dethklok.eth

[Ryne Saxe @rynesaxe]

Believe it or not, we had this feature in the Eco App in 2021. @JHCA1 pounded the table for it. I share this not as some sort of flex, but to emphasize a critical point:

People will only use your stablecoin product as their primary account if they can easily pay their major expenses out of it.

This is true for @tryramp serving businesses, and was true for us serving consumers at that time.

If you're building a stablecoin neobank — at least if you're building one in a highly competitive fintech market — the most powerful thing you could do is earn a large share of your users' payroll direct deposits. And to do that, you need to offer seamless payout features for their major spend categories. There's at least one category that accounts for a large portion of most people's income, where people still often pay by check: rent. So we built this feature and piloted it for 100 early users.

There's really nothing fancy to it, just good payment ops in the background. But it needs to be ultra reliable. If someone is paying for something by check, it usually means that thing is very important.

Again, don't read this as some sort of "we had this!" flex. We wound our original product down after all (although maybe we should have patented the flow 😅). But I thought the insight was relevant to share, and hopefully helpful to the stablecoin builders who read it.

Posted by a happy @tryramp customer for 5+ years running 💳 🫶

[Eco @eco]

.@Solana is the fastest chain in the Stablecoin Economy. And with Eco, getting there is just as fast & seamless.

Eco is live on Solana, connecting its $15B+ stablecoin ecosystem to the broader multichain economy, with the speed it demands and deserves. https://t.co/iWhkmz5Nej

[Jumper @jumperapp]

Our stablecoin ecosystem coverage just got stronger.

@eco, the unified liquidity layer for stablecoins, is now live on Jumper.

Use Jumper to swap via Eco 💜

[Justine Moore @venturetwins]

Turns out this creator has an X account!

Follow along at @aiamajedi - and check out the YouTube account for other viral hits like "Revenge of the Bomboclat"

[dethklok.eth @chez_qa]

Bye pop-up parade. Hello one-signature cross-chain. 🚦➡️🟢

[dethklok.eth @chez_qa]

https://t.co/lVE8J4daH2
I had to explain to one of my non-crypto savvy, parent-friends what Permit3 was, and why this was such a big deal for @eco, so I took a quick stab at it:

🧵 ↓

[peteris erins @p_e]

There's a new Permit standard in town introduced by @eco, which could have big implications for cross-chain asset management.

Here's the full journey from permit() → Permit2 → Permit3.

↓

[dethklok.eth @chez_qa]

🕳️ Hole-punch to prevent reuse → A unique counter so a tab can’t be used twice
🧑‍🏫 Intro w/ each coordinator→ One-time setup on each chain so Ms. P3 is recognized there

[Ryne Saxe @rynesaxe]

Calling Eco a "bridge" is kinda like calling Hyperliquid just a blockchain.

I recoil a bit whenever I hear this. Yes, we build our own infra, to control our own execution. But everything to the same end: a liquidity platform for the entire stablecoin economy. trees/forest

[Ryne Saxe @rynesaxe]

fun @eco lore:

When we launched the original Eco App (RIP) in 2020, the ability to earn 6-8% APY was readily available across crypto lending products, both onchain and offchain through prime lending platforms (where there was a broad spectrum of legitimacy and actual expertise). This was in a zero rate environment in the broader economy.

So at the time, the 10x feature was being able to offer any nonzero interest rate at all. For a mainstream consumer product, it didn't necessarily need to be as risk-free as treasuries — people understood they'd have to assume a little risk to reach for yield — but it definitely needed to be transparent and safe enough.

We vetted and tested yield strategies and offerings for months, onboarding and interviewing users who wanted to know where any positive yield was coming from when banks paid nothing.

We launched the app in beta testing 6,7,8% APY offerings. They were safe rates; we had policies, monitoring and market information to continually vet them. But people wouldn't sign up.

So one week we said "screw it, change the game." We dropped the yield offering to 2.5% - 5%. The product didn't change at all behind the scenes; just the offer. A user could earn up to 5% in half-point increments by referring up to five new users who converted.

And guess what? The conversion issues went away; conversion rates went up at least 3x — after we sliced the yield offering in half.

Nonzero yield may not be the 10x feature it was five years ago, but there's still a real insight in this.

--

To my knowledge the original Eco App was the first true stablecoin neobank, with a full bank replacement feature set seamlessly moving dollars between banks and USDC — for spending, saving, bill pay, and more. Many of our users switched direct deposit into Eco, and made it their primary account. We talked to thousands of people about their money, and about crypto. There's no replacement for doing that.

That experience remains invaluable today. We've gone back to the protocol/infra layer at Eco, but those learnings directly inform the way we build our technology to help power the current wave of stablecoin products. I think probably nobody nerds out on stablecoin flows and UX as much as we do (and have).

If you're building a stablecoin consumer app, or if you're an ecosystem (such as a stablecoin issuer or chain) trying to support those builders, @eco infra can help power it.

[Eco @eco]

PSA: Eco now supports Plasma!

The @PlasmaFDN mission is close to home for us, and we want Eco to be the easiest way to access Plasma’s ecosystem with your stables.

[Georgios Konstantopoulos @gakonst]

Also see this recording on desktop from @Eco!

[Eco @eco]

Grok Imagine: stabl eco in