Jonny Reid
6.5K posts

Jonny Reid
@OneCryptoJ
Full time DEFI enthusiast - Huge supporter of https://t.co/FuVNY7Q3w8 (RWA / On chain credit) @paretocredit

I'm no expert, but vaults don't seem like a good idea. I'm sure some are safe, but the composability and inevitable permutations seems like a faustian bargain where the margins constantly get exploited


BlackRock, Franklin Templeton and J.P. Morgan now sit onchain with tokenized fund AUM of $2.58B, $2.46B and $917M. Via @rwa_xyz & @tokenterminal

Credit that compounds is good, but credit you can use is better. Your position in the FALX Structured Credit Facility earns from @FalconXGlobal's prime brokerage credit while staying usable across the onchain universe. See the process in practice ↓


David Hoffman on why vaults are structurally pushed to grow into more risk "I would imagine that as a vault, if I was in the vault business, there is an inherent tendency to grow. I want my business to grow, I want to create more vaults, I want to get more yield" "Anyone who comes to the table saying I'm going to zig when everyone else zags, I'm going to constrain my exposure, I'm going to only accept so much yield, I don't think that is a stable equilibrium for a vault business, because you need to grow" "I get scared dude, I'm the money Legos guy, and this is not what I had in mind" "We have money Legos now, everything is the money Legos that I wanted. This is not the money Legos I wanted"












The FALX Structured Credit Facility is live with @FalconXGlobal. Enjoy exposure to prime brokerage lending. Scaling toward ~$1B in capacity, in partnership with @M11Credit and @ParetoCredit. Learn how Open Finance is taking flight → nest.credit/vaults/nest-fa…



The FALX Structured Credit Facility is live with @FalconXGlobal. Enjoy exposure to prime brokerage lending. Scaling toward ~$1B in capacity, in partnership with @M11Credit and @ParetoCredit. Learn how Open Finance is taking flight → nest.credit/vaults/nest-fa…



