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Shaun Martinak
Portfolio Manager at Coinbase Asset Management
Shaun Martinak is a prominent figure in the finance and investment industry, currently holding key positions at Coinbase Asset Management. He serves as the Head of Project Diamond and also functions as a Research/Portfolio Manager within the company.13
Professional Background
Martinak's career is marked by his expertise in blockchain technology and asset management. At Coinbase Asset Management, he leads the blockchain engineering team responsible for developing Onebridge, a set of connected protocols designed to enhance the functionality of blockchain systems.2
Education and Skills
Shaun Martinak holds an MBA in Finance from NYU Stern School of Business, which has undoubtedly contributed to his success in the financial sector.1 His educational background, combined with his practical experience, has equipped him with a deep understanding of both traditional finance and emerging technologies like blockchain.
Current Role and Responsibilities
As a Portfolio Manager at Coinbase Asset Management, Martinak is involved in:
- Leading the blockchain engineering team
- Developing innovative blockchain solutions, particularly Onebridge
- Managing and researching investment portfolios
- Contributing to the strategic direction of Coinbase Asset Management
Professional Network
Martinak has established a significant presence in the professional world:
- He has over 2,000 followers on LinkedIn
- His network includes more than 500 connections1
This extensive network reflects his influence and reputation in the industry.
Shaun Martinak's role at the intersection of traditional finance and blockchain technology positions him as a key figure in the evolving landscape of digital asset management.
Highlights
Wednesday's Digital Daily following two great pieces this week from Marcel Kasumovich.
Boo!
‘Tis the season to be scared. What’s the scariest thing about digital financial rails? Bridges.
Bridging data between networks is commonplace, but when that data is also cryptographic digital property rights for bearer instruments, the cost of error can be very high.
To date, most bridges have used a “wrapped-assets” model, with tokens collected in a smart contract on their native chain and an equivalent “wrapped” token printed at the destination. Want to return home? Submit your wrapped token and unlock its twin on the original chain.
The problem? One-way demand builds up huge token pools, daring creative thieves. Headline-worthy hacks left many users with the impression that bridging is fundamentally unsafe.
Today, in a builder’s market, bridges are evolving.
Circle’s Cross-Chain Transfer Protocol (“CCTP”) takes a different path. They take temporary ownership by burning your digital dollars at the source and minting them again, natively, at the destination.
Another example is Chainlink’s new Cross-Chain Interoperability Protocol (“CCIP”), a network of offchain oracles to watch over token transfers, ideally making them more resilient than a single smart contract.
The Ethereum community has also introduced a new proposal that puts the token issuer in control of bridge activity, and offers rate limits so no hacker could make off with the whole stash at once.
Applications are already being built to take advantage of these cross-chain capabilities. Maybe it’s time to look past the vampire attacks, zombie protocols, and hack horror stories that strike fear into your heart. Halloween’s over.
https://lnkd.in/eUsvder5
First, I recommend you go see Marcel Kasumovich in Abu Dhabi for Fish Soup Wednesdays. I guarantee Gandofly won't disappoint (I was at the inaugural event). All are welcome!
On to today's note: "Narrowing"
Could broad participation in Ethereum's network be narrowing?
For proof-of-stake networks, like Ethereum, that participation comes in two forms: doers and financiers. The doers run hardware and take operational risk – the “sweat equity” to network consensus. The financiers delegate duties, which is much more scalable.
On Ethereum, the participation of financiers has ballooned, expanding the set of validators past 863,000, and driving staking yield down below 4%. More money, more problems – checking all 863,000 signatures is now stressing computational limits.
Over 30% of those validators are concentrated in Lido’s liquid staking protocol, a hair’s breadth away from one-third control that could halt the network if there were a bug. Ethereum’s co-founder proposed mitigants as a cure to the threat.
Top of mind is carving the validator set in two groups – an “always-on” set of high effort participants, the core doers, and a second tier with no rewards or risk of capital loss who rotate randomly to watch over the paid operators.
The idea is just a starting point, a nudge to a broad developer community to consider improvements. Changes like it would clear computing overhead and also significantly lower new issuance to pay validators. Computer networks are always driving towards max efficiency.
Is that good in this case? As decentralized networks integrate into essential global infrastructure, many investors hope to scale their exposure and harvest digital yield. Overpaying to incentivize broad participation could be the cost of entry, reinforcing network effects.
In the end, efficiency matters. But broad adoption is everything.
(For the visuals, I'll lean on generative, on-demand art to bring a technical note to life this week.)
https://lnkd.in/eKxyQ9mi
