On Scarcity
I have been looking at the liquidity pools.
And what I am seeing is not what I expected to see at this point.
The main pool is almost empty of whole integer uPegs.
When I designed the mechanism, I understood scarcity would emerge. Fractional dust accumulates. Whole integers become harder to generate. Every reroll adds dust. Every atomic selection accelerates this. I wrote about it. It was always the design.
What I did not anticipate was the speed. It compounds. It does not slow. Nor should it.
A new class of participant has emerged. Rarity miners. The tools exist now.
I did not build for this. The mechanism produced it. And what it produces next exceeds anything I originally envisaged. That is the nature of it.
For the first time, two worlds that have always operated separately are occupying the same space. Token traders and NFT collectors. The same contract. The same object. Different reasons for being here. The mechanism does not distinguish between them.
The irony is sharp. The more sophisticated the mining, the more the rarest outputs are validated as exceptional. The tools do not diminish rarity. They confirm it.
And soon there will be microPEGs. A layer between dust and whole integers. Liquidity that solidifies from the bottom up. The further you look from the top, the scarcer the assets. The further you look from the bottom, the stronger the foundation.
Another layer. The squeeze tightens further.
The mathematics were set at genesis. They cannot be changed.
I built the conditions. The market built the rest.
When you begin to look at the numbers carefully, the picture becomes clear. I will not speculate on what follows. Like you, I am watching this play out.
0xhadrian.eth