More on Technology

CyberPunkMetalHead
3 years ago
I made ChatGPT copy itself.
OpenAI's ChatGPT is an amazing AI-powered chatbot. It can write poetry, stories, and marketing campaigns, and it's also adept at coding. ChatGPT's coding is so amazing that it replicated itself. What happened:
Me: Hi
Hello! Can I help? I'll answer any inquiries you have.
Me: Build a python and flask AI chatbot that responds to user messages on the frontend.
CGPT:
from flask import Flask, request, jsonify
import openai
openai.api_key = "YOUR_API_KEY"
@app.route('/chatbot', methods=['POST'])
def chatbot():
user_message = request.get_json()['message']
response = chatbot_response(user_message)
return jsonify({'response': response})
def chatbot_response(user_message):
response = openai.Completion.create(
engine="text-davinci-002",
prompt=user_message,
max_tokens=1024,
n = 1,
temperature=0.5
)
return response['choices'][0]['text']
if __name__ == '__main__':
app.run()To integrate a chatbot with a frontend, use Flask to serve an HTML page with a form for user messages and the chatbot's answer. AJAX can submit the form to the /chatbot route, and JavaScript can show the chatbot's response.
I imported code snippets at the top of the file.
Let's add a frontend interface, I said.
CGPT:
<!DOCTYPE html>
<html>
<head>
<title>AI Chatbot</title>
</head>
<body>
<h1>AI Chatbot</h1>
<form id="chatbot-form">
<label for="message">Message:</label><br>
<input type="text" id="message" name="message"><br>
<input type="submit" value="Submit">
</form>
<div id="chatbot-response"></div>
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.5.1/jquery.min.js"></script>
<script>
$(document).ready(function() {
$("#chatbot-form").submit(function(e) {
e.preventDefault();
var userMessage = $("#message").val();
$.ajax({
type: "POST",
url: "/chatbot",
data: JSON.stringify({message: userMessage}),
contentType: "application/json; charset=utf-8",
dataType: "json",
success: function(response) {
$("#chatbot-response").text(response.response);
}
});
});
});
</script>
</body>
</html>To serve this HTML page using Flask, build a new route that returns the page as a GET response.
So far, so good.
Looked quite basic so I got chatGPT to add some tailwind to the project.
Me: Tailwind the chatbot.html page, please. Give it a futuristic style with purple and neon
After a few more prompts, Talk GPT aligned the form to the center, changed some colors, and added padding.
CGPT:
<!DOCTYPE html>
<html>
<head>
<title>AI Chatbot</title>
<link href="https://unpkg.com/tailwindcss@^1.0/dist/tailwind.min.css" rel="stylesheet">
</head>
<body class="bg-black flex flex-col justify-center items-center">
<h1 class="sm:text-center text-purple-500">AI Chatbot</h1>
<form id="chatbot-form" class="border-purple-500 bg-purple-800 rounded">
<label for="message">Message:</label><br>
<input type="text" id="message" name="message" class="min-w-30 rounded"><br>
<input type="submit" value="Submit" class="bg-purple-500 border-red-500 transform hover:scale-110 rounded">
</form>
<div class="flex justify-center">
<div id="chatbot-response" class="text-white rounded"></div>
</div>
<script src="https://ajax.googleapis.com/ajax/libs/jquery/3.5.1/jquery.min.js"></script>
<script>
var colors = ['red', 'orange', 'yellow', 'green', 'blue', 'indigo', 'violet'];
var colorIndex = 0;
$(document).ready(function() {
setInterval(function() {
$("#chatbot-form").css('border-color', colors[colorIndex]);
colorIndex = (colorIndex + 1) % colors.length;
}, 1000);
$("#chatbot-form").submit(function(e) {
e.preventDefault();
var userMessage = $("#message").val();
$.ajax({
type: "POST",
url: "/chatbot",
data: JSON.stringify({message: userMessage}),
contentType: "application/json; charset=utf-8",
dataType: "json",
success: function(response) {
$("#chatbot-response").text(response.response);
}
});
});
});
</script>
</body>
</html>Improved:
A few more prompts like “Add more vertical and horizontal padding to the submit button and vertical margin, and vertically align this file's body.”
The result:
Is it effective? Now, I'll chat with ChatGPT's AI Chatbot. I intervened minimally throughout construction. Chat GPT created numerous files, connected and interacted with its own API, and presented the user request response on the front end by itself.
