Whitepaper Reading Session 30 SG: @aboutcircles In today’s crypto world, Bitcoin + stablecoins dominate. But this creates new issues at scale: • Scarcity → extreme concentration of ownership • Central issuance → mass adoption but less decentralization Circles 2.0 offers a counterpoint: • Everyone has a natural right to receive/issue tokens. • 7% “tax” (demurrage) ensures that money is not hoarded. • Social relationships anchor Sybil resistance. • Late joiners aren’t penalized. We read Cricles 2.0 by @koeppelmann , @_paulboes_ , and @tw_tter from @GnosisDAO — a social + monetary innovation that is a exciting relative to this cycle’s mega trends, and closer to the ethos that drew many to crypto in the first place. There are still many open questions: 1. How does this work in a world already dominated by stablecoins, Bitcoin, and other currencies? Will people likely off ramp? 2. Is there a natural limit to bootstrapping the network? 3. Is concentration and the power-law effect inevitable (nature) or human-made? 4. Which ecosystems are most likely to adopt Circles? 5. Has a similar experiment been tried — and failed — before? 6. Why would merchants and stores accept this currency? 7. How does Gnosis benefit (via SAFE, the chain), and is that value shared with the community? 🙏 Thanks to @SonglinChua, @0x_mailman & Matt from @openinternetclb and @gnosishq for making this session possible, and to @tw_tter for an hour of awesome Q&A :) 🎙️ Stay tuned for our upcoming deep dive podcast with @_paulboes_ on Circles 2.0. We are not sponsored — we do this because we think these ideas are fucking cool. More on Whitepaper Reading Club: wprc.club/en/about Links: 📄 Summary: docs.google.com/document/d/1… 📑 Paper: whitepaper.aboutcircles.com 🗂️ Past summaries: docs.google.com/document/d/1…