Currently, DeFi markets are not venture scale
Everyone is fighting over the same 100 users, there are no new users coming in.
The institutional focus was wrong. The result is vault curators getting paid by foundations & protocols to recycle their balance sheets within isolated markets to the highest bidder. GG to the vaults, L to the blockchain.
The more the balance tips to institutions instead of retail, the more DeFi looses its ability to function. If institutions hold all the leverage, they'll just eventually insert their own "blockchain" underneath with the same reg capture set of rules (see L2s).
Institutions only organically want to use your blockchain if there is sufficient retail flow to benefit from.
Put differently, if there is sufficient retail flow on a blockchain, you don't need to spend any time with institutions at all, they'll come on their own.
The only thing that matters for DeFi to grow is capturing new retail audience. That is simply not happening right now.
@dadiomov@DanteReminick what’s the real use case for micropayments? I’d imagine batching works quite well for most things like API calls
and one-time 1c authorisations can’t be the exciting part about all of this, right?
@0xkkonrad@heisenburgirrs@dadiomov is there really a lucrative opportunity in single occasional micropayments? even with billions of those, the volume is not large enough and the margin is even smaller
@shiri_shh Figma was overvalued at IPO, but the whole AI to kill Figma is laughable. It’s much more of a threat to Canva.
Market underestimates what product Figma offers and who pays for it. Enterprise teams will use it more extensively, ship faster, more complex products.
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@defyneric fintechs - sure. most crypto neobanks have no differentiator/serve tiny audience
tradfi no way
they are struggling competing with Revolut etc in web2
there is no way tradfi will offer a great experience for crypto users