Resilient DeFi with Kirk Hutchison | Layer Zero
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 28 June 2022
⏱️ 72 minutes
🧾️ Download transcript
Summary
Kirk Hutchison is the Co-Founder of Volt Protocol, an inflation hedged stablecoin built on Ethereum. Kirk is widely known as the gigabrain’s gigabrain when it comes to all things DeFi.
As inflation continues to rise, Kirk couldn’t have joined at a better time. However, Kirk and David dive into much more than inflation.
On this episode, Kirk explains symmetric money systems, self-referential feedback mechanisms, the problems with DeFi today, what Volt is and its future, and so much more.
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Topics Covered:
0:00 Intro
4:45 What Kirk Thinks About
8:36 Decentral Bank Terms Explained
13:45 What is a PSM?
18:16 The Bankless Thesis
21:20 Fully Symmetric Money System
28:05 Why is Fixed Rate a Problem?
32:12 Self-Referential Feedback Mechanisms
40:45 The Problems with DeFi Today
47:40 DeFi Utopia vs. Dystopia
1:00:55 What is Volt & Its Future?
1:09:25 Governance Token Design
1:13:35 8% Yield to Combat Inflation in DeFi
1:19:20 Closing
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Resources:
Kirk
https://twitter.com/OneTrueKirk
Volt Protocol
https://twitter.com/voltprotocol
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
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| 0:00.0 | Welcome to Layer 0. |
| 0:08.0 | Layer 0 is a podcast of unscripted conversations with the people that make up the Ethereum community. |
| 0:13.0 | Crypto is built by code but is composed by people. |
| 0:15.0 | Each individual member of the crypto community has their own story to tell. |
| 0:19.0 | CypherPunks understood that the code they write impacts the people that use it, |
| 0:22.0 | and Layer 0 focuses on the people behind the code because Ethereum, these people all the way down, |
| 0:27.0 | and it always has been. |
| 0:28.0 | Today on Layer 0, I'm talking with Kirk Hutchison of Volt. |
| 0:32.0 | Volt is an inflation hedge stablecoin. |
| 0:35.0 | It's a stablecoin that is hopefully designed to restore and retain its value as inflation goes up and up, |
| 0:42.0 | which is a very timely conversation. |
| 0:44.0 | However, we don't actually start the conversation there. |
| 0:46.0 | Kirk has been recommended to me by many, many different people from across the DeFi ecosystem |
| 0:51.0 | with universal consensus about this gigabrain nature of this guy Kirk. |
| 0:55.0 | In order to meet this guy Kirk and get to know why everyone respects him, |
| 1:00.0 | I just decided to pull him straight onto a podcast. |
| 1:03.0 | We dive down the rabbit hole of some very primitive DeFi concepts that we haven't really revisited in Vegas for a very long time. |
| 1:12.0 | This concept of no magic numbers when we design our DeFi protocols. |
| 1:16.0 | Anything arbitrary in a DeFi protocol is fragile, and if it's fragile, it's going to break. |
| 1:21.0 | We talk about that concept. He also is very, very attuned to the world of monetary policy in economics |
| 1:27.0 | and trying to apply the lessons of tradfie and economic history into the lessons of DeFi. |
| 1:32.0 | Rather than this being a more typical Layer 0 episode where I'm actually trying to go into the soul and personality of our guests, |
... |
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