It has been a while since an update, and it felt a bit overwhelming to try and update on everything that’s been happening. So rather than one “big update” I thought I would break it down into sections and revise it through this week, and also make it more of a discussion.
But first…some “General Thoughts”:
2022 was a very challenging year for digital assets, we were not immune. I think many expected a “bear market” to emerge based on the cyclical nature of the space and macro-events, but few could have foreseen how bad it really could get. From Luna to 3 Arrows Capital to Voyager and Celsius, to the multitude of hacks, and topping it off the fraud/collapse of FTX, it has been a bad year for digital assets (especially CeFi). The growing pains and barriers to adoption are real, and they are significant. This space has truly earned its moniker of “The Wild West”. Bad actors seem to be ubiquitous, and we are just now finally seeing criminal action against a very small number of them.
That being said, I think we saw some positives this year. The Ethereum merge was very successful, and we are now a part of that ecosystem, permanently. Solid DeFi protocols functioned exactly as designed during contagion. The fact that regulation is very likely to occur this year means digital assets are here to stay. Institutions and big brands in Web 3 are to be here to stay. We didn’t “go to zero”, or anywhere near it! I believe there’s a lot to be optimistic for, and that as we prepare for the next cycle we can take the many lessons learned and be well positioned for success.
Happy to expand on any of this/take questions, and here’s what I’ll be detailing out…
1. Token/DAO: ○ Migration ○ Staking ○ Finances ○ Engagement 2. Bamboo Asset Management: ○ Updated strategy ○ App ○ Website ○ VersaPay ○ Team 3. What are we looking for/what do we likely see in 2023? ○ Macro stabilization ○ Regulatory direction ○ Continued maturation of ETH and L2 ○ Expanded Web3 use cases
What other topics would you like discussion on?