How To Think About Restaking Economics with Tarun Chitra
Welcome to episode 13 of EigenLayer Unlocked, for a very insightful conversation about building the correct mental model for restaking and crypto-economic security. We had the opportunity to sit down with Tarun Chitra from Gauntlet, who brought mental models, analogies, and key information to the table about how restaking mechanisms work, what makes EigenLayer's economics operate, and why incentives play a crucial role in this evolving ecosystem. We kicked things off by exploring the concept of valuing restaked security from one of Tarun's recent blog posts. Tarun explained how the decisions made by node operators—especially around which AVSs they allocate to—can have a ripple effect across the network. It’s not just about individual services; these choices can influence the broader stability of the ecosystem. A key part of our discussion was understanding the risks of cascading attacks. Tarun highlighted how failures in one AVS can impact others, leading to potential systemic issues. To prevent this, it’s essential to design security measures that address both local (individual service) and global (network-wide) risks. We discussed the analogy towards traditional finance, mortgages, and bonds to help conceptualize these concepts. One of the most interesting points was about EigenLayer’s introduction of a new security model featuring "unique stake." This model helps mitigate risks by allowing specific ETH reserves to be slashable only by particular services, providing a layer of isolation and addressing concerns about overlapping slashing risks. We also discussed the power law as it applies to AVSs—some thriving by transitioning from incentive-based models to sustainable revenue streams, while others might not make the cut longer-term. If you’re looking to get a clearer understanding of how restaking economics works, this is the podcast for you. Enjoy. The Rollup 𝗘𝗶𝗴𝗲𝗻𝗟𝗮𝘆𝗲𝗿 𝗨𝗻𝗹𝗼𝗰𝗸𝗲𝗱 𝗶𝘀 𝗽𝗿𝗲𝘀𝗲𝗻𝘁𝗲𝗱 𝗯𝘆 𝗔𝗹𝘁𝗟𝗮𝘆𝗲𝗿 𝗮𝗻𝗱 𝗣𝗼𝗹𝘆𝗺𝗲𝗿 𝗔𝗹𝘁𝗟𝗮𝘆𝗲𝗿 is an open and decentralized protocol that accelerates the launch of native and restaked rollups as well as AVSs. Our flagship product ‘restaked rollups’ has been an industry disruptor, unlocking the true value of rollups with enhanced security, decentralization, fast finality, and interoperability. AltLayer also recently launched the market’s first AVS-as-a-Service platform called “Wizard”- which templatizes AVS tools for convenience, hyper-accelerating their adoption and fast-tracking scalability for Web3. Follow AltLayer's Twitter: https://twitter.com/alt_layer and Join the Discord: https://discord.gg/altlayer 𝗣𝗼𝗹𝘆𝗺𝗲𝗿 is the first real-time interoperability solution that combines message passing and state streaming into an infinitely scalable network layer for the upcoming appchain meta. It can scale alongside L2 block times and leverage the security guarantees of connected rollups while offering re-org protection. Check it out here: https://www.polymerlabs.org/ 00:45 Introduction 01:50 Valuing Crypto Economic Security 11:23 Incentives and Security in AVSs 17:11 LRTs and Risk Management 25:56 Dynamic Risk Allocation in LRTs 30:47 Parallels Between Restaking