Crypto Twitter legend Cobie gives his thoughts on the latest Bored Ape staking proposal, and how the word "Staking" in crypto has mutated away from its original meanings. Is the latest proposal a cynical attempt to provide more exit liquidity for early investors or not?
"We should’ve protested the repurposing of the term “staking” from being a reward for work in a consensus mechanism, with risk of losing collateral, into this current “idk just lock it off market to receive more coins risk-free lol” but it’s probably too late for that now. I imagine the Gensler-police are very pleased that the conflation has occurred, since the term is now inherently misleading and can mean several different things."