so the start-up proverb goes that to get over the friction of switching costs, a new product has to be 10x better than an incumbent product. 2x is not enough. 

so what is 10x in crypto?

running experiments; writing https://kori.ooo

Frankly, if we're talking about right now, DeFi is the only use-case with genuine stickiness, and it links to the profit point made earlier. 

but FinTech and TradFi exists, and frankly when it comes to user experience I would not call it a 10x improvement

this isn't necessarily the case for developing countries. and yes, decentralisation is a paradigm shift, but that is a back-end paradigm shift, and I don't think users care so much about that right now

privacy protocols offer something but only to those already embedded in the ecosystem

I think the conclusion here is a 10x benefit switching from tradfi to crypto requires the full effort of the whole ecosystem and a lot of time. 

so while it might be tricky to build 10x crypto products compared to non-crypto, in the meantime, crypto products can be built that are 10x better than other crypto products

so far...profits. to the retail investor, they found they could make 10x gains through speculative crypto plays compared to tradfi trades. 

this likely isn't sustainable and drives ponzinomics. so what else is there in crypto that is 10x?