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/

Binance is "listing" every DEX token!!

Took a lot less time than I expected. This is huge.

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This is a brilliant move. Allowing CEX users to buy any DEX tokens directly from the CEX, no withdrawals needed.

Kudos to the team for coming up with this. (I was not involved in it.) 👏

CZ 🔶 BNB

Binance is "listing" every DEX token!!

Took a lot less time than I expected. This is huge.
https://x.com/cz_binance/status/1901926758334501161

summoning /daylight | kylemccollom.com | we are hiring: careers.daylight.xyz

not every，just alpha section. And I swear these tokens must have passed a compliance audit completely or they wouldn't dare go live like this.

My gut is it has to go away from an allowlist towards a blocklist - like Brian's point here: https://x.com/brian_armstrong/status/1883329603239899346

Do you think that's possible for CEXs?

I wonder what the experience is like in Binance today with this launch.

We need to rethink our listing process at @coinbase given there are ~1m tokens a week being created now, and growing. High quality problem to have, but evaluating each one by one is no longer feasible. And regulators need to understand that applying for approval for each one is…

Brian Armstrong

I think its possible.
But ​the primary revenue model for cryptocurrency exchanges hinges on transaction fees. Currently, exchanges face challenges in achieving business growth. This stagnation isn't merely due to the slow pace of token listings limiting user trading options and, consequently, transaction fee growth. More critically, the diminished "wealth effect" associated with new token listings has led to a reduced influx of new users, thereby capping potential transaction fee revenue.​