Fe: next generation smart contract language for Ethereum

1

Gnosis Safe

Very simple explanation: imagine you want to start a software company with 5 people you met on the internet. You each live in 5 different countries. How do you decide who holds the treasury? How do you decide which jurisdiction to register a partnership agreement in? There's a lot of friction there. And a lot of trust involved. Even if one person takes it upon themselves, the other 4 members have to trust the 1 guy in charge of the legal org & bank account won't rug pull on them and run off with the money or spend it needlessly. With a multisig smart contract wallet (https://gnosis-safe.io/), it's frictionless to setup a simple smart contract for holding the treasury and for enacting M-of-N rules on any expenditures from that multisig. This may be a 3 of 5 signature requirement or even a 5 of 5 signature requirement. It's fully programmable. So when starting a Web3 project, it's possible to jump into a partnership with a group and be productive without having to worry as much about establishing trust, navigating five different jurisdictions for employment agreements, or centralizing control in a single person. Solidity is not all that esoteric. It's similar in syntax to JavaScript, but it's statically typed. There are also widely recognized and audited open source code bases to build off of (https://www.openzeppelin.com/contracts). And tons of developer tooling (https://docs.ethers.io/v5/, https://wagmi.sh/), along with countless resources on the web.

#Cryptocurrencies #Cryptocurrency Wallets #Crypto 50 social mentions

2

Uniswap

No, we didn't. There are tens of thousands of developers writing smart contracts. Some of these smart contracts, such as Uniswap (https://uniswap.org/), have traded more than $1.2 trillion in volume. Uniswap works 24/7 with 100% uptime. It's permissionless to create a liquidity pool or to trade on the platform. It's a novel architecture, called an Automated Market Maker, a real innovation in financial markets. Uniswap is fully auditable thanks to everything being on-chain. Source code is open. There's also on-chain lending markets (Aave: https://aave.com/), decentralized stable coins (https://www.liquity.org/), on-chain arbitration (https://kleros.io/), on-chain DAO governance (https://compound.finance/governance), on-chain social media primitives which are extensible (https://www.lens.xyz/), multi-sig on-chain smart contract wallets that custody hundreds of millions to billions in assets (https://gnosis-safe.io/), decentralized strategy games that use on-chain zero knowledge proofs to maintain a fog of war and player secrets while keeping everyone honest while allowing for full hackability (Dark Forest - https://zkga.me/), etc. Can really go on and on, but the industry is not going anywhere.

#Finance #Business & Commerce #Productivity 76 social mentions