

Erik Voorhees "Worthy of Ignoring" Says Coinbase Senior Engineer



Yuga Cohler described Voorhees' ideas at Permissionless II as "jejune, anti-democratic, and disingenuous", suggesting that they should be ignored.
Summary
- Erik Voorhees, CEO of ShapeShift and early Bitcoin adopter advocated for a decentralized, rule-based system in his keynote speech at Permissionless II, emphasizing the superiority of code over traditional legal frameworks.
- Coinbase senior engineer, Yuga Cohler has criticized Voorhees' speech as “anti-democratic, and disingenuous,” asserting that while code has its merits, democratic systems should not be dismissed.
Erik Voorhees, CEO of crypto exchange, ShapeShift, and an early Bitcoin adopter, recently delivered a keynote speech that kicked off Permissionless II on Septemer 11, stirring up significant debate within the crypto community. In his speech, Voorhees argued that "code is better than law" and championed the idea of a decentralized, rule-based system for governing transactions. While his speech resonated with some, it also garnered criticism from a senior staff software engineer at Coinbase, Yuga Cohler.
Cohler did not mince words in his critique, describing Voorhees' speech as "jejune, anti-democratic, and disingenuous." He went on to suggest that while Voorhees' message might appeal to libertarians, it is fundamentally divorced from the realities of global crypto adoption and, as such, is "worthy of ignoring."
One of the central themes of Voorhees' speech was the belief that code should take precedence over traditional legal frameworks. He argued that transparent, mathematically-based rules could lead to better outcomes than opaque, politically-driven processes. Cohler acknowledged the merit in this perspective but took issue with Voorhees' dismissal of democratic systems.
“The reality is that Voorhees - and all of us - do submit to these permissions because we recognize the rule of law under a democratic system, arrived at through voting and lawmaking,” Cohler added.
Cohler argued that democracy, imperfect as it may be, represents a significant step forward in political progress and should not be scorned. He highlighted the importance of democratic institutions and the need to work within the established legal and regulatory frameworks. Cohler also questioned Voorhees' willingness to comply with regulations and pay taxes while simultaneously advocating for a system that bypasses these mechanisms.
Erik Voorhees, known for his involvement in various crypto ventures, has played a significant role in shaping the crypto landscape. However, Cohler's critique suggests that Voorhees' idealistic and dogmatic approach may hinder the adoption of crypto on a global scale. Cohler encourages the crypto community to recognize the merits of democracy and work within the existing system to expand the reach of cryptocurrencies.
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Gyrowin: Revolutionizing Gaming and DeFi with Cross-Chain Innovation

Powered by its native token GW, Gyrowin combines the excitement of lottery games with the security and transparency of decentralized finance to offer users exciting rewards.
Gyrowin, a groundbreaking cross-chain decentralized gaming, liquidity, and asset management platform, is making waves in the world of blockchain technology and DeFi. With a mission to provide transparent and fair reward distribution, Gyrowin is set to redefine how players engage with lottery games and DeFi protocols. Let's delve into the key aspects of this innovative project.

Lottery Games for Fun and Profit
Gyrowin recognizes the enduring popularity of lottery games and is capitalizing on it. Offering a range of lottery games integrated with staking, lending, and borrowing protocols, Gyrowin allows players to have fun while winning. The platform operates game liquidity pools on major chains like BNB Chain, Polygon, Tron, and Solana, offering a diverse gaming experience.
The platform’s variety of cross-chain lottery games include the 6/41 Lottery, Gylotto, 5/9 Lottery, 10 minutes Lottery, and Instant scratch NFT Lottery. This cross-chain approach ensures accessibility and inclusivity for players across the crypto landscape.
Tokenomics
At the heart of the Gyrowin ecosystem lies its native token Gyrowin ($GW), designed to serve multiple functions, including governance voting, liquidity currency, and incentives for DeFi users. The token structure is meticulously balanced, with allocations for various purposes, including liquidity, reserve, marketing and more, ensuring a sustainable supply-demand ratio. Notably, Gyrowin implements a burning mechanism and regular buybacks to maintain token value. Learn more about the token distribution and allocation here.

Borrowing and Lending with Ease
Gyrowin offers a cross-chain DeFi platform for borrowing and lending tokens across multiple chains, introducing unified liquidity pools that provide higher APR for lenders. Users can borrow from different chains seamlessly, eliminating the need for collateral bridging. The platform also offers zero liquidation on collateral, enhancing user security.
Decentralization and Transparency
The platform places a strong emphasis on decentralization and transparency. Leveraging Chainlink oracle VRF for automation and accurate token price information, Gyrowin ensures fair lottery draws and automated lotteries. The platform also utilizes blockchain infrastructures like The Graph and layer zero for a seamless cross-chain experience.
Money Plant Staking and Freeze Lock
Gyrowin's staking process is designed to be competitive and rewarding for participants. Using a first-come, first-served approach and limiting staking amounts, Gyrowin offers higher yields in a short period. The platform’s innovative Freeze lock feature ensures that unlocked tokens are only available for use after a cooling period, providing additional security.
Smart Contracts and Audits
Security is a top priority for Gyrowin. The project's smart contracts have undergone thorough audits by leading security providers such as Hacken and Solidproof, ensuring the highest level of safety for users' assets.
Gyrowin is a game-changer in the blockchain and DeFi space, combining the excitement of lottery games with the security and transparency of decentralized finance. With its innovative approach to cross-chain functionality, governance tokens, and staking, Gyrowin is set to reshape the future of gaming and DeFi.
Stay updated with Gyrowin and its development via the official links:
Website | Twitter | Telegram | Docs
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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