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|Legacy
BTCBTC
💲71646.59
+
1.29%
ETHETH
💲2125.47
+
1.99%
SOLSOL
💲88.68
+
2.02%
USDCUSDC
💲0.9998
-
0%
TRUMPTRUMP
💲4.08
+
2.51%
WLDWLD
💲0.3608
+
2.5%

Erik Voorhees
Erik Voorhees|May 22, 2025 17:53
Bitfinex, after it's hack in 2016, and Thorchain, after its Thorfi lending mechanism blew up earlier this year, both pursued a novel path that is only possible in crypto. They issued a token, granted to creditors, which was imbued with a share of future profits. This allowed credits to either instantly get a material portion of their lost funds back, or hold the token for some time and potentially earn *more* than they lost. See below chart of LEO since the hack... 1 debt token has risen by 8x in less than a decade. As an alternative to a normal bankruptcy proceeding, it is far superior. Compare Bitfinex's result to Gox. This method of using a crypto token deserves further study and exploration. Earnest financial innovation, purely market based, among self-interested parties who don't know or trust each other.
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Timeline

Jun 21, 13:20【Launched tokens with a market value of 8 million】
Jun 21, 10:24【Hackenclub encounters BNB and ETH network security vulnerabilities】
Jun 20, 17:45【Wyoming Stable Token Commission lists blockchain candidate companies】
Jun 20, 15:19【Launching tokens and achieving high valuations】
Jun 20, 12:00【BinanceBuild launches new concentration indicators】
Jun 20, 04:39【Combining on chain identity with AI native finance】
Jun 19, 16:03【Deploying over 500 applications on more than 130 chains】
Jun 19, 11:00【Bubble Chart V2 Live Streaming TON】
Jun 19, 10:43【Practical function to view changes in token liquidity】
Jun 18, 20:37【84 Solana is a bonding curve】

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