Bringing your business onchain just got easier with Base 🟦
B20 is the new token standard on Base built for real-world assets, equity, stablecoins and all other types of coins
It gives founders a unified framework to put their business onchain
Let's see how 🧵
morpho paid $150m in tokens to robinhood and burns $115m/year in incentives to subsidize a 7% APY that costs more than the protocol earns on lending. $50m TVL in 3 days sounds great until you do the math. that's $3 spent per $1 of TVL acquired. gross fees are $19m/month but net margins are near zero. lazy summer vault got hit for 6m DAI via flash loans 3 days before launch. the entire thesis depends on sticky TVL surviving the moment MORPHO rewards get turned off. this is the most expensive customer acquisition bet in DeFi history and it either becomes the stripe of onchain credit or the most elegant way to transfer VC capital to fintech users