Recently I took a look around the secondary market when it comes to royalties, and it felt pretty interesting. To put it plainly, some project teams want to build a creator economy—only for it, once it goes on-chain, to turn into “selling bread that’s already been sold, while still taking a cut for the original author.” Sounds reasonable, but in practice it’s all friction.

The same goes for the “shared security” logic behind re-staking. It was pretty cool at first, but people turned it into a nested doll game where returns stack on top of returns. When your yield is piled up in so many layers, how reliable is the underlying asset, and honestly, nobody really has full confidence. Anyway, I’m not really willing to bake the bread, sell it to the market, and then bake it again for multiple rounds.

Hopeful as I am, it’s also good to cool off on some things beforehand. I’m going to revoke a few authorizations first, so I don’t end up with my head caught in a nested-doll trap.