Garrett
@garrett
Feels like there will be native transactions on Warpcast with an embedded wallet very soon $HIGHER
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Kieran Daniels 🎩
@kdaniels.eth
Ya the only answer I have to combat the need for $5/$3/any$ signup cost is the eventually provide passive yield on deposited assets. You could do this via a native yield bearing stable coin or just dump the deposits into aave product or similar. The social layer and in feed txs are here, now tell Gary to suck it and turn Warpcast into a yield product with integrations to base apps in feed. @dwr.eth I’ve already built this and can provide some good insight if you ever go this direction 👀 https://youtu.be/xVq3j6bSeKs
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Garrett
@garrett
Wow yeah this would be awesome! Imagine that a user deposited $20-$100 to sign up to warpcast and part of it went into a yield vault that could generate enough yield to pay for its yearly storage costs
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Kieran Daniels 🎩
@kdaniels.eth
They can do this right now out of box. I’m assuming they have also had this idea and it’s prob been a regulatory concern issue.
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Garrett
@garrett
Any thoughts on this @dwr.eth ?
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Dan Romero
@dwr.eth
Interesting idea. I'm skeptical that many new people would be willing to do this, though.
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Kieran Daniels 🎩
@kdaniels.eth
What we did with our iOS app Stream was we just forced it. It’s a little different because Streams was basically like an Acorns iOS front end with yearn on the backend. So the users normally deposited “buying power” which automatically went into aave low risk earn pool. So all money they deposited was not losing 10% to inflation and was earning a small amount. Then they could use that to deposit into riskier options. With Warpcast (it might need some thinking to massage the idea out) you could just make the “cost” to signup = minimum $5 deposit (but you can deposit as much as you want) and then the first x amount of yield covers your onboarding costs and after that you start earning .5% or whatever the rate is. The expansion vertical here is integrating all the apps into frames and in feed. Then people have “buying power” they are earning money on and they can then use other apps = Warpcast can siphon $ from swap fees or wherever as revenue.
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Garrett
@garrett
Fair concern. I think it would probably have to be pushed as a Savings/Yield product and the yield would need to be attractive, like something marginally above the risk free rate or slightly better than a high yield saving account (~5%) Basically, a better risk-managed, transparent and onchain version of BlockFi/Celsius
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