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https://warpcast.com/~/channel/brypto
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androidsixteen pfp
androidsixteen
@androidsixteen.eth
Stables by themselves are kinda boring — that’s the point! But it paves the way for more wallet installs. Initially biz settlement, then consumer embedded wallets (and then closer to self-custody đŸ€ž) This will unlock a new wave of consumer crypto products using stables — we’ll just call them “apps” and “dollars”, respectively
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
Bear case: Stable coin payment adoption will plateau. C2B in US is all on credit. You can’t switch the buy now pay later user habit (Stfu i don’t care about your crypto principles, im an empiricist) B2B stables represent holding cost and won’t gain adoption until we have yield bearing stables (regulatory issues) Bull case: There is a lot of US debt due this year that needs to be refinanced and so we need to increase demand for T-bills
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@w
yield bearing stables already here, just not even distributed
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
The only reason they can do that is because they’ve KYC’d users. Our Mercury account gives us a 5% APY, and the morgan stanley is even higher
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@w
not true -- https://splits.notion.site/Earn-yield-on-your-assets-18bf7c3c8eff801d8a62e4829695ec2a one of crypto's great boons is the composability of yield in the system mercury is 3.7% rn (we have some $ there)
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
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@w
what is this from?
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@w
this is what mercury looks like atm
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
It’s a screenshot from the Mercury account for /opacity
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@w
from what product? obviously not Treasury which I just showed you above
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
It’s treasury, I can’t show that part without showing how much we have. Our COO @fieldy was an investment banker for 8 years 😉
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@w
https://warpcast.com/w/0x1c2d56d1 your number doesn't take fees into account, the below numbers are net of fees i worked at blackstone fwiw
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EulerLagrangodamus - tevm/acc pfp
EulerLagrangodamus - tevm/acc
@eulerlagrange.eth
Our fee is 0.35%
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@w
btw tell your boy @fieldy to check out meow if you have enough money offchain we pay 0.12%
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fieldy.eth pfp
fieldy.eth
@fieldy
I think the difference is the fee and possibly 7 days vs 30 days. They are giving you a shit fee. I’d call them and complain and see if they’ll bump it down.
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their fee schedule scales down with size -- so ours went up when we xfr'd ~all of our funds to meow for higher yield if i'm being honest i don't trust the 5% number at all given where fed rates are and the other page. I don't think fee explains it either, or at least not entirely. Not sure what could cause it to be so much higher than the gross fed funds rate.. if i take the absolute $ numbers they give me and run the rate myself, i get 3.1% đŸ«  anyways, we keep the bulk of our money directly in rolling tbills with meow. Will bring it onchain over time as we feel comfortable with higher yield oppts (e.g. morpho)
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