Me to AI Chatbot: Hey, can you give me 6 name suggestions for a black horse?
Me to AI Chatbot: Write a poem in the style of Jim Morrison. Make sure to mention cacti and black holes
ChatGPTs Chatbot:
In the desert night, I am confronted by cacti,
Their arms reaching out, As if to grab me and take me away.
The stars in the sky, Beckon me to come,
To a world of black holes, Where I can be free.
I am in a trance, My body and mind,
In a state of limbo, As I wander the night.
I hear a voice, Calling me to the unknown,
I cannot resist, The lure of the black hole.
The cacti watch, As I take my leave,
To a place of mystery, Where I can find peace.
Of course, the next question I gave it was to build a chatbot!
Me: Build a python and flask AI chatbot that responds to user messages on the frontend.
ChatbotGPTs:
import os from flask
import Flask, request, jsonify
from chatterbot
import ChatBot
from chatterbot.trainers
import ListTrainer
# Create a new chatbot
bot = ChatBot(
"My Bot",
storage_adapter="chatterbot.storage.SQLStorageAdapter",
logic_adapters=[
"chatterbot.logic.BestMatch",
{ "import_path": "chatterbot.logic.BestMatch",
"statement_comparison_function": "chatterbot.comparisons.levenshtein_distance",
"response_selection_method": "chatterbot.response_selection.get_first_response" }
],
database_uri="sqlite:///database.sqlite3" )
# Train the chatbot with a few sample conversations
conversation = [ "Hello", "Hi there!", "How are you doing?", "I'm doing great.", "That is good to hear", "Thank you.", "You're welcome." ]
trainer = ListTrainer(bot) trainer.train(conversation)
# Create a Flask app
app = Flask(__name__)
# Define a route for the default URL
@app.route("/") def index(): return "<h1>Chatbot</h1>"
# Define a route for the /get_response URL
@app.route("/get_response", methods=["POST"])
def get_response():
# Get the user's message
user_message = request.form["user_message"]
# Get the bot's response
bot_response = bot.get_response(user_message)
# Return the bot's response
return str(bot_response)
# Run the Flask
app if __name__ == "__main__": app.run()No matter how many times I tried, the second generation always used chatterbot instead of the ChatGPT API. Even when I told it to use the ChatGPT API, it didn't.
ChatGTP's ability to reproduce or construct other machine learning algorithms is interesting and possibly terrifying. Nothing prevents ChatGPT from replicating itself ad infinitum throughout the Internet other than a lack of desire. This may be the first time a machine repeats itself, so I've preserved the project as a reference. Adding a requirements.txt file and python env for easier deployment is the only change to the code.
I hope you enjoyed this.

Shalitha Suranga
3 years ago
The Top 5 Mathematical Concepts Every Programmer Needs to Know
Using math to write efficient code in any language
Programmers design, build, test, and maintain software. Employ cases and personal preferences determine the programming languages we use throughout development. Mobile app developers use JavaScript or Dart. Some programmers design performance-first software in C/C++.
A generic source code includes language-specific grammar, pre-implemented function calls, mathematical operators, and control statements. Some mathematical principles assist us enhance our programming and problem-solving skills.
We all use basic mathematical concepts like formulas and relational operators (aka comparison operators) in programming in our daily lives. Beyond these mathematical syntaxes, we'll see discrete math topics. This narrative explains key math topics programmers must know. Master these ideas to produce clean and efficient software code.
Expressions in mathematics and built-in mathematical functions
A source code can only contain a mathematical algorithm or prebuilt API functions. We develop source code between these two ends. If you create code to fetch JSON data from a RESTful service, you'll invoke an HTTP client and won't conduct any math. If you write a function to compute the circle's area, you conduct the math there.
When your source code gets more mathematical, you'll need to use mathematical functions. Every programming language has a math module and syntactical operators. Good programmers always consider code readability, so we should learn to write readable mathematical expressions.
Linux utilizes clear math expressions.
Inbuilt max and min functions can minimize verbose if statements.
How can we compute the number of pages needed to display known data? In such instances, the ceil function is often utilized.
import math as m
results = 102
items_per_page = 10
pages = m.ceil(results / items_per_page)
print(pages)Learn to write clear, concise math expressions.
Combinatorics in Algorithm Design
Combinatorics theory counts, selects, and arranges numbers or objects. First, consider these programming-related questions. Four-digit PIN security? what options exist? What if the PIN has a prefix? How to locate all decimal number pairs?
