# Best of farcaster.xyz/polynya on Kiwi News Page: https://news.kiwistand.com/source/farcaster.xyz/polynya 25 stories by @polynya on Farcaster have been shared on Kiwi News since 9 April 2024, with 106 upvotes and 29 comments in total. The latest was shared on 5 June 2026. They are listed below, most upvoted first. Summaries are AI summaries of the linked article. ## 1. Farcaster should be aggressively focused on social values over financial values - Kiwi News: https://news.kiwistand.com/stories/Farcaster-should-be-aggressively-focused-on-social-values-over-financial-values?index=0x66863e64c160b5ff7e940dc2ca370412f72227550e490852500cc80141a18689b5afa7a3 - Source: https://warpcast.com/polynya/0xbeef00dd - Shared 4 July 2024, 12 upvotes, 10 comments The author, who quit a large Twitter audience to join Farcaster a year ago, argues that Farcaster should focus aggressively on social values over financial values in design, engineering and marketing. The post says the early "list" of recommended accounts made sense but should become opt-in, because engagement inequality is very real. It also claims that financial incentives make a handful of users very active while most others are bots, and it notes that this focus would conflict with the financial emphasis, unless the target market is degens. ## 2. @polynya: Why most legacy L1 haven't migrated to L2 despite technical advantages - Kiwi News: https://news.kiwistand.com/stories/polynya-Why-most-legacy-L1-havent-migrated-to-L2-despite-technical-advantages?index=0x6875f3544360b63d0c6c21ba69ca11c66b19896d3963faf76b9744ad5816a2676159511b - Source: https://farcaster.xyz/polynya/0x35bd762b - Shared 15 July 2025, 7 upvotes, 1 comment Polynya argues that most legacy L1 blockchains have not migrated to L2 despite the technical advantages, and offers several possible reasons. Since 2021, nearly all major new chains have launched as L2s, including Unichain, Coinbase, Kraken and Robinhood's chain, with Hyperliquid as the exception. The proposed reasons include application demand growing far below expectations, leaving most L1s with little activity and no need for L2 performance or interoperability, and L2 and blob development slowing since 2022. Polynya also suggests that much of some L1s' token value depends on opposition to Ethereum, and that the industry's shift toward speculation has reduced the weight given to decentralization and security. ## 3. @polynya: USDC on Ethereum adds intermediaries, making it less decentralized - Kiwi News: https://news.kiwistand.com/stories/polynya-USDC-on-Ethereum-adds-intermediaries-making-it-less-decentralized?index=0x689c30f42f1b5d35fc1fd031b725f2e1a00726c89e9adf64514d06e1fde5792cf0d5a8dd - Source: https://farcaster.xyz/polynya/0x894c7ba8 - Shared 13 August 2025, 7 upvotes, 0 comments Polynya argues that deploying USDC on Ethereum makes the stablecoin less decentralized by adding intermediaries, mainly a few thousand node runners, that are unnecessary for many use cases. He says USDC is issued by Circle, a publicly owned company regulated by government agencies, and that Ethereum is very centralized but differently so. He adds that Ethereum or Tron are not the best technology for most stablecoin payments, though they suit some cases, such as jurisdictions that restrict USDC and access to Ethereum DeFi. ## 4. AMA polynya - Kiwi News: https://news.kiwistand.com/stories/AMA-polynya?index=0x66fe5d088acfebd39c08bd96bebcf14be82beda78f098bfb89ae5d9a4979dca6fe893ac4 - Source: https://warpcast.com/polynya/0x2d3201be - Shared 3 October 2024, 7 upvotes, 0 comments ## 5. Polynya: Definancialize - Kiwi News: https://news.kiwistand.com/stories/Polynya-Definancialize?index=0x6614fb58c80337a2592756f2b43d40b6e85ea9f99c0906ca18d00a409850939761a88026 - Source: https://warpcast.com/polynya/0x5a418e66 - Shared 9 April 2024, 6 upvotes, 5 comments ## 6. @polynya: crypto's descent into greed and nihilism - Kiwi News: https://news.kiwistand.com/stories/polynya-cryptos-descent-into-greed-and-nihilism?index=0x67b1a092420f1edc0d45d65ea337756a7c6e67a0ca628f75bb0954c452fd8c34befdd466 - Source: https://warpcast.com/polynya/0xbedce64c - Shared 16 February 2025, 5 upvotes, 5 comments ## 7. @polynya: crypto repeats historical mistakes with DAOs, DeFi, and gambling - Kiwi News: https://news.kiwistand.com/stories/polynya-crypto-repeats-historical-mistakes-with-DAOs-DeFi-and-gambling?index=0x69771a57cd10db81c3bf66abb95788f911d746bd53a9642d3727b98e63ad4513b1d6a88a - Source: https://farcaster.xyz/polynya/0x40a8904c - Shared 26 January 2026, 5 upvotes, 0 comments Polynya argues that crypto keeps repeating mistakes that real-world history has already documented, attributing this to cryptobros being either ignorant of or delusional about that evidence. The post says DAOs should have been based on cooperatives rather than public companies, which would have made them genuinely decentralised instead of corporatist theatre. It also argues that DeFi tried mechanisms that economic history had already shown to fail repeatedly, and that the industry should have shifted from infrastructure to applications in 2021/22, when growth in demand has since been a negligible fraction of even pessimistic expectations. Gambling is cited as having devastated economies many times, with crypto's worst gambling described as encouraged without resistance and as having destroyed the altcoin market. ## 8. @polynya: crypto industry has normalized gambling over building products - Kiwi News: https://news.kiwistand.com/stories/polynya-crypto-industry-has-normalized-gambling-over-building-products?index=0x6901532bc69581b53fe7e14992f603536e09ad9b3e299ac9059fb63a0d65bf1d11dd654d - Source: https://farcaster.xyz/polynya/0x3a251330 - Shared 28 October 2025, 5 upvotes, 0 comments A post by @polynya argues that the crypto industry has moved from building products to gambling, and that this shift has become institutionalized and normalized, with even the biggest players deep in it. The author uses "gambling" in a broad sense and says similar behavior is visible in AI stocks and gold. The post states that gambling's total addressable market is 1,000 times larger than building actual products in the short to medium term, and it says the few sustainable products are better than ever. It adds that the author respects those who are clear they just want to extract value. ## 9. @polynya: Regulated stablecoins don't need blockchains - Kiwi News: https://news.kiwistand.com/stories/polynya-Regulated-stablecoins-dont-need-blockchains?index=0x689ac548f7e772277c40c27602e38228177cb1bd582f2e8011c4b480beb1650e2bde482a - Source: https://farcaster.xyz/polynya/0xdc0be45e - Shared 12 August 2025, 5 upvotes, 0 comments Polynya argues that regulated stablecoins no longer need blockchains, since regulatory acceptance means they do not need the strict global consensus property blockchains provide. He suggests regulated issuers such as Tether and Circle could run their own infrastructure, with blockchains as one option, and that transacting directly with centralized exchanges like Binance might be prudent because much consumer stablecoin use happens there. He also expects stablecoins to remain a large part of Tron and Ethereum (including L2s) given their network effects over the last decade, while unregulated products such as USDS and LUSD will continue to depend on Ethereum. ## 10. @polynya: Uniswap v4 marks a milestone in crypto product maturity - Kiwi News: https://news.kiwistand.com/stories/polynya-Uniswap-v4-marks-a-milestone-in-crypto-product-maturity?index=0x681082c742457ca81f804545b102d136bf069e30d4e31f72117b0ba0bbe2cd23d07bae6b - Source: https://warpcast.com/polynya/0x275dcdca - Shared 29 April 2025, 4 upvotes, 2 comments Uniswap v4 is described as crypto's first complete product, with its core purpose now seen as finished for the foreseeable future. The author, identified in the title as @polynya, notes that v3 was already nearly complete, and that v4 took about four years to build compared with roughly one year for earlier versions. Future additions such as unified liquidity and responses to infrastructure changes like quantum-resistant