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🦧 web2 dates web3
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🦧 web2 dates web3

Ape of Omaha
Aug 31, 2022
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🦧 web2 dates web3
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šŸ¤ deals, deals, deals…

 

tbh, web3 cannot become mainstream without web2… in the end, we need more than just the maniacs on the web3 flow

  • one of the many ways this can be resolved is when web3 platforms leverage web2’s long-established infrastructure and sheer size

 

ftx x reddit

  • ftx is a centralized (so it's more like web2.5) crypto exchange that offers many more trading opportunities than most other beginner-facing platforms (i.e. derivatives, leveraged tokens, futures, etc.)

    • recently posted 1,000%+ jump in revenue YoY

  • reddit rolled out this feature called community points a couple years back

    • users on r/cryptocurrency and r/fortnitebr would get community points for active engagement, and these points sit on the ethereal blockchain

  • community points would be visible next to one’s username, but it would also give the user the opportunity to use up the community points to:

    • earn community-specific memberships

    • vote on decisions

    • reward creators on the platform

    • send tips

 

the problem: users will incur gas fees to incur transactions on the ethereum blockchain with these community points

  • so, users would have to pay gas fees (in gwei) with ethereum

  • but not all reddit users are active holders of ethereum, or any cryto wallet for that matter

  • this restricts reddit’s future plans as to expanding the community point feature to other subreddits that are not directly blockchain-based communities

 

enter: ftx

  • ftx will let users convert fiat currency (i.e. usd) to ethereum using ftx pay those gas fees, which would make it easy for any redditor to utilize their community points

  • imo: though not groundbreaking or historical, this would make it much much easier for all reddit users to benefit from blockchain or web3 broadly

    • without having to understand gas fees, ethereum, blockchain, really, anything, users can just rack up community points and gain voting rights, send tips, earn memberships, etc. – owning a piece of their community

 

pretty cool stuff!

šŸ’” something im thinking about

spanking students is about to be revived in a school district in missouri. what in the world…? (click image)

that's all, folks šŸ’

 
as always, i’m no financial advisor! (i’m no substitute for professional financial services)
 

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