AMA#1 - Kain Warwick of Synthetix

Aug 17, 2020

Kain Warwick, the visionary founder of Synthetix, dives into a lively AMA, addressing burning questions from the crypto community. He shares insights on overcoming Ethereum's high gas fees, likening Layer 2 solutions to Brooklyn compared to the main chain's Manhattan. Warwick reflects on the lessons from the rapid rise and fall of the YAM project in DeFi. He also discusses the future of synthetics trading with ETH2 and the challenges of scaling in a volatile market. Expect candid thoughts on governance, community coordination, and the promise of decentralized finance.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

INSIGHT

SUSD Peg Management

Synthetix uses collateralization ratios and increased SUSD supply to manage its peg.
Kain Warwick admits an educational gap exists regarding the benefits of SUSD.

INSIGHT

Stablecoin Comparison

Kain Warwick contrasts permissionless stablecoins like DAI and SUSD with hard-pegged options.
Permissionless stablecoins offer unique properties like easy conversion to synthetic assets.

ADVICE

Lessons from 2017

Kain Warwick's key lesson from 2017 is to focus on building during bear markets.
Bull markets require less effort, mainly "strapping in for the ride."

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Kain Warwick, Founder of the Synthetix Platform, presents himself to the Bankless Nation for a live AMA!

We ask him anything! No question off limits.

This is a BONUS episode. Regular podcast episode (#26) will be released tomorrow.

-----

GO BANKLESS WITH THESE SPONSOR TOOLS:

⚔️ GODS UNCHAINED - TRADING CARD GAME - you own the cards - start a free account, play and trade! 🧙‍♀️ POLYMARKET - BET ON CRYPTO - bet your beliefs! - use it to bet on DeFi outcomes! 🌈 AAVE - LEND & BORROW YOUR CRYPTO W/O A BANK - earn some interest!

💸 AMPLFORTH - MONETARY EXPERIMENT FOR BASE MONEY - learn about this experiment!

-----

We do AMAs every 2nd and 4th Thursday of the month.

Become a Bankless member to get access to the Zoom Webinar and ask questions to future AMA guests like Kain directly!

Here's the video recording.

Kain is the founder of Snythetix, a popular synthetics and derivatives market on Ethereum. The Bankless Nation asks him questions about:

High gas fees
yams lol
Yield farming
Future vision for synthetics
DeF in a Layer 2
Central bank digital currencies
The final boss
Eth2
What he learned from 2017
Bull market price predictions!

And more....

-----

Don't stop at the show!

Subscribe to the Bankless newsletter program http://bankless.substack.com/

Visit the official Bankless website for resources http://banklesshq.com/

Follow Bankless on Twitter https://twitter.com/BanklessHQ

Follow Ryan on Twitter https://twitter.com/ryansadams

Follow David on Twitter https://twitter.com/TrustlessState

Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad

-----

Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.