zkVMs could still justify a v5, while remaining work is said to lie in governance and social areas. Aave v4 is named as the next likely complete product. ## 11. Crypto industry chose plutocracy over neutral tech, blockchains are transitory - Kiwi News: https://news.kiwistand.com/stories/Crypto-industry-chose-plutocracy-over-neutral-tech-blockchains-are-transitory?index=0x68be63ffa502f60c3819b08e57214827833b6099a94b9062cac89b67cf4715e351ee4224 - Source: https://farcaster.xyz/polynya/0x47d1c9d8 - Shared 8 September 2025, 4 upvotes, 0 comments The commenter argues that the crypto industry has chosen plutocracy and corporatocracy over neutral technology, and that blockchains are transitory tech likely to be made obsolete. They say institutional speculation offers a market 3-4 orders of magnitude larger, making it more important to pump holdings than to deliver maximally neutral technology. They also argue that holders invested in a ticker rather than in a blockchain's technology should embrace better-suited alternatives under their banner rather than dismissing them as bearish. ## 12. @polynya: Infinite chains and composability coming, but demand real bottleneck - Kiwi News: https://news.kiwistand.com/stories/polynya-Infinite-chains-and-composability-coming-but-demand-real-bottleneck?index=0x683e97ddbc8bbd856f8dd3d640963385f42e391e04d5510080b9d5740cbbd301d2a7eb15 - Source: https://farcaster.xyz/polynya/0xaaec09ec - Shared 3 June 2025, 4 upvotes, 0 comments The author argues that infinite chains, composability and scalability, verified on a phone through a single infinitely recursive ZK proof, are coming, possibly sooner than the roughly 2031 they had expected, though still years away. The post contends that this is not the current bottleneck and that the real focus should be on stimulating demand. It cites Ethereum L2s barely filling three blobs for over 15 months and says the wider industry has been oversupplying blockspace for more than three years, with the gap widening. ## 13. Crypto's broken moral compass - six months later - Kiwi News: https://news.kiwistand.com/stories/Cryptos-broken-moral-compass-six-months-later?index=0x66efd49ac03891a099821b43b541f6044d4bc25b048e740ca5dfb101b539f34a4fd68585 - Source: https://warpcast.com/polynya/0x273bebe0 - Shared 22 September 2024, 4 upvotes, 0 comments The author, who previously worked in crypto, argues that the industry remains among the most morally bankrupt and worst they have personally participated in, six months after their last blog post. They say vile degeneracy has eased only because shitcoins are down 99% since March 2024, not because lessons have been learned, and they expect the same pandemonium to repeat. They express respect for the 0.1% of the industry they consider net positive for humanity and hope the rest will share those values. ## 14. old man yells at cloud - Kiwi News: https://news.kiwistand.com/stories/old-man-yells-at-cloud?index=0x6629eef1dc76e696f2010c05eaffb228737a6ab2e3a81357d80a375237e644aa88c1c0a4 - Source: https://warpcast.com/polynya/0x80891611 - Shared 25 April 2024, 4 upvotes, 0 comments ## 15. Fuck "info finance" with a bag of stale scrotums - Kiwi News: https://news.kiwistand.com/stories/Fuck-info-finance-with-a-bag-of-stale-scrotums?index=0x673070bc9323c44d56846469d757bc1b89e58ce7f935c0551f284b576b4220f79e0b9cf4 - Source: https://warpcast.com/polynya/0xafead6e2 - Shared 10 November 2024, 3 upvotes, 1 comment The author argues that financialization works for objective matters like capital allocation and exchange of goods, but that forcing subjective human matters into objective numbers can lead to catastrophic outcomes. The piece blames plutocracy, which it describes as determining governance and even truth by wealth, and rejects "info finance" on that basis. Wait, I need to correct that: the summary must not use "the author" framing. Here is the revised version: Financialization works well for objective matters such as capital allocation and exchange of goods, but forcing subjective human matters into objective numbers can lead to