We don't need new apps to bring 10M new users onchain. There's a parallel path that no one is talking about:

10% of the 100M monthly CEX traders will trade onchain as CEXs suddenly "list" every DEX-based token.

Only possible now due to web wallets. https://www.kylemccollom.com/10m-new-onchain-users-with-no-new-apps/

I was at dinner with some crypto people in Denver and they heavily disagreed with this take.

Surprised it's still controversial!

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Isn’t that just a step back? The point of all of this is going decentralized…

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Yep, it’s buying from the on-ramp and sending to a smart wallet, right?

I think it’s great that people have access to more tokens, but it also makes it more complex for them to access their funds, unless the goal is to gradually move them 100% onchain by ‘forcing’ them to use a smart wallet.

Still, this feels like a more complex UX compared to simply buying with a credit card on a wallet and jumping straight into onchain DEXs. They’ll have to deal with the smart wallet and network UX anyway. 

Makes sense?