dan levine (🪶,🪶)

@Padday @intercom What size is your engineering team?

How we build software @intercom is unrecognisable vs 12 months ago. We're fully Claude Code pilled and seeing enormous productivity gains. Excellent thread here from Brian on some things we're doing.

The @SECGov guidance is going to change crypto. One key area: it will kill discretionary foundation awards and mercenary capital for seeding protocol TVL. "A functional crypto system does not have a central party that oversees participation or distributes rewards to users." Tokenomics value must come from "the programmatic operation of a functional crypto system ... rather than from the expectation of profits from the essential managerial efforts of others." Build automated, transparent, fully programmatic onchain incentives or beware. Net effect of this will be DeFi protocols will compete on product-market fit and not on the size of their treasury.

@Langerius 🫡

@danlevine gm

Gplume

The SEC Crypto Task Force met with Plume. Their feedback, according to Salman: "Your strategy is really the tip of the spear in trying to make tokenization and real world assets come onchain, but doing it in a way that's consistent with US securities regulation." Tip of the spear. From the SEC's own crypto team. That endorsement didn't come from avoiding regulation. It came from building within it.

@DCinvestor Is that yuan oil thing happening or just a floated idea? Big deal if so but I hadn’t heard tha yet

case study on why we need allies: China - still getting oil and now it’s being settled in Chinese yuan at Iranian request, doesn’t care, wants to watch Trump flail and burn through US war resources France - says GFY Japan - we just pulled a MAGTF out of Japan for this and they have over 200 days of oil reserves Korea - we just pulled THAAD system out after they took an economic hit in the the tens of billions from China to allow them in the first place UK - said they would send ships a few days ago to help reopen the strait, but Trump abrasively said he didn’t need them and that we’d already won the war 4D chEsS they say

Most of the conversation around RWA looping revolves around the benefits for the looper, but it misses the fact that RWA looping is good for lenders too. Native onchain APYs (without incentives) are barely beating Tbills because they are mostly lending to crypto-native collateral. All crypto-native collateral is directly or indirectly related to crypto market activity, which is down. Done correctly, RWA collateral is uncorrelated to crypto activity and loopers are willing to pay a premium above current rates. The many RWA credit risks that people (correctly) point out will eventually be solved when there are dozens or hundreds of assets for looping. One RWA seeing a drawdown matters a lot less when vaults are spread out over 100 different collateral markets.

this is actually insane > be tech guy in australia > adopt cancer riddled rescue dog, months to live > not_going_to_give_you_up.mp4 > pay $3,000 to sequence her tumor DNA > feed it to ChatGPT and AlphaFold > zero background in biology > identify mutated proteins, match them to drug targets > design a custom mRNA cancer vaccine from scratch > genomics professor is “gobsmacked” that some puppy lover did this on his own > need ethics approval to administer it > red tape takes longer than designing the vaccine > 3 months, finally approved > drive 10 hours to get rosie her first injection > tumor halves > coat gets glossy again > dog is alive and happy > professor: “if we can do this for a dog, why aren’t we rolling this out to humans?” one man with a chatbot, and $3,000 just outperformed the entire pharmaceutical discovery pipeline. we are going to cure so many diseases. I dont think people realize how good things are going to get

Step into the Age of Empowerment

This will be a turning point in democratizing traditionally closed end funds onchain to the broader masses. Im very excited of the ramifications of the model we are building out for RWA access and what it means to real users.

With all the private credit / insto doomer posts going around ct right now, it's worth remembering We are incredibly blessed that the largest asset managers in the world like BlackRock, Apollo, Fidelity, Wisdomtree, etc are coming into crypto with such open arms and open minds Nobody foresaw not only how aggressively the TradFi folks would come into crypto but also how excited they would be to experiment & implement new ideas, new products, and work with the crypto natives on building the future The work they are doing is incredible validation of what we are doing and brings immense credibility to our industry. And they didn't have to do it this way -- they could have just as easily ignored us and been adversarial But instead we have trillion dollar asset managers working with everyone from established protocols to new 5 person teams on novel ideas, new assets, new protocols up and down the stack from bringing assets, seeding liquidity, creating new products, investing in protocols, engaging with regulators, etc The train is well on its way now and the bell cannot be unrung. But shout out and grateful for the leaders within the large institutions that have been championing what we're doing and putting their careers on the line to help bring our vision to life We've always said what we love about this market is that it's one of the few pure positive sum industries left where if we do this right nobody has to lose and we can all win. Me and @teddyP_xyz believed that when we started @plumenetwork and it's more true than ever now The future is bright anon. Markets go up, markets go down, but the change we are working on is permanent and we are only seeing the tip of the iceberg for what can be done here Much love fam

Slow and steady. Boring. Pretty much how RWA yield should look. Consistent 8%-12% yield since launch 9 months ago from nAlpha vault on @NestCredit app.nest.credit/vaults/nest-al…

Plume❤️Korea

@mrwhiteocean @NestCredit @perena check this DEEP write up of the BlackOpal asset

/ @NestCredit announcement about launching on Solana through @perena caught my attention for one specific reason: the yield source the nPERENA vault isn’t just another DeFi strategy. Part of the exposure comes from credit card receivables and short duration financing markets via strategies like BlackOpal’s LiquidStone that means the cash flow comes from businesses and payment networks, not from crypto liquidity pools.

@marilyn100x You can invest right now onchain in @NestCredit’s BlackOpal vault — currently a very steady 13% APY return. Morpho market launching soon for looping. Available on Plume, Ethereum, and Solana networks. app.nest.credit/vaults/nest-op…

13-14% yield in USD from Brazilian credit card receivables, a $100B asset class. How it works: 1. A Brazilian merchant sells R$620 of clothing, customer pays in 6 installments. 2. Merchant needs cash today, not in 6 months. 3. Black Opal buys that future payment stream upfront and merchant gets cash now. 4. Black Opal collects from the bank as each installment settles through Visa/Mastercard rails. If the customer defaults on their credit card? That's the issuing bank's problem and by the time it reaches this structure, it's an obligation of a regulated Brazilian financial institution, not a consumer. Yield Math: Brazil's benchmark rate at 15% > receivables price at 28-32% in BRL > hedge the FX > 13-14% net in USD. Window is open because Brazilian rates are at a 20-year high. When Fed Funds Rate(brazilian) falls, yields drops. It has zero defaults to date. Amazing read👇

Fantastic in-depth write-up of the @blackopal_fi asset from the Head of Eco @ethereumfndn. TLDR: the nuances of the Credit Card market in Brazil make for a great yield opportunity. Currently a very steady 13% APY vault return. Morpho market launching soon for looping. You can invest in a BlackOpal vault onchain here, available on Plume, Ethereum, and Solanan app.nest.credit/vaults/nest-op…

@potuz_eth @Snapcrackle The receivables are all short duration which limits the FX exposure for any individual loan. You can invest in a BlackOpal vault onchain here, available on Eth mainnet (as well as Plume): app.nest.credit/vaults/nest-op…

@Snapcrackle I understand. but even above Selic I am surprised of those long term numbers in dollars. I now want to contact these guys and buy shares of those funds 😂

@Ameba_NM Then long the sweep if we’re bullish

$BTC Maybe....