Delphi Daily

Hey everyone, today we have a repost of an article that appeared today in Bankless by our friend Ian Lee. Ian is a Managing Director at IDEO VC, a crypto fund backed by IDEO that invests and helps incubate early-stage crypto startups. We’ve been spending a lot of time chatting with their team recently and thought this write-up would be really beneficial for all our clients to read as well.

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Since publishing “Fast Follower Forks in DeFi” a few weeks ago, I’ve talked with many founders and investors about the implications and how to design fork-resistant (or embracing) protocols. More teams are preparing to launch fast follower forks in the coming days—and existing projects that have not yet launched a token are talking to their investors about restructuring their token cap tables to make them more “fair” (and thus more fork-resistant—or at least that’s the hope).

The protocol wars are officially upon us, marking a new era of crypto where competitive positioning and strategy matter as much as composability and collaboration.

As a former consultant with a focus on competitive strategy, I find this fun, familiar, and incredibly fascinating.

But it’s more than just intellectually interesting—competitive strategy is now critical to cr

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