Purposes of money?
- Unit of Account: way to compare value of various goods and services
- Medium of Exchange: Allows for non-barter transactions.
- Store of Value: Allows value to be retained – even if partially – rather than complete decay (e.g. storing food).
- Transfer of Value: Ease of transfer of value
First Western Union money transfer and fee?
1871 and 3% fee
How much of global reported crypto trading volume is fake?
Over 90%
Percent of the value of U.S. currency in $100 bills?
79%. Large denomination bills are method of choice for criminal activity.
What is Aave’s new credit delegation product idea?
Users can allocate collateral to potential borrowers who can use it to borrow a desired asset. There will have to be trust between the two parties, most likely an off-chain relationship.
On Synthetix, what is the required collateralization ratio to mint synths and participate in staking rewards?
800%
How does Synthetix track the prices of different assets with synths?
The price feeds come from the Chainlink’s decentralized oracles.
Which digital assets are securities and which are not, according to Howey Test?
Under Howey, SEC looks at: manner of sale, promotional material, utility vs. speculation.
Not a security: BTC and Ethereum, bc no expectation of dividend or profit aside from price going up, no promoter.
Security: The DAO, bc investor deposits ETH into contract in return for the token, token holders vote on investments, and there is a clear expectation of making profits from the investments.
