Ethereum

Degen

April

when

Terra

<p class="is-style-lead">Vitalik Buterin thinks ‘degen communism’ can make the crypto economy fairer and promote a common good amidst the market’s inherent chaos.</p>
<p>The term ‘Degen communism’ merges the adventurous spirit of “degen” culture, known for its high-risk, high-reward investment strategies, with a structured approach to ensure that the fallout from market volatility disproportionately harms none.</p>
<p>Advocating for this approach, the Ethereum co-founder <a href="https://vitalik.eth.limo/general/2024/04/01/dc.html" target="_blank" rel="noopener noreferrer nofollow">proposes</a> a mechanism where smaller users are made whole first during any hack or project collapse before compensating larger stakeholders.&nbsp;</p>
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   <p lang="en" dir="ltr">Degen communism: the only correct political ideology<a href="https://t.co/CpFdMGCsJg" target="_blank" rel="noopener noreferrer nofollow">https://t.co/CpFdMGCsJg</a></p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1774796986732187715?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 1, 2024</a>
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<p>Buterin calls it a more equitable system, which he supported during the <a href="https://crypto.news/do-kwon-released-montenegro-prison-terra-luna-surges/" rel="noopener noreferrer nofollow">Terra Luna crash</a> in 2022. He also proposes that project teams mention this model in their terms of service, explaining that funds will be prioritized from the bottom up in insolvency.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/vitalik-buterin-ethereum-update-details/" rel="noopener noreferrer nofollow"> Vitalik Buterin reveals details on next Ethereum update </a></p>
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 <p id="block-eddb5b43-6a38-4036-9b37-38a47fdf8acc">“Two years ago, when I proposed this idea, many treated it with scorn, misrepresenting the idea as asking for government bailouts. Here, though, I am not proposing anything to do with governments; rather, I am proposing that project teams put into their terms of service an expectation.</p>
 <p id="block-03cd53ad-19bd-46a2-84e8-e40126fa3f15">The only request to governments is that appropriate rules get passed so that bankruptcy courts acknowledge the legitimacy of such arrangements.”</p> <cite>– Vitalik Buterin, Co-founder of Ethereum</cite>
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   <p lang="en" dir="ltr">need a lyftocracy to compete with the ubermensch<br><br>(or maybe some newfangled "depin" or whatever to compete with both)</p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1774798656958500937?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 1, 2024</a>
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<p>Buterin also extended his vision to <a href="https://crypto.news/meme-coin-rally-trader-stories/" rel="noopener noreferrer nofollow">meme coins</a>, suggesting that such projects donate a portion of their issuance to charitable causes, helping whimsical cryptocurrencies foster a sense of community and shared responsibility.</p>
<p>Buterin also advocates for airdrops that favor individual users and public good contributors and encourages governance models that prevent the concentration of power.</p>
<p>Read more: <a href="https://crypto.news/crypto-investment-product-inflows/" rel="noopener noreferrer nofollow"> Crypto investment products see inflows of $862m </a></p>

Vitalik Buterin shares new proposal to build a fairer crypto economy

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