and Mortagages 35:16 The Future of Credit Markets on Blockchain 38:21 AVS Revenue Models and Market Dynamics 45:26 Collateral Types and Risk Management in Restaking 50:06 EIGEN Token Economics Gauntlet Website: https://www.gauntlet.xyz/ Gauntlet Socials: https://x.com/gauntlet_xyz Tarun Chitra Socials: https://x.com/tarunchitra 𝗪𝗲 𝘁𝗿𝘆 𝗼𝘂𝗿 𝗯𝗲𝘀𝘁 𝘁𝗼 𝗽𝗿𝗼𝗱𝘂𝗰𝗲 𝗵𝗶𝗴𝗵-𝗾𝘂𝗮𝗹𝗶𝘁𝘆, 𝗻𝗼𝗻-𝗯𝗶𝗮𝘀𝗲𝗱, 𝗲𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗰𝗼𝗻𝘁𝗲𝗻𝘁 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗰𝗿𝘆𝗽𝘁𝗼 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺. 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝘂𝘀 𝘄𝗵𝗶𝗹𝗲 𝗹𝗲𝗮𝗿𝗻𝗶𝗻𝗴 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗰𝗼𝗻𝗰𝗲𝗽𝘁𝘀 𝗯𝘆 𝗰𝗹𝗶𝗰𝗸𝗶𝗻𝗴 𝗮𝗻𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗹𝗶𝗻𝗸𝘀 𝗯𝗲𝗹𝗼𝘄 𝗳𝗼𝗿 𝗳𝗿𝗲𝗲 𝗿𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀: Website: https://therollup.co/ Spotify: https://open.spotify.com/show/1P6ZeYd.. Podcast: https://therollup.co/category/podcast Follow us on X: https://www.x.com/therollupco Follow Rob on X: https://www.x.com/robbie_rollup Follow Andy on X: https://www.x.com/ayyyeandy Join our TG group: https://t.me/+8ARkR_YZixE5YjBh The Rollup Disclosures: https://therollup.co/the-rollup-discl . . . 𝗗𝗜𝗦𝗖𝗟𝗔𝗜𝗠𝗘𝗥: 𝘐𝘯𝘷𝘦𝘴𝘵𝘪𝘯𝘨 𝘪𝘯 𝘤𝘳𝘺𝘱𝘵𝘰𝘤𝘶𝘳𝘳𝘦𝘯𝘤𝘺 𝘢𝘯𝘥 𝘋𝘦𝘍𝘪 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮𝘴 𝘤𝘰𝘮𝘦𝘴 𝘸𝘪𝘵𝘩 𝘪𝘯𝘩𝘦𝘳𝘦𝘯𝘵 𝘳𝘪𝘴𝘬𝘴 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘵𝘦𝘤𝘩𝘯𝘪𝘤𝘢𝘭 𝘳𝘪𝘴𝘬, 𝘩𝘶𝘮𝘢𝘯 𝘦𝘳𝘳𝘰𝘳, 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮 𝘧𝘢𝘪𝘭𝘶𝘳𝘦 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦. 𝘈𝘵 𝘤𝘦𝘳𝘵𝘢𝘪𝘯 𝘱𝘰𝘪𝘯𝘵𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩𝘰𝘶𝘵 𝘵𝘩𝘪𝘴 𝘤𝘩𝘢𝘯𝘯𝘦𝘭, 𝘸𝘦 𝘮𝘢𝘺 𝘦𝘢𝘳𝘯 𝘢 𝘤𝘰𝘮𝘮𝘪𝘴𝘴𝘪𝘰𝘯 𝘰𝘳 𝘧𝘦𝘦 𝘢𝘴 𝘢 𝘴𝘱𝘰𝘯𝘴𝘰𝘳𝘴𝘩𝘪𝘱, 𝘪𝘧 𝘵𝘩𝘪𝘴 𝘪𝘴 𝘵𝘩𝘦 𝘤𝘢𝘴𝘦 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘢𝘭𝘸𝘢𝘺𝘴 𝘮𝘢𝘬𝘦 𝘴𝘶𝘳𝘦 𝘪𝘵 𝘪𝘴 𝘤𝘭𝘦𝘢𝘳. 𝘞𝘦 𝘢𝘳𝘦 𝘴𝘵𝘳𝘪𝘤𝘵𝘭𝘺 𝘢𝘯 𝘦𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘱𝘭𝘢𝘵𝘧𝘰𝘳𝘮, 𝘯𝘰𝘵𝘩𝘪𝘯𝘨 𝘸𝘦 𝘰𝘧𝘧𝘦𝘳 𝘪𝘴 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘞𝘦 𝘢𝘳𝘦 𝘯𝘰𝘵 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭𝘴 𝘰𝘳 𝘭𝘪𝘤𝘦𝘯𝘴𝘦𝘥 𝘢𝘥𝘷𝘪𝘴𝘰𝘳𝘴. #EigenLayer #ModularBlockchains #Ethereum #Gauntlet
many such cases ep 14: blocks, boosts, rewards, mini-apps
Jonny and Ted share their reactions and thoughts on the potential impact of Warpcast’s newest features: blocks, boosts, and $5 USDC Warpcast rewards. For the hundredth time, they also explore specific ways in which channel could be a viable pathway to scale the best aspects of Farcaster that they remember from the early days: finding and building authentic community. Last, they visit the potential of mini apps and deep links as a richer UX and dev solution to the limitations of frames. Enjoy! 00:00 Introduction: rebrand and Jonny’s design process 03:30 Blocks: how can this enhance (or hurt) user control over conversations? 10:15: $5 USDC Warpcast Rewards and Boosts: will this actually result in quality content from new users? 20:00: Reply Culture: how can we recreate engagement from early days? 27:00: Channels: how can channels scale the network? 36:00: Channel Ecosystem: what are specific ideas to help improve channel content? 40:00: Mini-apps: could these be the next solution for a richer dev and user experience?
