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The Math Behind The Madness

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Recently, Patrick Collins and I entered into the EthGlobal hackathon and created Tweether, an on-chain governance protocol that anyone can use to submit and vote on tweets.

When we were planning the project, we split the work into two parts:

  1. The governance protocol, for which I was responsible for.
  2. And the oracle which would do the tweeting, which Patrick was in charge of.

The purpose of this article is to explain part one: the governance protocol. I’ll walk through the main concepts, the maths behind it, and how I got there.

The Premise

Tweether aims to be a platform that democratises tweeting from a particular account. Users of the protocol should be able to propose tweets and vote on them if they deem them worthy of being tweeted. …


Does it work yet?

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Image by mohamed Hassan from Pixabay

The 18th of September was like any other day for the first few hours. Get up, have breakfast, check Twitter… wait, why is Uniswap trending? It didn’t take long to discover the reason for the explosion in Uniswap tweets was due to the sudden announcement of Uniswap’s own token: $UNI. Better yet, how it was being distributed.

400 $UNI tokens were distributed to every single address that had ever used the platform in any way, even if that consisted of a single (even failed!) transaction. Not only that, but there was extra handed out for long term liquidity providers.

Obviously, I frantically navigated Uniswap, which was struggling from thousands of others doing the same thing, to check if I had a claim to make. And make it I did, incurring substantial fees in the process due to the announcement causing spikes in GAS prices. …


Get crypto prices in a single function call

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Photo by Miloslav Hamřík on Pixabay.

The price of a LINK token has all but doubled in the past month, moving from around a steady $4 to a whopping $8 in a very short time. This is in no small part down to the Chainlink Oracle network, which provides a platform to call any external API from within smart contracts as well as a Verifiable Random Function for Solidity.

While both of these products are extremely powerful tools, they follow the Request & Receive cycle, which is not instantaneous. …

About

Alex Roan

Engineer and Technical Writer at Chainlink Labs.

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