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blockboy
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onchain neobanks are not endgame, history is rhyming...
standalone apps (SoFi/Chime, Reddotpay/Lemon) create a boom of copy cats that bleed due to high user acquisition costs (ads, yields). The infra (Stripe/Klarna, Privy/Rain/Bridge) powering the wave gets to capture value at no cost of distribution. The endgame is infra. Always was, always will be.
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blockboy がリツイート
blockboy がリツイート

chains used to compete on speed, cost, and distribution but now its just assets.
speed / cost have become a commodity and everyone wants distro with crypto abstracted (to pull in next gen of retail) so all that matters is assets being offered. i.e. neobanks want equities (?), majors (base), currencies (base), and comoddities (ethereum) while trading apps want perps (hyperliquid), predictions (polymarket), and memecoins (solana).
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