Combinatorics questions. Software engineering jobs often require counting items. Combinatorics counts elements without counting them one by one or through other verbose approaches, therefore it enables us to offer minimum and efficient solutions to real-world situations. Combinatorics helps us make reliable decision tests without missing edge cases. Write a program to see if three inputs form a triangle. This is a question I commonly ask in software engineering interviews.
Graph theory is a subfield of combinatorics. Graph theory is used in computerized road maps and social media apps.
Logarithms and Geometry Understanding
Geometry studies shapes, angles, and sizes. Cartesian geometry involves representing geometric objects in multidimensional planes. Geometry is useful for programming. Cartesian geometry is useful for vector graphics, game development, and low-level computer graphics. We can simply work with 2D and 3D arrays as plane axes.
GetWindowRect is a Windows GUI SDK geometric object.
High-level GUI SDKs and libraries use geometric notions like coordinates, dimensions, and forms, therefore knowing geometry speeds up work with computer graphics APIs.
How does exponentiation's inverse function work? Logarithm is exponentiation's inverse function. Logarithm helps programmers find efficient algorithms and solve calculations. Writing efficient code involves finding algorithms with logarithmic temporal complexity. Programmers prefer binary search (O(log n)) over linear search (O(n)). Git source specifies O(log n):
Logarithms aid with programming math. Metas Watchman uses a logarithmic utility function to find the next power of two.
Employing Mathematical Data Structures
Programmers must know data structures to develop clean, efficient code. Stack, queue, and hashmap are computer science basics. Sets and graphs are discrete arithmetic data structures. Most computer languages include a set structure to hold distinct data entries. In most computer languages, graphs can be represented using neighboring lists or objects.
Using sets as deduped lists is powerful because set implementations allow iterators. Instead of a list (or array), store WebSocket connections in a set.
Most interviewers ask graph theory questions, yet current software engineers don't practice algorithms. Graph theory challenges become obligatory in IT firm interviews.
Recognizing Applications of Recursion
A function in programming isolates input(s) and output(s) (s). Programming functions may have originated from mathematical function theories. Programming and math functions are different but similar. Both function types accept input and return value.
Recursion involves calling the same function inside another function. In its implementation, you'll call the Fibonacci sequence. Recursion solves divide-and-conquer software engineering difficulties and avoids code repetition. I recently built the following recursive Dart code to render a Flutter multi-depth expanding list UI:
Recursion is not the natural linear way to solve problems, hence thinking recursively is difficult. Everything becomes clear when a mathematical function definition includes a base case and recursive call.
Conclusion
Every codebase uses arithmetic operators, relational operators, and expressions. To build mathematical expressions, we typically employ log, ceil, floor, min, max, etc. Combinatorics, geometry, data structures, and recursion help implement algorithms. Unless you operate in a pure mathematical domain, you may not use calculus, limits, and other complex math in daily programming (i.e., a game engine). These principles are fundamental for daily programming activities.
Master the above math fundamentals to build clean, efficient code.

VIP Graphics
3 years ago
Leaked pitch deck for Metas' new influencer-focused live-streaming service
As part of Meta's endeavor to establish an interactive live-streaming platform, the company is testing with influencers.
The NPE (new product experimentation team) has been testing Super since late 2020.
Bloomberg defined Super as a Cameo-inspired FaceTime-like gadget in 2020. The tool has evolved into a Twitch-like live streaming application.
Less than 100 creators have utilized Super: Creators can request access on Meta's website. Super isn't an Instagram, Facebook, or Meta extension.
“It’s a standalone project,” the spokesperson said about Super. “Right now, it’s web only. They have been testing it very quietly for about two years. The end goal [of NPE projects] is ultimately creating the next standalone project that could be part of the Meta family of products.” The spokesperson said the outreach this week was part of a drive to get more creators to test Super.
A 2021 pitch deck from Super reveals the inner workings of Meta.
The deck gathered feedback on possible sponsorship models, with mockups of brand deals & features. Meta reportedly paid creators $200 to $3,000 to test Super for 30 minutes.
Meta's pitch deck for Super live streaming was leaked.
What were the slides in the pitch deck for Metas Super?
Embed not supported: see full deck & article here →
View examples of Meta's pitch deck for Super:
Product Slides, first
The pitch deck begins with Super's mission:
Super is a Facebook-incubated platform which helps content creators connect with their fans digitally, and for super fans to meet and support their favorite creators. In the spirit of Late Night talk shows, we feature creators (“Superstars”), who are guests at a live, hosted conversation moderated by a Host.
