Unchained

Latest Episodes:

Bits + Bips: Why Hasn't This Macro Cycle Boosted the Crypto Markets? - Ep. 702 Sep 11, 2024

Show notes

As crypto markets continue to struggle, experts weigh in on whether the capitulation phase is finally over and what lies ahead. In this episode, hosts James Seyffart and Joe McCann, along with guest Noelle Acheson, delve into the recent market downturn, the potential for a recession in 2025, and why Bitcoin's divergence from gold is puzzling analysts. They also explore the impacts of upcoming rate cuts, the lingering effects of fiscal dominance, and whether Ethereum ETFs are living up to the hype.

Show highlights:

Why crypto has been down so bad recently despite the macro cycle
The three factors weighing on the bitcoin price for the moment, according to Noelle
The chances of a recession in the U.S. in 2025 and how much the Fed might cut rates
Why the current rate-cutting cycle is unusual, with markets expecting far more cuts than usual, and how a potential spike in inflation could complicate the Fed's response
Why the K-shaped economy endures, driven by the U.S. government's reliance on capital gains taxes
Why fiscal dominance is a growing concern and why bitcoin's recent divergence from gold is puzzling, as they typically move together during crises
Whether retail has been a buyer of the spot Bitcoin ETFs or it’s just onchain traders who are now buying them
Why James says the Ethereum ETFs “have been an absolute flop"

Sponsors:

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence
Joe McCann, Founder, CEO, and CIO of Asymmetric

Guest:

Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter

Timestamps:

00:00 Introduction
03:35 Why crypto is struggling recently
09:16 Three key factors weighing on Bitcoin's price
15:12 Chances of a 2025 U.S. recession and potential Fed rate cuts
25:55 Unusual rate-cutting cycle and inflation risks
32:06 Enduring K-shaped economy and capital gains tax impact
34:37 Concerns about fiscal dominance and Bitcoin’s divergence from gold
54:57 Retail vs. onchain traders in spot Bitcoin ETFs
1:01:43 Whether Ethereum ETFs have been a "flop"

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ETH Is Down Bad, While Layer 2s Are Ripping. Are L2s Parasitic to Ethereum? - Ep. 701 Sep 10, 2024

Show notes

Ethereum's Layer 2 solutions are booming, but are they inadvertently holding back the value of ETH itself?

In this episode, Justin Bons and Ryan Berckmans engage in a heated debate over whether L2s are enhancing Ethereum's ecosystem or siphoning off its potential. They discuss the impact of L2s on decentralization, network effects, and whether Ethereum L1 can scale on its own or if the base layer and the rollups now have different incentives. Has Ethereum scaled appropriately for future usage, or was scaling via L2s the wrong roadmap for Ethereum?

Show highlights:

02:43 How Ethereum's rollup-centric roadmap consists of a decentralized Layer 1 (L1) for security with Layer 2 (L2) providing more transaction throughput
04:53 Why Justin is so critical about how L2s centralize Ethereum
14:53 Why, according to Ryan, Layer 2 solutions aren't parasitic to Ethereum but instead enhance its network effects, decentralization, and long-term value
25:35 Why Justin criticizes Ryan’s reliance on "trust me, bro" arguments, questioning the tribalism and authority in claiming the superiority of Ethereum researchers over those from other blockchains
28:15 How Justin thinks the Ethereum L1 could scale and what the tradeoffs are
39:58 Justin’s argument that Ethereum is stuck in the past and his claim that the blockchain trilemma doesn't exist anymore
46:30 Ryan’s take on Ethereum's L1 scaling focuses on solving bandwidth limitations and addressing whether L2s are going to fully decentralize
51:01 Whether SNARKS is the way that Ethereum scales the L1
59:24 Whether L2s will start accepting other tokens to pay for gas
1:05:23 Why Ryan predicts Ethereum's L2 adoption will surge, driving up L1 fees and boosting Ether's value as the leading digital money
1:05:39 Whether based rollups are a good solution for Ethereum to scale without losing all the fees
1:13:21 Why L2s would even try to decentralize and why Justin says that Solana has a better roadmap than Ethereum
1:17:54 Concluding thoughts from Ryan and Justin

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guests:

Justin Bons, Founder & CIO of Cyber Capital
Previous appearances on Unchained:
Is Bitcoin Doomed to Fail? Eric Wall and Justin Bons Face Off
Ryan Berckmans, Ethereum community member and investor

Links

Previous coverage on Unchained of ETH and L2s:
Are L2s 'Parasitic'? Analysis Shows Ethereum Only Gets a Tiny Percentage of Fees
Are Solana's 'Network Extensions' Just Like Ethereum's Layer 2s But by a Different Name?
Ethereum Has Had a Banner Year in Most Areas. Except Price.
Should Ethereum Layer 2s Urgently Decentralize Their Sequencers?

