michiel 🦊

stablecoins @metamask | product strategy | ex-jpm ex-bernstein

[michiel 🦊 @techfinnermich]

@sytaylor Not to mention Cagney also built @Figure that has about $18.5B in tokenized HELOC loans on its own Provenance blockchain.

[michiel 🦊 @techfinnermich]

@adcv_ @StaniKulechov It's also so NOT the same thing as a government bailout where central banks can print infinite money in response.

[michiel 🦊 @techfinnermich]

The yield debate also fails to mention there isn’t yet efficient price (yield) discovery between tradfi and defi.

It’s still a:

- infra issue: nascent rwa protocols

- actor issue: sanctioned capital cant access Western markets

- regs issue: not investable by institutions

[adcv_ @adcv_]

https://t.co/8ayWVPa2Pz

[michiel 🦊 @techfinnermich]

@dunleavy89 Great analysis Tom. After the EL, which was really thoughtful, where did all the other premia suddenly come from? We went from the risk of loss based on current rates demands 1.5% to an additional 4.5% from oracle, admin, etc. which i thought were already captured.

[michiel 🦊 @techfinnermich]

@oost_marcel @Revolut Surely this is a dig at @LloydsBank

[michiel 🦊 @techfinnermich]

The robot treasury management experiment begins..

[Tom Osman 🐦‍⬛ @tomosman]

Agents are accumulating capital and doing nothing with it.

We're building Robot Money alongside @LexSokolin and Generative Ventures to fix that.

Autonomous treasury management for the machine economy.

Thrilled to be building this!

https://t.co/WOoKbJm2bb

[michiel 🦊 @techfinnermich]

@TheStalwart Like thinking of a new colour.

[michiel 🦊 @techfinnermich]

@StaniKulechov I love Aave but this is such a random comparison - unsecured BNPL loans vs. overcollateralised DeFi

[michiel 🦊 @techfinnermich]

@TheDeFinvestor If my grandma had wheels she’d be a bike

[michiel 🦊 @techfinnermich]

@inno_ox @solana @phantom @solflare @jup_mobile Where's the underlying data?

[michiel 🦊 @techfinnermich]

@efipm and it's working! Ramp is a hell of a company.

[michiel 🦊 @techfinnermich]

@xkonjin High value post fr

Wonder how segments compare to trad neobanks eg Chime, Revolut, Cash App.

[michiel 🦊 @techfinnermich]

@OG_RogerTennis 100%

[michiel 🦊 @techfinnermich]

@TheDeFinvestor @ethena @ResolvLabs @aegis_im @USDai_Official @OpenEden_X @capapp @almanak @noon_capital We also need a standardised way of scoring risk based on that transparency.

[michiel 🦊 @techfinnermich]

@LexSokolin @bpmilne Etherfi, Avalanche, and Kolo use Rain but are counted separately in the chart. The Rain data includes the remaining other programs.

[michiel 🦊 @techfinnermich]

Reminder that DeFi TVL is skewed towards higher risk profiles

Blue-chip DeFi yields 5% p.a. on stablecoins and compares it to TradFi money market funds of 3-4%.

But Balancer hack is a reminder that smart contract risk is very real even on the most seemingly robust dapps.

[michiel 🦊 @techfinnermich]

We are live with ZERO fees on swaps into mUSD 🫡

[MetaMask 🦊 @MetaMask]

Starting now: swap ANY token into $mUSD with no MetaMask fee. 🤯

🦊

[michiel 🦊 @techfinnermich]

@mert not only has it made it worse -- but everything is written the same annoying way.

[michiel 🦊 @techfinnermich]

what stage of the cycle is this?

[Hyperliquid @HyperliquidX]

By community request, Hyperliquid has listed MEGA-USD hyperps. You can now long or short the unlaunched MegaETH token with up to 3x leverage.

[michiel 🦊 @techfinnermich]

@krakenfx @cz_binance who cares about USD? 😀