From Intent-Based Architecture to Burning Man

Introduction

In this upcoming blog post, I’m embarking on a journey through diverse topics that have captured our attention recently. From the intricate world of Intent-Based Architecture (IbA) and its practical application in decentralized exchanges to the geopolitical significance of BRICS nations, I'll delve into the realms of technology and global finance. Along the way, I'll explore the fascinating concept of "ego depletion" and its profound implications on our everyday decision-making. And finally, I'll take a moment to reflect on the iconic Burning Man Festival and its current state, considering recent natural challenges and personal aspirations.

What I read today:

Notes: Understanding Intent-based Architecture (IbA):

• IbA is a system formed around intents, which are declarative constraints that delegate transaction routes to third parties while maintaining self-custody of funds.

Examples of IbA Use Cases:

• Limit orders: Placing a limit order to signal your intent to spend a specific amount for a specific asset.

• Aggregators: Platforms that source the most optimal transaction path across decentralized exchanges (DEXs).

• Other examples like CowSwap-style auctions, gas sponsorship, delegation, and transaction batching.

Advantages of IbA:

• MEV Protection: IbA takes intents off-chain, protecting transactions from on-chain Miner Extractable Value (MEV).

• No Slippage: Users receive their desired amount without slippage, as trades are matched with counterparties.

• Gas Savings: Intents are not executed until counterparties are matched, reducing gas costs from failed transactions.

SYMMIO Project:

• SYMMIO is a project utilizing IbA, offering perpetual exchange infrastructure with automated Markets for Quotes (aMFQ).

• Intents are matched with counterparties, and neutral parties (watchdogs) ensure fair play and solvency.

• Frontends like Based Markets, Alpha, and Cloverfield utilize SYMMIO's infrastructure.

Based Markets:

• Based Markets is an intent-driven perpetual decentralized exchange (DEX) that utilizes SYMMIO's intent infrastructure.

• It has unique features, such as no LPs, no order books, and no trading based on oracle prices.

• Tokenomics include a total supply of 1,000,000 $BASED and a fair launch with no team, private, or VC allocations.

• A trade-to-earn model rewards stakers with platform profits and platform fees.

Investment Thesis for Based Markets:

• Bullish on intents and perp trading.

• Potential to compete with other Layer 2 solutions.

• Bullish on the perp DEX narrative and expects it to gain market share.

• Based Markets is currently a micro-cap token with asymmetric upside.

• The team's transparency and partnerships reduce the risk of a rug pull.

• Potential for a moonshot opportunity but recommended not to over-allocate.

What I saw today:

My notes:

Overview of BRICS Alliance

• The BRICS alliance consists of Brazil, Russia, India, China, and South Africa.

• It was initially seen as a challenge to the dominance of the US dollar.

• Wall Street's sentiment towards BRICS evolved over the years, from optimism to skepticism.

Significance of BRICS

• BRICS emerged in 2009 after the 2008 financial crisis, aiming to challenge the US-led global order.

• They established the BRICS Contingent Reserve Arrangement (CRA) and Development Bank to provide an alternative source of funding for infrastructure development.

• These institutions challenge the influence of US-affiliated organizations like the IMF and World Bank.

BRICS and Commodities

• BRICS countries are major producers of commodities like oil and agriculture.

• Geopolitical issues within BRICS could arise from Saudi Arabia's Petrodollar shift and Iran's involvement in terrorism.

• India's hesitation to align on issues like a new currency is a consideration.

Monopolies on Commodities

• BRICS countries could potentially establish monopolies on valuable commodities.

• Investors may see profit opportunities due to natural resources and lower labor costs in BRICS countries.

• The adoption of BRICS currencies by countries producing their commodities could impact the US dollar.

Common Currency and Cryptocurrency

• The idea of a common currency among BRICS nations is discussed, with Bitcoin as a potential candidate.

• Challenges exist due to disagreements and geopolitical tensions.

• BRICS countries are exploring the adoption of cryptocurrencies, with Russia and Iran leading the way.

• Central banks worldwide may hold up to 2% of their balance sheets in crypto starting in 2025, potentially advancing Bitcoin's role as a global reserve currency.

Conclusion

• The rise of BRICS as a global force is influenced by commodity price fluctuations and geopolitical dynamics.

• Monitor BRICS developments, especially in the context of cryptocurrencies, as they could have far-reaching implications for the global financial landscape.

What I listened to today:

What I liked today:

What I learned today:

"Ego depletion" refers to the psychological theory that an individual's self-control and willpower have limited resources and can become depleted throughout the day. This means that after exercising self-control in one task or situation, the ability to self-regulate in subsequent tasks or decisions may diminish. This concept has important implications for understanding human behaviour and can be helpful in explaining phenomena such as impulse control, decision-making and long-term success. It has been investigated in numerous studies and influences the fields of psychology, economics and behavioural sciences.

Random Thoughts:

When I think about what I would like to experience in my life, I would put a visit to the burning man festival among many other things on my bucket list. I had to think about it because I saw the terrible pictures of the floods on the festival grounds, and I am shocked about the conditions there... I hope that the people there are well under the circumstances and that they can be helped quickly. At the same time I ask myself whether and if so, under which circumstances I could still imagine visiting there myself.

That’s it for today! ☺️