many such cases ep 13: explore, moxie, twitter crossposting, and channels
In this comeback conversation, Ted and Jonny discuss their takes on the new Explore page, the impact of the new Moxie protocol on the Warpcast experience, what it means for the Network School to be built “on Farcaster”, and the stagnant, yet promising nature of channels against the challenge of quality content. 00:00 Introduction and episode overview 01:14 How we’re feeling about the Explore Page and what we want to see next 11:14 Understanding Moxie and its impact on our Warpcast experience 21:20 Why experiments are important to Farcaster 26:50 Twitter celebrities cross-posting: good or bad? 36:23 What it means for the Network School to be built on Farcaster 37:20 Channel check-in (in lieu of a feelings check-in)
Hyperactive Episode 5 - Red with Antimo FM
We walk-and-talk with freelance product designer, Antimo FM. Antimo shares his journey from growing up in Italy with a passion for comic books and illustration, his path to design, crypto, and Farcaster, and how he’s using Hypersub to build community and earn recurring revenue onchain.
Hyperactive Episode 4 - Narisofka's Gang with Sofia Komarenko
We walk-and-talk with artist, illustrator, and designer Sofia Komarenko. Sophia shares her journey from growing up in Siberia and Kaliningrad to becoming a professional artist. She discusses her influences from cartoons and games, her entry into the NFT space, and the challenges of the crypto winter. Sophia highlights the importance of physical representations of digital art and how she’s using Hypersub to earn recurring revenue, and build a community of supporters that help sustain her artistic practice.
Terminally Onchain with YB
We discuss the past, present, and future of YB's work, and how he's using Hypersub to earn recurring revenue onchain with Terminally Onchain.
Context S3: Inside Super Punk World w/ Nina Chanel Abney and Todd Kramer
Blake speaks with the brilliant Nina Chanel Abney, world renowned multidisciplinary artist. Her resume is beyond impressive; her work is in the permanent collections of museums like The MoMa and The Whitney, and she just released her second collaboration with Nike, designing her take on the iconic Jordan 3. Earlier this year, she was the first artist selected for Punk in Residence, an art program by CryptoPunks designed to champion creative experimentation with web 3. She released Super Punk World, her 500 piece NFT collection in May as part of the program. Throughout this episode, you’ll get further context on Nina’s entire body of work, her artistic vision and what she stands for, while Blake and her chat about the WNBA, her Nike collab, art history, how humour translates across mediums and more. The second half of the episode is dedicated to talking about Super Punk World, from its conception to its reception, to what’s next. Accompanying Nina is the innovative gallerist and collector Todd Kramer, who provides illuminating perspectives about the business side of the art industry, what Nina has accomplished in her career thus far and The Gallery of Digital Assets (GODA) which Nina and him co-founded with Pharrell (among others!). The three of them have an inspiring and pertinent discussion that is especially relevant for crypto art and NFT collectors and anyone interested in creativity onchain. Nina’s Twitter: https://x.com/ninachanel Super Punk World: https://hub.cryptopunks.app/gallery/nina Nina’s Nike Collab: https://www.nike.com/ca/launch/t/air-jordan-3-retro-x-nina-chanel-abney-bicoastal-and-malachite Todd’s Twitter: https://x.com/toddkramer1 Blake’s Twitter: https://x.com/blakefinucane Boys Club Newsletter: https://boysclub.beehiiv.com/
Welcome to ETH Daily
Welcome to your daily Ethereum news briefing. Dive into the latest on Ethereum, DAOs, DeFi, Staking, LRTs, and L2 rollups. Subscribe to our newsletter so you never miss a beat: https://ethdaily.io Follow Us X: x.com/ethdaily Lens: hey.xyz/u/ethdaily Farcaster: warpcast.com/ethdaily.eth
The Yon Experience with Yon Frula
We discuss the past, present, and future of Yan's work, and how he's using Hypersub to earn recurring revenue onchain with The Yon Experience.