potentially catastrophic outcomes. The root cause is plutocracy, described as determining governance by wealth and, in the worst case, truth itself. The piece rejects "info finance" outright, calling plutocracy a dystopia and an affront to humanity. ## 16. about ‘eth goes hard’ - Kiwi News: https://news.kiwistand.com/stories/about-eth-goes-hard?index=0x6729d4ffd31f6f060cb0f361f9b06d4bd33dbd547c48e8fa3bd32824c40d58950a7e3ebd - Source: https://warpcast.com/polynya/0xf45864f6 - Shared 5 November 2024, 3 upvotes, 1 comment The commenter argues that Ethereum's distinctive property is objective, strict global consensus and nothing else, so it suits only use cases that need that kind of consensus. Money, contracts, governance, identity and law are described as areas where Ethereum can handle only a very limited, objective slice, and governance and law are called almost entirely subjective with negligible scope for it to help. The commenter claims that 99.99% of economics and institutions are subjective and cannot be interpreted by Ethereum or blockchains in general, and says forcing subjectivity into code has produced disastrous outcomes in crypto. ## 17. VCAOs - Kiwi News: https://news.kiwistand.com/stories/VCAOs?index=0x672734eb07f132f99c754b0ec27476b6a58e6160cfa6b98b49359950bdf1d269f9164ac1 - Source: https://warpcast.com/polynya/0x9343b99e - Shared 3 November 2024, 3 upvotes, 1 comment The author of this short post argues that DAOs need not follow the token-based public company model and could instead adopt a worker or consumer cooperative structure with democratic voting and vetoes, which they say would avoid control by a few large token holders. The post links this to the idea that blockchains can only reach strict global consensus, and it suggests that building a strong protocol to attract users could be a better long-term goal than token speculation. ## 18. @polynya: crypto revenue metrics are dangerous, 90% derived from speculation - Kiwi News: https://news.kiwistand.com/stories/polynya-crypto-revenue-metrics-are-dangerous-90percent-derived-from-speculation?index=0x6a2268b9223b68122dcd5d7f200209e79a95c6bfa166911fa91c7601deb5e66b0653293d - Source: https://farcaster.xyz/polynya/0x4708cf2d - Shared 5 June 2026, 3 upvotes, 0 comments @polynya argues that revenue and cashflow metrics promoted by crypto advocates are dangerous because the industry is built on speculation and hodling. Over 90% of trading and transaction fees and related revenues come directly from speculation, and eroding the industry's belief in its money would lead to a collapse of more than 90% industry-wide. It warns against extrapolating from speculative manias and says baseline figures should be examined deep into a bear market instead. ## 19. @polynya: crypto repackages existing paradigms, corrupts good tech potential - Kiwi News: https://news.kiwistand.com/stories/polynya-crypto-repackages-existing-paradigms-corrupts-good-tech-potential?index=0x69f05e78a8b374b0fde59a45a846ee4023572f3eb5edeae38ac130eec5fa2bcbf72d2f37 - Source: https://farcaster.xyz/polynya/0x381796b8 - Shared 28 April 2026, 3 upvotes, 0 comments The post argues that crypto repackages existing financial ideas under new names, such as ICOs for IPOs, NFTs for collectibles, prediction markets for betting, and DAOs for public companies, while stripping out safeguards and accountability. It adds that Terra Luna is an example of a long-failed idea promoted as innovation. The author says that behind these schemes lies good technology, such as governance-less digital protocols, whose potential has been obscured by corruption. ## 20. @polynya: Application demand hasn't met expectations leaving 99% of infra unused - Kiwi News: https://news.kiwistand.com/stories/polynya-Application-demand-hasnt-met-expectations-leaving-99percent-of-infra-unused?index=0x699abc7c8ed14346b2dffdd0ac29e17ad23f8e62fc3938f05a2b22d9d7fb772e720241f7 - Source: https://farcaster.xyz/polynya/0x642c1396 - Shared 22 February 2026, 3 upvotes, 0 comments Polynya argues that the core problem facing blockchain infrastructure