This slide (and most of the deck) is text-heavy, with few icons, bullets, and illustrations to break up the content. Super's online app status (which requires no download or installation) might be used as a callout (rather than paragraph-form).
Meta's Super platform focuses on brand sponsorships and native placements, as shown in the slide above.
One of our theses is the idea that creators should benefit monetarily from their Super experiences, and we believe that offering a menu of different monetization strategies will enable the right experience for each creator. Our current focus is exploring sponsorship opportunities for creators, to better understand what types of sponsor placements will facilitate the best experience for all Super customers (viewers, creators, and advertisers).
Colorful mockups help bring Metas vision for Super to life.
2. Slide Features
Super's pitch deck focuses on the platform's features. The deck covers pre-show, pre-roll, and post-event for a Sponsored Experience.
Pre-show: active 30 minutes before the show's start
Pre-roll: Play a 15-minute commercial for the sponsor before the event (auto-plays once)
Meet and Greet: This event can have a branding, such as Meet & Greet presented by [Snickers]
Super Selfies: Makers and followers get a digital souvenir to post on social media.
Post-Event: Possibility to draw viewers' attention to sponsored content/links during the after-show
Almost every screen displays the Sponsor logo, link, and/or branded background. Viewers can watch sponsor video while waiting for the event to start.
Slide 3: Business Model
Meta's presentation for Super is incomplete without numbers. Super's first slide outlines the creator, sponsor, and Super's obligations. Super does not charge creators any fees or commissions on sponsorship earnings.
How to make a great pitch deck
We hope you can use the Super pitch deck to improve your business. Bestpitchdeck.com/super-meta is a bookmarkable link.
You can also use one of our expert-designed templates to generate a pitch deck.
Our team has helped close $100M+ in agreements and funding for premier companies and VC firms. Use our presentation templates, one-pagers, or financial models to launch your pitch.
Every pitch must be audience-specific. Our team has prepared pitch decks for various sectors and fundraising phases.
Pitch Deck Software VIP.graphics produced a popular SaaS & Software Pitch Deck based on decks that closed millions in transactions & investments for orgs of all sizes, from high-growth startups to Fortune 100 enterprises. This easy-to-customize PowerPoint template includes ready-made features and key slides for your software firm.
Accelerator Pitch Deck The Accelerator Pitch Deck template is for early-stage founders seeking funding from pitch contests, accelerators, incubators, angels, or VC companies. Winning a pitch contest or getting into a top accelerator demands a strategic investor pitch.
Pitch Deck Template Series Startup and founder pitch deck template: Workable, smart slides. This pitch deck template is for companies, entrepreneurs, and founders raising seed or Series A finance.
M&A Pitch Deck Perfect Pitch Deck is a template for later-stage enterprises engaging more sophisticated conversations like M&A, late-stage investment (Series C+), or partnerships & funding. Our team prepared this presentation to help creators confidently pitch to investment banks, PE firms, and hedge funds (and vice versa).
Browse our growing variety of industry-specific pitch decks.
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The woman
3 years ago
The best lesson from Sundar Pichai is that success and stress don't mix.
His regular regimen teaches stress management.
In 1995, an Indian graduate visited the US. He obtained a scholarship to Stanford after graduating from IIT with a silver medal. First flight. His ticket cost a year's income. His head was full.
Pichai Sundararajan is his full name. He became Google's CEO and a world leader. Mr. Pichai transformed technology and inspired millions to dream big.
This article reveals his daily schedule.
Mornings
While many of us dread Mondays, Mr. Pichai uses the day to contemplate.
A typical Indian morning. He awakens between 6:30 and 7 a.m. He avoids working out in the mornings.
Mr. Pichai oversees the internet, but he reads a real newspaper every morning.
Pichai mentioned that he usually enjoys a quiet breakfast during which he reads the news to get a good sense of what’s happening in the world. Pichai often has an omelet for breakfast and reads while doing so. The native of Chennai, India, continues to enjoy his daily cup of tea, which he describes as being “very English.”
Pichai starts his day. BuzzFeed's Mat Honan called the CEO Banana Republic dad.
Overthinking in the morning is a bad idea. It's crucial to clear our brains and give ourselves time in the morning before we hit traffic.
Mr. Pichai's morning ritual shows how to stay calm. Wharton Business School found that those who start the day calmly tend to stay that way. It's worth doing regularly.