Believe in Something with Jihad Esmail
We discuss the past, present, and future of Jihad's work, and how he's using Hypersub to earn recurring revenue onchain for Believe in Something.
How Layer3 Is Transforming User Engagement Onchain ft. Brandon Kumar
This episode welcomes Brandon Kumar, Co-founder of Layer3. Throughout our chat, he shares his journey from leaving venture capital to entering crypto, diving into the creator economy, onchain user behavior, and the innovative incentives like XP and Cubes that drive engagement. We also explore Layer 3's distribution network, user growth strategies, and the challenges of data fragmentation in the crypto space. I hope you enjoy our conversation.
many such cases ep 12: building for high-quality content with @dwr
on this episode (recorded “like a year ago”), @dwr joins @ted and @nonlinear to discuss the number one priority for farcaster right now: the challenge in creating a sustainable supply of quality content. we cover user engagement metrics, the current state of channels and what they could become, and how the team is thinking about enabling high-quality content through new features. @dwr also shares some of his insights on the power of text-based content and cultures on social platforms like twitter and what the emergence of AI-generated content may mean for these platforms. 00:39 farcaster’s top priority 01:29 challenges and strategies for building communities 07:30 reducing the barrier to high-quality content 15:20 the dominance of text-based content 18:35 in-group culture, power of memes, and AI-generated content 25:25 the future of channels
Going Viral Onchain
This episode welcomes Cooper Turley, Founder of Coop Records. Cooper is a recurring guest on the pod, though this time, we focus all of our attention on how to go viral onchain. Consider this a round table discussion where him and I share our insights, lessons learned, and debate our perspectives on the current state of the onchain creator economy. I hope you enjoy our conversation.
Alex Masmej Talks $DEGEN: Fueling Drakula's Growth and the Onchain Creator Economy
Join us in this episode as we sit down with Alex Masmej, the brain behind Drakula and a key player in the farcaster ecosystem. From his early days of conceptualizing Showtime as the 'Instagram of NFTs' to pioneering Drakula, Alex's journey is nothing short of remarkable. Drakula, now making waves as the 'TikTok of Web3', has seen an explosive start with over $30M in transactions in just two weeks, introducing a new and engaging way for fans to support video creators. Alex returns to the podcast to share the lessons learned from pivoting Showtime to creating Drakula, highlighting the strategic moves, go-to-market strategy, and the decision to adopt $DEGEN as the native currency of the app. I hope you enjoy our conversation and our genesis episode on Pods!
Onchain record labels with Coop Records
The inaugural episode of the Coop Records Podcast featuring the core team - Cooper, Ramie, Jake and Cece. We cover the origins of Coop Records and everything you need to know about running an onchain record label in 2024.
The Birth of Bonsai: From Meme Coin to Culture Currency
The episode welcomes Carlos Beltran, the creator of MadFi and the Lens-native culture currency, Bonsai. Throughout our discussion, we dive into his journey as a founder, the highs and lows of building MadFi, and how Bonsai is shaping culture and creativity within the Lens ecosystem. Carlos also shares his ambitious vision for Lens to reach a billion users and how Bonsai plays a key role in that growth. Finally, we chat about the importance of grants and the need for founders to rethink social from the ground up. I hope you enjoy our conversation.
