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