The Rise of Decentralized Finance | Framework Ventures' Michael Anderson & Vance Spencer
Hidden Forces
Demetri Kofinas
4.8 • 1.6K Ratings
🗓️ 27 July 2020
⏱️ 57 minutes
🧾️ Download transcript
Summary
In Episode 148 of Hidden Forces, Demetri Kofinas speaks with Michael Anderson and Vance Spencer. Mike and Vance are the founders of Framework Ventures, a thesis-driven venture capital firm whose team of technologists, researchers, and investors partner with founders and teams to build token-based networks and develop the requisite cryptoeconomics, governance, and community to scale.
The team's focus is on the hot new space of decentralized finance, known as DeFi for short. They are the largest owners outside of the core team & exchanges of both the decentralized oracle provider Chainlink and the derivatives platform Synthetix.
Framework's investment thesis relies on three assumptions. The first is that (1) financial institutions will realize competitive advantages as smart contract functionality allows them to streamline costs and realize new revenue streams. (2) Permissionless open protocols will provide access to financial services to a wider range of people than is possible today. (3) Token-based business models have a competitive advantage over traditional business models for some technical products.
During this episode, we explore a number of use cases and applications that Framework's founders believe will drive value in DeFi. We discuss cryptoeconomics in the context of how to capture network value, the "chicken-or-the-egg" problem of initializing a two-sided network and consider a new approach to valuation that breaks with some of the models and formulas that were popularized during the ICO craze of 2017.
The team also discusses their investments in Chainlink and Synthetix, including a discussion about the tech, tokenomics, and community of these projects.
You can access the episode overtime, as well as the transcript and rundown to this week's episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.
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Producer & Host: Demetri Kofinas
Editor & Engineer: Stylianos Nicolaou
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Episode Recorded on 07/20/2020
Transcript
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| 0:00.0 | Today's episode of Hidden Forces is made possible by listeners like you. |
| 0:04.4 | For more information about this week's episode or for easy access to related programming |
| 0:09.7 | visit our website at hidden Forces. I.O. and subscribe to our free email list. |
| 0:16.4 | If you listen to the show on your Apple Podcast app, remember, you can give us a review. |
| 0:21.5 | Each review helps more people find the show and join our |
| 0:24.9 | amazing community. And with that, please enjoy this week's episode. And the What's up everybody? My guests on this episode of Hidden Forces are Michael Anderson and Vance Spencer. |
| 0:55.0 | Mike and Vance are the founders of Framework Ventures, a thesis-driven venture capital firm |
| 1:01.0 | whose team of technologists, researchers, and investors partner with founders |
| 1:06.5 | and teams to build token-based networks and develop the requisite crypto economics, governance, |
| 1:12.4 | and community to scale. |
| 1:15.3 | The team's focus is on the hot new space of decentralized finance, known as Defi, for short, |
| 1:21.5 | and are the largest owners of the decentralized Oracle provider |
| 1:24.8 | ChainLink and Derivatives Platform synthetics outside of the core team and |
| 1:30.0 | exchanges. Hidden Forces listeners have been begging me to cover this space and I'm very |
| 1:36.5 | happy that I finally got around to it. My choice to bring on framework is because when I'm |
| 1:42.3 | new to an industry I find that speaking with |
| 1:45.2 | investors who are focused on that space is usually the best way for me and by |
| 1:50.5 | extension for all of you to get a sense of the ecosystem, what's important, who the players are, |
| 1:56.8 | and what to focus on. |
| 1:58.8 | Likewise, the rundown to this week's episode is especially helpful to anyone new to the space but |
| 2:04.1 | honestly even if you think you know this sector the rundown will probably help you |
| 2:08.9 | it's over 20 pages long and I really focus heavily on two networks in particular, ChainLink and Synthetics, which are the two platforms that we spend the most time covering today. |
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