Eric

New to the crypto world

[Eric @CuriousCatEric]

@JupiterExchange @jup_academy Super stoked for this! Finally a structured way to learn all of Jupiter’s products while making the most out of onchain finance. Thank you!

[Eric @CuriousCatEric]

@Ronycoder @grok summarise this

[MR SHIFT 🦁 @KevinWSHPod]

This week, I'm releasing a 1 and a half hour conversation with @xxjzhum the president of @jupiterexchange the leading onchain super-app on Solana.

Xiao grew up in Communist China, became a professional concert pianist, then spent years doing landmark deals in private equity at KKR. Then he walked away from all of it to join Jupiter to make the defining bet that onchain finance is the future... Open, permissionless, and self-sovereign.

At Jupiter, he is helping to build the infrastructure for that future.

We talk about:
- Why Xiao left KKR - one of the most coveted seats in global finance - to go all in on on-chain.
- What most institutions are actually doing in crypto right now
- The Jupiter product philosophy
- Jupiter Global and the $5 trillion QR pay market
- Why Jupiter never raised external funding and still grew into nine-digit revenues
- The three pillars Xiao sees defining on-chain finance in the next 3-5 years
- Why tokenization is bigger than people think

And much more...

Podcast out this week!

[Jupiter @JupiterExchange]

JUP Rally Live: Catlumpurr Recap, JUP plan and more!

https://t.co/N8covPcBDM

[Jupiter @JupiterExchange]

We’re excited to share that we’re entering a partnership with KonMari to bring the Joy Movement onchain.

We’ll be exploring what crypto-native intellectual property can truly be, expanding to completely new audiences, and executing brand-new onchain economic models that the world has never seen before.

Join the movement by lighting up your country on the joy globe at https://t.co/2noPJgqNGD @sparkjoymvt

[Eric @CuriousCatEric]

@diamondARS_ @JupiterExchange Why is $WET DTF last straw for you?

[Eric @CuriousCatEric]

@kashdhanda @JupiterExchange The vision is getting clearer each time you guys share. Can’t wait to witness it all unfold in KL.

[Eric @CuriousCatEric]

@852luk This is so sad, I’m so sorry for your loss

[Eric @CuriousCatEric]

@NFTMuse_ So that’s how they see us eh? 😂

[Eric @CuriousCatEric]

@KevinWSHPod @weremeow Looking forward to the interview. What’s a highlight for you Kevin?

[Eric @CuriousCatEric]

@wassielawyer Love your passion!

[Eric @CuriousCatEric]

@JupiterExchange Excited to know what they’ve been working on over the past year!

[Eric @CuriousCatEric]

@Enter_Uranus Wish I was there!

[Eric @CuriousCatEric]

Just learned an analogy from @Shaaran5 that made blockchain click for me:

It’s like splitting a sensitive photo into a million fragments and letting random people hold one tiny piece but only you know how to reassemble it.

Feels a lot safer than one company holding everything. Thanks @KevinWSHPod for putting this podcast episode together!

[MR SHIFT 🦁 @KevinWSHPod]

Multipli's Trillion-Dollar Plan To Unlock Yield On Bitcoin And Gold, And What That Means For A Tokenised Economy

In this episode of DROPS, I sit down with @Shaaran5 , founder of @multiplifi, to discuss why Bitcoin, gold, and other traditionally “idle” assets are about to become yield-generating machines, how tokenisation will pull trillions of real-world assets on-chain, and what Multipli is building to capture that shift.

Across a wide-ranging conversation, Shaaran walks through his own journey from teenage Solidity hacker to exchange founder, then zooms out to the macro story: stablecoins, treasury yields, and why on-chain finance may be entering its biggest opportunity yet.

From Hackathons to a Million Users

Shaaran introduces himself in the simplest way possible: “I’m a coder… I just love introducing me as a developer because that’s how I pretty much started.” He began building on Solidity in 2015–2016, back when Ethereum was still early and he was young, too young for most traditional systems to take him seriously.

Hackathons became his gateway into crypto, partly because they were open and partly because he wanted to earn. He says plainly, “I initially started off with greed to be very honest.”

That early period was chaotic in the way only early crypto can be. He recalls winning Ethereum in hackathons, then struggling to sell it, eventually shelling out a huge amount on something random and feeling scammed. But when Ethereum’s price began rising in 2017, he came back with focus. He built a crypto exchange in India and scaled it to more than a million users.

That experience shaped his conviction, but it also taught him how fragile markets can be when regulation is uncertain. India’s tax changes crushed volumes almost overnight, forcing him to pause, step back, and observe the space.

The Fire in the Belly

Shaaran’s return to building comes from frustration mixed with belief. He loves blockchain at a technical level, but hates how the industry keeps repeating shallow patterns.

“The technology behind crypto, blockchain, is fantastic… but the fact that it’s being used for shilling and a bunch of Ponzi schemes…” is what pushes him. DeFi, in his view, is not mainstream at all. It is big in numbers and TVL, but tiny in real users. That gap between what the tech could do and what it is currently doing is where his energy comes from.