Why Web3 is the Perfect Home for Creators
Mint Season 4 episode 15 welcomed Matt Alston and Melissa Zhang, the power duo behind Bonfire: the front page for onchain communities. In this episode, we discuss: 01:27 - Intro 06:37 - How Did You Guys Meet? 09:59 - How Did the idea move from Events to Creators? 18:27 - Are Creators Good Community Builders? 22:25 - Is Web Three the Perfect Medium for Creators? 33:32 - DeFi meets the Creator Economy 38:12 - Governance and the Creators 47:06 - Bonfire 53:36 - Building a Bridge between Web Two and Web Three Audiences 56:30 - Converting viewers into collectors 58:59 - What’s next for Bonfire? 60:10 - Outro I hope you enjoy our conversation.
many such cases 11: feet, frames, long casts, and a surprise guest
on this episode, @ted and @nonlinear.eth are joined by special guest, @v, to kick off a discussion about longer casts and frames — but not until after they cover the recent trend of [redacted] that is both a hysterical and mortifying case study in farcaster virality. after getting the rundown on longer cast intentions and current developer (and consumer) pain points on frames, we focus on exploring the potential for better content creation that enhances the entertainment value and social experience on farcaster. we share the frame experiences we love most as well as offer new ideas for more entertainment-driven, less utility-driven frames. last, we revisit the current zeitgeist on power badges and content discovery through the lens of marketplace dynamics. we could be midcurving it, but it made pretty good sense to us.
many such cases 10: nook shuts down, emerging cozy corners, and a new farcaster fight
In this episode, Ted and Jonny discuss the recent news about Nook shutting down and explore the explore different strategies @dwr recommended for building on (or alongside) farcaster as developers, creators, and potentially independent business owners. Ted and Jonny then cover some of the emerging cozy corners on Farcaster, such as FBI (Farcaster Builders India), First Draft, Tabletop, Lounge, Club Ted, and Higher Run Club. Last, Ted and Jonny wrap it up with a quick discussion about a recent controversy on Farcaster involving the authenticity of certain Instagram-like accounts.
many such cases 9: farcon debrief and farcaster’s real existential risk
We return to Many Such Cases with an inside look at FarCon (00:25), an in-depth discussion on the cast and tweet heard around the world (26:59), and our own POV on Warpcast’s current “existential risk” (57:53). We couldn’t be happier to be back at it again and we hope you can hear the joy and excitement and fulfillment in both our laughter and discussions. Links below: McBain’s post about FarCon: - https://warpcast.com/mcbain/0xc14d17b7 The Cast and Tweet heard around the world: - https://warpcast.com/0xdesigner/0x85ca56da - https://twitter.com/0xDesigner/status/1787182104696271135 Commentary re: First Time User Experience (FTUX): - https://warpcast.com/dwr.eth/0x1ac98056 - https://warpcast.com/smokingfrog.eth/0x51e82513 - https://x.com/papa_raw/status/1789743855622885519
many such cases 8: deploy on degen, farcaster CMO, farcon, and onchain media
welcome to many such cases, episode 8 that should be 9 but ted got nerdswiped by Crypto the Game and vows for it to never happen again. we chat what's special about farcaster, deploy on degen week, frames, degen, real vs fake engagement, hypersub churn, farcaster's existential risk, FarCon, and why we should put media onchain. 0:01:00 Crypto The Game - https://warpcast.com/matthewb/0x0dc0939a 0:10:40 Deploy on Degen - https://warpcast.com/jacek/0xb0f1dd27 - https://warpcast.com/syndicate/0x9a6cef16 - https://syndicate.io/blog/deploy-on-degen 0:16:00 Frames segue 0:19:00 Degen volume, bots, and new notifications 0:23:48 Fabric MRR and churn - https://warpcast.com/nonlinear.eth/0xa75e8192 0:32:33 FC client numbers (re: woj cast) - https://warpcast.com/woj.eth/0x41d3d1d5 - https://warpcast.com/deodad/0x31fcd632 0:36:10 Farcaster’s existential risk by Ben Roy - https://warpcast.com/benroy/0x277e7335 0:44:32 Farcon update - https://warpcast.com/ted/0xd59e2a5d - https://warpcast.com/aneri/0x2e3440e5 - https://warpcast.com/aneri/0x44ab0369 0:51:39 Onchain media / ads (why media onchain)
