John Conneely

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John Conneely

John Conneely

@John__Conneely

Global Head of BD @SkyEcosystem | Scaling the world’s largest yield-generating stablecoin: https://t.co/IjiONqk5tf Ex @FalconXGlobal, @GenesisTrading, @Bakkt

United States Katılım Ağustos 2024
140 Takip Edilen223 Takipçiler
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John Conneely
John Conneely@John__Conneely·
I'm excited to be joining @SkyEcosystem to lead business development globally. Five months ago I met @RuneKek and the team. What I found was a group quietly but relentlessly executing on an ambitious vision. The numbers speak for themselves. $14.8B in AUM. ~$10.8B in USDS supply. The 3rd largest stablecoin globally, and home to sUSDS, the largest yield-generating stablecoin. This is the result of a great deal of operational discipline. Since its earliest days as MakerDAO, Sky has optimized for one thing above all: protect people's capital. The last few weeks in DeFi are a reminder of why that matters. What attracts institutional capital isn't the biggest number on a screen. It's the number you can trust is still there tomorrow. Financial services have one product. It's trust…and Sky has been building it longer than anyone in DeFi.
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John Conneely
John Conneely@John__Conneely·
The biggest number on the screen looks great until the week it doesn't. Pointing flow at the Surplus Buffer instead of short term yield optimization is the kind of call that looks obvious in hindsight but typically gets underweighted in real time. Sustainability compounds.
Sky@SkyEcosystem

The Sky Savings Rate has been adjusted to 3.65%. This is Sky Governance making a deliberate, proactive decision to prioritize long-term capital protection and protocol resilience over short-term yield optimization. Why the rate was adjusted. Sky Protocol's Surplus Buffer is the first line of defense for every USDS holder. It absorbs bad debt before it can ever reach the system. It is the reserve that stands between users' capital and any adverse event. The buffer was already healthy. The goal is to make it impressively strong. By redirecting capital toward the Surplus Buffer rather than maximizing the rate, Sky Governance is choosing the kind of institutional-grade robustness that stands strong regardless of market conditions. Sky Protocol is committed to protecting users' funds above all else.

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John Conneely
John Conneely@John__Conneely·
@andyyy Agree. Sometimes friction is a feature, not a bug.
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Andy
Andy@andyyy·
Every conversation I've had this week surrounding the Kelp exploit has led to a few things: > we will get something similar to what Ethena & Agora have on their stablecoin bridges ($10M rate limits) > complete lack of rule era is likely over > we will have more circuit breaker / limits in DeFi that will look more like tradfi > all of this is for the sake of user protection > defi will be better for it Whether the original believers agree with this will probably end up being somewhat irrelevant...and that will cause anger and pushback. Change is coming, for better or worse (depending who you ask)
The Rollup@therollupco

Odysseus says DeFi needs circuit breakers like traditional markets have. "In traditional finance, a hack is a financial event. You have meetings, you fix the ledger." "In crypto, a hack is a physics event. It happened. You can't drop into a meeting and fix it." "Circuit breakers are going to be a vital piece of security infrastructure."

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John Conneely
John Conneely@John__Conneely·
Don't disagree necessarily. I'd just sequence it a bit differently than 'productivity and fast settlement.' In my experience, institutional allocators put safety, risk management etc ahead of both. Sky's thesis is that productivity stacks on top of that trust layer, not instead of it. sUSDS and the Sky Agent Network (Spark, Grove etc) make it productive, and it compounds because the trust base has been built over nearly a decade.
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John Conneely
John Conneely@John__Conneely·
I'm excited to be joining @SkyEcosystem to lead business development globally. Five months ago I met @RuneKek and the team. What I found was a group quietly but relentlessly executing on an ambitious vision. The numbers speak for themselves. $14.8B in AUM. ~$10.8B in USDS supply. The 3rd largest stablecoin globally, and home to sUSDS, the largest yield-generating stablecoin. This is the result of a great deal of operational discipline. Since its earliest days as MakerDAO, Sky has optimized for one thing above all: protect people's capital. The last few weeks in DeFi are a reminder of why that matters. What attracts institutional capital isn't the biggest number on a screen. It's the number you can trust is still there tomorrow. Financial services have one product. It's trust…and Sky has been building it longer than anyone in DeFi.
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John Conneely retweetledi
The Rollup
The Rollup@therollupco·
Happy Tuesday from The Nest. The tension between decentralization and security has never been louder. Arbitrum freezes hacker funds. Crypto allegedly settling geopolitical toll payments. 1:15p EST @odysseas_eth - @phylaxsystems 1:45p EST @RuneKek - @SkyEcosystem 2:30p EST @SecurityGuyPhil - @coinbase See you on the show.
The Rollup@therollupco

🟢 LIVE From The Nest: Arbitrum freezes 30K ETH, Odysseas, Sky Founder & Coinbase CSO Join x.com/i/broadcasts/1…

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Kyle Reidhead | Milk Road
Kyle Reidhead | Milk Road@KyleReidhead·
most people don't realize this but @SkyEcosystem has grown to a $12B stablecoin supply with no BD, just pure PMF the growth has been completely organic pretty wild for an org sitting at close to $2B market cap they've now hired @John__Conneely to drive USDS adoption across crypto and tradfi industry Sky is easily one of the best things to come out of the crypto industry looking forward to watching their continued success
John Conneely@John__Conneely

I'm excited to be joining @SkyEcosystem to lead business development globally. Five months ago I met @RuneKek and the team. What I found was a group quietly but relentlessly executing on an ambitious vision. The numbers speak for themselves. $14.8B in AUM. ~$10.8B in USDS supply. The 3rd largest stablecoin globally, and home to sUSDS, the largest yield-generating stablecoin. This is the result of a great deal of operational discipline. Since its earliest days as MakerDAO, Sky has optimized for one thing above all: protect people's capital. The last few weeks in DeFi are a reminder of why that matters. What attracts institutional capital isn't the biggest number on a screen. It's the number you can trust is still there tomorrow. Financial services have one product. It's trust…and Sky has been building it longer than anyone in DeFi.