He frames the mission almost as a moral one.
If blockchain is powerful enough to rewire trust and ownership, then it should be solving real problems, not just stacking L2s nobody touches. His ambition is to make this “beautiful” thing accessible to people who have never used DeFi, or even fully understood crypto. That’s the emotional root of Multipli.

Why Money on Chain Needs Yield

A big part of the conversation centres on a deceptively simple claim: stablecoins are not stable. Shaaran argues they fall in real value by about 5% a year, because they are tied to a fiat system that needs constant inflation to function. The US earns about $4 trillion in revenue, spends around $6 trillion, and bridges the gap by issuing treasuries, effectively paying the world interest, so capital stays inside the system.

Stablecoins matter because they give people global access to dollars, even if the yield is not passed through. That lets the US sustain demand for dollars while gaining flexibility on rates.

Tokenisation Is Inevitable, But It Creates a Problem

Shaaran believes tokenisation will be the default form of asset movement. “Every single commodity and precious metal is going to be tokenised… to move assets from one end to another takes a lot of cost… but by using blockchain… It’s going to open and make things a whole lot efficient.”

In other words, tokenisation cuts friction, makes settlement cleaner, and turns slow markets into programmable rails.
But he quickly points out the missing piece: tokenised assets don’t automatically come with yield. If trillions of dollars worth of bank reserves, gold, private equity, and sovereign funds move on-chain, they may still earn zero unless something is built to make them productive.

This is the tension Multipli is leaning into. Tokenisation brings capital, but capital without yield is just a digital warehouse.

Multipli, Explained Like You’re Talking to Mum

Shaaran’s pitch is catchy: “If you want anything to multiply, you just use Multipli.” But behind it is a clean infrastructure idea: take non-yielding assets, tokenise them through partners, then deploy professional, risk-managed strategies to generate steady returns.

To demonstrate how he thinks about onboarding normal people, he says his mum loves gold and keeps it in a locker, paying storage fees while it does nothing. Multipli aims to flip that dynamic. “How about making that gold work for you? What if I say you could make 2 or 3% on the gold if you just have to click a button?” The pitch is not “get rich quick.” It is “stop letting your assets sit idle.”

He uses gold as the clearest case study. Multipli works with tokenisation partners and mints stablecoins against overcollateralised gold positions. Those stablecoins are then deployed to earn yield. Users get a more modest, risk-adjusted slice, around 3–6%, on assets that have historically produced nothing.

Overcollateralisation is there to protect against price swings: if gold ever dropped sharply, there is a buffer to liquidate safely and preserve user funds.

Why a “Small” Yield Can Be Huge

So I pushed through with a fair question: why take the risk for a 3–4% yield on something as precious as Bitcoin or gold? Shaaran’s answer is built on transparency and scale. Multipli’s smart contracts restrict where capital can move, and the strategies are run by serious TradFi-grade asset managers who already manage billions in regulated environments. The returns are not maximalist; they are engineered to be survivable.

And for long-term holders, even “small” yield compounds in meaningful ways. A few percent in Bitcoin terms can be massive over a decade.

The One-Line Takeaway

The episode ends where it began: deterministically simple. “If you want to multiply, just use multipli. Don’t think of anything else.” It is a founder’s refrain, but it is also a thesis about where DeFi might be going next, away from hype cycles and towards infrastructure that turns global idle capital into productive capital.

👉If you enjoyed reading the summary, head over to When Shift Happens on YouTube or your favorite podcast platform to access the full convo.

[Eric @CuriousCatEric]

@KevinWSHPod @Shaaran5 @multiplifi Just finished watching the episode and I love @Shaaran5 energy and passion for blockchain and DeFi. His analogy of a million photo scraps stuck to me cos I’m very new to crypto and DeFi!

[Eric @CuriousCatEric]

@NFTMuse_ Wait I’m confused haha

[Eric @CuriousCatEric]

@Enter_Uranus Any live-streaming?

[Eric @CuriousCatEric]

Thought crypto was still a tiny niche. Turns out the “crypto-curious” are growing faster than anyone expected.

Here’s what the numbers say:

1. Global crypto ownership: 562 million people now own crypto worldwide (Triple-A 2024). That’s almost 7% of the entire world population, and up from 420M the year before.

2. Crypto-curious population (people who don’t own yet but plan to): 70% of non-owners say they are “curious” or “open” to owning crypto (Coinbase 2024). In Southeast Asia, it’s even higher. 78% of people say they are crypto-curious.

3. Singapore specifically: 32% of Singaporeans own crypto (highest in Asia). One of the fastest-growing crypto-curious populations in the region.

When this many people start paying attention…

It’s no longer a trend.
It’s a revolution in motion.
What do you think?

[Eric @CuriousCatEric]

@JupiterExchange Love the recap on fresh start!

[Eric @CuriousCatEric]

@moothefarmer Word!