is that application demand has grown far below expectations for about five years, leaving over 99% of the infrastructure built unused. The post says that fixing this requires understanding the fundamental properties and limitations of public blockchains and building, improving, and marketing compatible applications. It acknowledges a small increase in application activity since the 2023/24 memecoin trough but calls it a negligible fraction of where the industry should be. The author states they have made this argument since 2022. ## 21. @polynya: Fully private CBDCs are ideal, eliminate middlemen like Tether/USDC - Kiwi News: https://news.kiwistand.com/stories/polynya-Fully-private-CBDCs-are-ideal-eliminate-middlemen-like-TetherUSDC?index=0x68bd2ba99c26bac24c4344e01bdae6e98d9d93d9152cfae38b84c7ea8e09408b7c4481ea - Source: https://farcaster.xyz/polynya/0x5df126d7 - Shared 7 September 2025, 2 upvotes, 1 comment ## 22. @polynya: Trump/Musk doomed when crypto Twitter hyped them like SBF, Do Kwon - Kiwi News: https://news.kiwistand.com/stories/polynya-TrumpMusk-doomed-when-crypto-Twitter-hyped-them-like-SBF-Do-Kwon?index=0x6843ff55fc8b3e5e98a42c49fab3205d21c599a876d9dcc8332f5adca5bae77723114a70 - Source: https://farcaster.xyz/polynya/0x0b5a266e - Shared 7 June 2025, 2 upvotes, 1 comment ## 23. @polynya: critical improvements needed in crypto ecosystem - Kiwi News: https://news.kiwistand.com/stories/polynya-critical-improvements-needed-in-crypto-ecosystem?index=0x68283029ca6a579efad58d6f162a76fabf2a2efefdbb2c4ae6f121b06fae99720bafac8d - Source: https://warpcast.com/polynya/0x0acb6f40 - Shared 17 May 2025, 2 upvotes, 1 comment Polynya lists improvements they would like to see in the crypto ecosystem, saying crypto is already fine for their personal use. The top priority, marked critical, is configurable withdrawal rate limiting in Safe and smart wallets, and in smart contracts generally, which they say would be a standard. They say that without it they significantly limit their crypto usage. Other items include stage 2+ decentralisation for L2s, a complete overhaul of Tron, which they note is where normies receive USDT, and EUR stablecoins with liquidity. ## 24. @polynya: Bitcoin block size wars proved gambling TAM beats utility by 1000x - Kiwi News: https://news.kiwistand.com/stories/polynya-Bitcoin-block-size-wars-proved-gambling-TAM-beats-utility-by-1000x?index=0x68c7ac33b96db42dbaa56ad7ff5acbc0f25e28b58f5b7ea520eb364cbd5fb9d38c96e510 - Source: https://farcaster.xyz/polynya/0x08ab76f7 - Shared 15 September 2025, 2 upvotes, 0 comments @polynya argues that speculation drives crypto market value far more than utility, citing the 2017 Bitcoin block size debate as evidence. In November 2017, Bitcoin Cash reached nearly 50% of Bitcoin's market cap, with a substantial minority convinced it would overtake Bitcoin. Eight years later, Bitcoin remains barely utilized despite its anemic block size yet has become a multi-trillion dollar asset, while Bitcoin Cash is at 0.5% of Bitcoin's market cap, about 1/100th of its peak. ## 25. AGI will obsolete blockchains - Kiwi News: https://news.kiwistand.com/stories/AGI-will-obsolete-blockchains?index=0x668d089fd6596b7f089364d4fcc3eec301168e262336c24228cffe64a74c261d034e1da1 - Source: https://warpcast.com/polynya/0x18f15240 - Shared 9 July 2024, 1 upvote, 0 comments The author argues that AGI will make blockchains obsolete, though blockchains will likely lose most of their use cases to non-blockchain peer-to-peer, zero-knowledge, and trust infrastructure within a few years, well before AGI fully arrives. The post contends that blockchains are limited to objective strict consensus, while AGI systems could reach complex, subjective consensus, so the idea that AGIs will use blockchains is dismissed as a meme. It also holds that valuable cryptoassets like BTC and ETH will outlast the blockchains that carry them, since the underlying socioeconomic movement matters more than the technology. The post notes that "AGI" is itself vague and assumes it will behave as people popularly expect.