And he didn't forget his roots.
Afternoons
He has a busy work schedule, as you can imagine. Running one of the world's largest firm takes time, energy, and effort. He prioritizes his work. Monitoring corporate performance and guaranteeing worker efficiency.
Sundar Pichai spends 7-8 hours a day to improve Google. He's noted for changing the company's culture. He wants to boost employee job satisfaction and performance.
His work won him recognition within the company.
Pichai received a 96% approval rating from Glassdoor users in 2017.
Mr. Pichai stresses work satisfaction. Each day is a new canvas for him to find ways to enrich people's job and personal lives.
His work offers countless lessons. According to several profiles and press sources, the Google CEO is a savvy negotiator. Mr. Pichai's success came from his strong personality, work ethic, discipline, simplicity, and hard labor.
Evenings
His evenings are spent with family after a busy day. Sundar Pichai's professional and personal lives are balanced. Sundar Pichai is a night owl who re-energizes about 9 p.m.
However, he claims to be most productive after 10 p.m., and he thinks doing a lot of work at that time is really useful. But he ensures he sleeps for around 7–8 hours every day. He enjoys long walks with his dog and enjoys watching NSDR on YouTube. It helps him in relaxing and sleep better.
His regular routine teaches us what? Work wisely, not hard, discipline, vision, etc. His stress management is key. Leading one of the world's largest firm with 85,000 employees is scary.
The pressure to achieve may ruin a day. Overworked employees are more likely to make mistakes or be angry with coworkers, according to the Family Work Institute. They can't handle daily problems, making the house more stressful than the office.
Walking your dog, having fun with friends, and having hobbies are as vital as your office.

Alex Mathers
3 years ago
12 habits of the zenith individuals I know
Calmness is a vital life skill.
It aids communication. It boosts creativity and performance.
I've studied calm people's habits for years. Commonalities:
Have mastered the art of self-humor.
Protectors take their job seriously, draining the room's energy.
They are fixated on positive pursuits like making cool things, building a strong physique, and having fun with others rather than on depressing influences like the news and gossip.
Every day, spend at least 20 minutes moving, whether it's walking, yoga, or lifting weights.
Discover ways to take pleasure in life's challenges.
Since perspective is malleable, they change their view.
Set your own needs first.
Stressed people neglect themselves and wonder why they struggle.
Prioritize self-care.
Don't ruin your life to please others.
Make something.
Calm people create more than react.
They love creating beautiful things—paintings, children, relationships, and projects.
Don’t hold their breath.
If you're stressed or angry, you may be surprised how much time you spend holding your breath and tightening your belly.
Release, breathe, and relax to find calm.
Stopped rushing.
Rushing is disadvantageous.
Calm people handle life better.
Are aware of their own dietary requirements.
They avoid junk food and eat foods that keep them healthy, happy, and calm.
Don’t take anything personally.
Stressed people control everything.
Self-conscious.
Calm people put others and their work first.
Keep their surroundings neat.
Maintaining an uplifting and clutter-free environment daily calms the mind.
Minimise negative people.
Calm people are ruthless with their boundaries and avoid negative and drama-prone people.

Jeff Scallop
3 years ago
The Age of Decentralized Capitalism and DeFi
DeCap is DeFi's killer app.
“Software is eating the world.” Marc Andreesen, venture capitalist
DeFi. Imagine a blockchain-based alternative financial system that offers the same products and services as traditional finance, but with more variety, faster, more secure, lower cost, and simpler access.
Decentralised finance (DeFi) is a marketplace without gatekeepers or central authority managing the flow of money, where customers engage directly with smart contracts running on a blockchain.
DeFi grew exponentially in 2020/21, with Total Value Locked (an inadequate estimate for market size) topping at $100 billion. After that, it crashed.
The accumulation of funds by individuals with high discretionary income during the epidemic, the novelty of crypto trading, and the high yields given (5% APY for stablecoins on established platforms to 100%+ for risky assets) are among the primary elements explaining this exponential increase.
No longer your older brothers DeFi
Since transactions are anonymous, borrowers had to overcollateralize DeFi 1.0. To borrow $100 in stablecoins, you must deposit $150 in ETH. DeFi 1.0's business strategy raises two problems.
Why does DeFi offer interest rates that are higher than those of the conventional financial system?;
Why would somebody put down more cash than they intended to borrow?
