Original link: https://pinfive.today/@skyue/81/

2022.08.02 (issue 81)

Arthur Hayes blog post: The Three Arrows Capital I Know

Source: mp.weixin.qq.com

Analysis of the bankruptcy of Three Arrows Capital in the currency circle. The article is long and professional, but I didn’t fully understand it. A few points:

1. Centralized institutions carry a large amount of funds from retail investors into the currency circle, ignoring risk management for profit

2. DeFi-type lending protocols do not have this problem, because they are strictly executed according to the preset protocol (computer code). The agreement does not specify, I guess for example: there must be collateral, forced liquidation when the value of the collateral is insufficient, etc. The collateral value is measurable and may have to be the base currency. ——From this point of view, decentralization brings about the stable execution of the mechanism and avoids the subjective judgment of people.

3. There is a sentence in the text that is particularly worth discussing: The model of algorithmic stablecoins is indeed relatively Ponzi, but UST is still implemented according to the design model. Although UST inevitably collapses in the end, this is also a potential possibility that we foresee, not UST’s fault.

Detailed explanation of the principle of today’s headline recommendation algorithm

Source: 36kr.com

It’s already 4 years old, and I’m only reading it now.

The information density is relatively large, which is very helpful for quickly understanding the framework of the recommender system.

Vanishing Growth and the Hard-to-Find Second Curve—China and the U.S. Internet at a Historical Turning Point

Source: mp.weixin.qq.com

In addition to new energy can see growth, which other industries?

Traffic “stolen” by Xiaohongshu – Pinwan

Source: www.pingwest.com

“KOLs are nomads in the new era. They live by traffic. Where there is fertile soil for traffic, and where there is the possibility of commercial realization, they will migrate.”

Analysis of the design of global currency symbols! 20 currencies take you to interpret the unknown design science behind the currency symbols

Source: mp.weixin.qq.com

interesting

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