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drewcoffman
@drewcoffman.eth
prediction: passive yield is gonna be the “ohhh i get it” moment for a lot of ppl re: the onchain internet
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Zach
@zd
What do you think is different this time that didn't exist or wasn't compelling about all the startups did high-yield savings accounts with DeFi over the past five years?
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drewcoffman
@drewcoffman.eth
it’s (still) too hard to get $$$ onchain
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Zach
@zd
By "get money onchain", do you mean "bring net new dollars onchain" or "turn your onchain dollars into more onchain dollars"? IMO, the former is solved by onramps, whereas the latter could be solved with yield, but hasn't in the past If we're talking about the latter (compounding onchain wealth), I'm curious why you think yield will be a compelling value prop this time around when historically it hasn't been?
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Zach
@zd
I hope this doesn't come across as me being difficult - I just remember seeing so many startups die with this as their core value prop Maybe you see something I don't see, and I'd love to be enlightened :)
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drewcoffman
@drewcoffman.eth
i was talking about the former. getting yield isn’t interesting if you have to KYC and put your money in a wallet you’re scared of losing somehow onramps are ALMOST good enough ☻
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pxaxm
@pxaxm
imo the biggest chasm is most consumers just don't want this stuff. advertising high savings with a low risk asset like usdc and easy on ramping and you still can't get people to switch from their trad banking. Long journey to shift familiarity.
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