Maxed out on their own resources, investors took loans to acquire more crypto; the demand for those loans raised DeFi yields, which kept crypto prices increasing; as crypto prices rose, investors made a return on their positions, allowing them to deposit more money and borrow more crypto.
This is a bull market game. DeFi 1.0's overcollateralization speculation is dead. Cryptocrash sank it.
The “speculation by overcollateralisation” world of DeFi 1.0 is dead
At a JP Morgan digital assets conference, institutional investors were more interested in DeFi than crypto or fintech. To me, that shows DeFi 2.0's institutional future.
DeFi 2.0 protocols must handle KYC/AML, tax compliance, market abuse, and cybersecurity problems to be institutional-ready.
Stablecoins gaining market share under benign regulation and more CBDCs coming online in the next couple of years could help DeFi 2.0 separate from crypto volatility.
DeFi 2.0 will have a better footing to finally decouple from crypto volatility
Then we can transition from speculation through overcollateralization to DeFi's genuine comparative advantages: cheaper transaction costs, near-instant settlement, more efficient price discovery, faster time-to-market for financial innovation, and a superior audit trail.
Akin to Amazon for financial goods
Amazon decimated brick-and-mortar shops by offering millions of things online, warehouses by keeping just-in-time inventory, and back-offices by automating invoicing and payments. Software devoured retail. DeFi will eat banking with software.
DeFi is the Amazon for financial items that will replace fintech. Even the most advanced internet brokers offer only 100 currency pairings and limited bonds, equities, and ETFs.
Old banks settlement systems and inefficient, hard-to-upgrade outdated software harm them. For advanced gamers, it's like driving an F1 vehicle on dirt.
It is like driving a F1 car on a dirt road, for the most sophisticated players
Central bankers throughout the world know how expensive and difficult it is to handle cross-border payments using the US dollar as the reserve currency, which is vulnerable to the economic cycle and geopolitical tensions.
Decentralization is the only method to deliver 24h global financial markets. DeFi 2.0 lets you buy and sell startup shares like Google or Tesla. VC funds will trade like mutual funds. Or create a bundle coverage for your car, house, and NFTs. Defi 2.0 consumes banking and creates Global Wall Street.
Defi 2.0 is how software eats banking and delivers the global Wall Street
Decentralized Capitalism is Emerging
90% of markets are digital. 10% is hardest to digitalize. That's money creation, ID, and asset tokenization.
90% of financial markets are already digital. The only problem is that the 10% left is the hardest to digitalize
Debt helped Athens construct a powerful navy that secured trade routes. Bonds financed the Renaissance's wars and supply chains. Equity fueled industrial growth. FX drove globalization's payments system. DeFi's plans:
If the 20th century was a conflict between governments and markets over economic drivers, the 21st century will be between centralized and decentralized corporate structures.
Offices vs. telecommuting. China vs. onshoring/friendshoring. Oil & gas vs. diverse energy matrix. National vs. multilateral policymaking. DAOs vs. corporations Fiat vs. crypto. TradFi vs.
An age where the network effects of the sharing economy will overtake the gains of scale of the monopolistic competition economy
This is the dawn of Decentralized Capitalism (or DeCap), an age where the network effects of the sharing economy will reach a tipping point and surpass the scale gains of the monopolistic competition economy, further eliminating inefficiencies and creating a more robust economy through better data and automation. DeFi 2.0 enables this.
DeFi needs to pay the piper now.
DeCap won't be Web3.0's Shangri-La, though. That's too much for an ailing Atlas. When push comes to shove, DeFi folks want to survive and fight another day for the revolution. If feasible, make a tidy profit.
Decentralization wasn't meant to circumvent regulation. It circumvents censorship. On-ramp, off-ramp measures (control DeFi's entry and exit points, not what happens in between) sound like a good compromise for DeFi 2.0.
The sooner authorities realize that DeFi regulation is made ex-ante by writing code and constructing smart contracts with rules, the faster DeFi 2.0 will become the more efficient and safe financial marketplace.
More crucially, we must boost system liquidity. DeFi's financial stability risks are downplayed. DeFi must improve its liquidity management if it's to become mainstream, just as banks rely on capital constraints.
This reveals the complex and, frankly, inadequate governance arrangements for DeFi protocols. They redistribute control from tokenholders to developers, which is bad governance regardless of the economic model.
But crypto can only ride the existing banking system for so long before forming its own economy. DeFi will upgrade web2.0's financial rails till then.
