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androidsixteen
@androidsixteen.eth
Crypto is the best gambling rails ever created If you don’t think this will be extended to “normal” finance and economic use cases, then I suggest you zoom out to a longer time horizon It won’t be quick, but it will be much bigger
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ted (not lasso)
@ted
it's already happening with stablecoins, tokenized assets, and large institutions with Onyx. anyone who is fading blockchain rails for finance is out of touch.
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androidsixteen
@androidsixteen.eth
Creating facsimiles of existing assets is just the beginning But 100% agree
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ted (not lasso)
@ted
yes, we're in agreement. interesting to consider that (imo) the only new finance product that has found successful PMF is ETFs (SPACs failed, mutual funds lame, etc). will be interesting to see if blockchain's enhanced liquidity and reduced operational overhead will change this for finance.
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EulerLagrange.eth
@eulerlagrange.eth
One of the reasons I wanted to setup an EigenBank is to make legacy legal systems software defined. Stables proved this out because they’re centralized. The main benefit you get from using stables is it reduces complexity as everything is in software. One of my goals is to create an asset that’s tied to income. So I can sell 5% of my income for the next year to get cash today. Then the bank will divert that amount from the direct deposit to whoever holds the asset. Sreeram wants to use this to fund education in the US vs debt (a bit pie in the sky)
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Jonny Mack
@nonlinear.eth
what happens if you quite or get fired?
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EulerLagrange.eth
@eulerlagrange.eth
The market would price it in. I could max out all my CCs and just leave the country. The credit card company just wouldn’t give me a credit line big enough where it made sense. You could also pause the contract until you get another job. You could also prove you have recurring expenses like rent or a mortgage that’ll push people to keep a job.
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EulerLagrange.eth
@eulerlagrange.eth
Collateralized works well worst case scenario as well. If you’re hodling ETH long term, then you can stake for access to these new financial services.
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