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Rune
Rune@RuneKek·
Honored to have a top talent like John on the Sky Frontier Foundation team! Sky’s growth so far has all been without a coordinated BD function at the foundation level - with John on board things will really begin to accelerate 💫
John Conneely@John__Conneely

I'm excited to be joining @SkyEcosystem to lead business development globally. Five months ago I met @RuneKek and the team. What I found was a group quietly but relentlessly executing on an ambitious vision. The numbers speak for themselves. $14.8B in AUM. ~$10.8B in USDS supply. The 3rd largest stablecoin globally, and home to sUSDS, the largest yield-generating stablecoin. This is the result of a great deal of operational discipline. Since its earliest days as MakerDAO, Sky has optimized for one thing above all: protect people's capital. The last few weeks in DeFi are a reminder of why that matters. What attracts institutional capital isn't the biggest number on a screen. It's the number you can trust is still there tomorrow. Financial services have one product. It's trust…and Sky has been building it longer than anyone in DeFi.

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Rune
Rune@RuneKek·
Laniakea is a project in Sky to bring all structures of governance and collateral exposure into standardized formats, with strict standardization and best practice optimization across 4 critical dimensions: Smart contracts, risk management, data infrastructure and legal recourse. With Laniakea in place Sky itself will enjoy even greater levels of security, stability and reliability (on top of the protocols current 6 year track record of no security incidents) External protocols and projects will also be able to use the Laniakea building blocks to develop financial products and businesses through Sky Agents that inherits the best in class smart contracts, risk management, data infrastructure and legal structures - protecting their users and boosting their business case. github.com/sky-ecosystem/…
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Rune
Rune@RuneKek·
DAI is safe - it shares collateral 1:1 with USDS and the collateral does not have exposure to rsETH directly or indirectly
0xShiny@0xShinyz

@SkyEcosystem And $DAI ? Still safe aswell?

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Avalanche🔺
Avalanche🔺@avax·
The next step in stablecoin technology. Welcome USDS to Avalanche: a stablecoin with native issuance and purpose-built cross-chain rails. Live with: → Native USDS and sUSDS, no wrappers → Burn-and-mint transfers, no idle bridge liquidity → Parameters set by Sky governance Possible due to Skylink, @SkyEcosystem's bridge, developed by @grovedotfinance, a long-term Avalanche partner helping expand institutional-grade stablecoin rails onchain. For builders, it simplifies how stablecoin liquidity moves. For the ecosystem, it brings another major set of assets onchain with fewer tradeoffs.
Sky@SkyEcosystem

USDS and sUSDS are now natively available on Avalanche. @grovedotfinance has just pioneered direct transfers from @ethereum Mainnet to @avax via Skylink, Sky Ecosystem's crosschain bridge infrastructure. Here is how the rollout is structured ↓

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Sky
Sky@SkyEcosystem·
USDS and sUSDS are now natively available on Avalanche. @grovedotfinance has just pioneered direct transfers from @ethereum Mainnet to @avax via Skylink, Sky Ecosystem's crosschain bridge infrastructure. Here is how the rollout is structured ↓
Sky tweet media
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Jacquelyn Melinek
Jacquelyn Melinek@jacqmelinek·
The latest @_TalkingTokens is with @RuneKek, founder of @SkyEcosystem We discuss Sky's evolution from its MakerDAO days and has become one of the only major crypto teams generating hundreds of millions in revenue and profit. We also dive into Sky's USDS growth, deploying $1B into tokenized CLOs and how he sees AI agents driving more financial adoption. TIMESTAMPS 00:00 – Intro 02:08 – Why Sky evolved from MakerDAO: rethinking DeFi for real-world scale 04:00 – Sky as infrastructure for global capital markets and capital formation 05:34 – How Sky Savings Rate works with 3.75% yield 07:06 – Sky Agent Network: decentralized businesses competing for best risk-adjusted returns 08:16 – Why Sky is different from Ethena and other yield-bearing stablecoins 11:49 – Spark protocol reaching $3 billion TVL as it grows in the lending market 14:03 – How real cash-flowing assets are coming onchain for the first time 18:32 – Why institutions like BlackRock and Janus Henderson work with Sky 27:18 – Sky’s Grove deploying $1 billion into first tokenized CLO by Janus Henderson and Centrifuge 30:10 – When DeFi and TradFi merge: stablecoins can act as super capital 34:13 – AI agents driving blockchain-native financial automation 37:35 – Sky's revenue: $338M annualized with $158M net profit during market volatility 39:05 – Growing stablecoin supply as the main opportunity ahead 50:18 – Rune's endgame: fully automating Sky through AI to finally step away Watch below or on X:
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Grove Finance
Grove Finance@grovedotfinance·
Grove has crossed $3 billion TVL today 🌳 Credit where credit is due.
Grove Finance tweet media
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Keşfet

@andyyy @SkyEcosystem @RuneKek @odysseas_eth @phylaxsystems @SecurityGuyPhil @coinbase @timzz_sleep