Others

Justin’s thread on whether L2s are parasitic
Tweet by Zach Rynes, aka ChainLinkGod
Adam Cochran’s tweet on based rollups
Ethereum Foundation September AMA
Vitalkin on L2s
How do layer 2s really differ from execution sharding?
Layers 2s as cultural extensions of Ethereum

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Are All Crypto Funds Basically Engaging in Illegal Activity Now? - Ep. 700 Sep 06, 2024

Show notes

The SEC and CFTC’s recent actions against Uniswap and Galois Capital could mark a turning point in crypto regulation. With both firms settling on relatively low fines, are we witnessing regulators establish precedent for a broader crackdown on the industry?

In this episode, Larry Florio, general counsel at 1kx, delves into the implications of these settlements, the frustrations asset managers face with regulatory compliance, and whether the SEC’s approach could push the crypto industry into a corner. Will these actions set a precedent for more aggressive enforcement ahead?

Show highlights:

Why the SEC's action against Galois Capital highlights a shift in language, focusing on tokens "offered and sold as securities"
What a qualified custodian is and why the SEC's action against Galois punishes them for using FTX, which could have fit one definition of a qualified custodian if it hadn’t been perpetrating a fraud
How the SEC demands crypto fund managers comply with regulations on qualified custodians while also limiting qualified custodians in crypto
Whether the SEC is effectively banning crypto funds by requiring compliance with impossible rules
How the SEC penalized Galois for giving affiliates better liquidity terms than outside investors
How SEC Commissioner Mark Uyeda’s call for clarity on "crypto asset securities" reflects the industry’s frustration with the lack of clear guidelines from the SEC
Why the CFTC's fine against Uniswap for alleged leveraged transactions may set a precedent for future enforcement actions
How Commissioner Summer K. Mersinger's dissent highlights the unfairness of punishing Uniswap despite their proactive compliance, according to Larry
Whether the New York Attorney General’s subpoenas to VCs about Uniswap signal a renewed adversarial approach to regulating DeFi
The timing of these actions, along with the SEC’s Wells notice to OpenSea

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guest

Larry Florio, general counsel at 1kx

Timestamps:

➡️ 01:51 - The SEC using different language to describe tokens as securities

➡️ 04:53 - Qualified custodians & Galois Capital's use of FTX

➡️ 09:04 - Compliance frustrations for crypto asset managers

➡️ 11:58 - The SEC effectively banning crypto funds?

➡️ 18:22 - Penalty for giving some investors undisclosed preferential treatment

➡️ 18:25 - SEC Commissioner Mark Uyeda’s call for clarity on crypto assets

➡️ 19:35 - CFTC's fine against Uniswap: A troubling precedent?

➡️ 23:09 -Uniswap's compliance efforts & two CFTC Commissioners’ dissents

➡️ 24:56 - NY Attorney General’s subpoenas

➡️ 27:04 - OpenSea’s Wells notice: NFTs as securities?

➡️ 30:34 - Crypto News Recap

Links

Galois Capital:

The Block: SEC charges and settles with crypto-focused Galois Capital over custody issues
Larry Florio’s thread

Uniswap:

CoinDesk:Uniswap Labs Settles CFTC Charges Over 'Illegal' Margin Products
Blockworks: CFTC Commissioners dissent on Uniswap settlement
Comments from Uniswap counsel
Axios: The SEC has questions for VCs about Uniswap

NY Attorney General’s Subpoenas

CoinDesk: VC Giants a16z, Union Square Ventures Get Subpoenaed by New York About Uniswap: Sources

OpenSea’s Wells notice:

Unchained: If the SEC Sues OpenSea, Here's Why the NFT Platform Could Win Easily

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The Chopping Block: Trump’s World Liberty Financial Unveiled, Memecoin Market Trends, and DeFi Developments - Ep. 699 Sep 05, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this episode, the boys tackle the buzz around World Liberty Financial, a controversial DeFi project linked to Donald Trump, and its ties to a previously hacked protocol. They explore the motivations behind the Trump family's involvement in crypto, questioning the legitimacy and future of the project.

The conversation pivots to memecoins, with debates around the sustainability of the memecoin market and the growing influence of platforms like Pump.fun. We explore the thought-provoking discussion on the evolution of financial games in crypto, where both strategies and the game's rules can change dynamically. The squad also reflects on broader crypto market trends, touching on AI-driven markets, decentralized finance, and the shifting regulatory landscape.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show highlights

🔹 World Liberty Financial, a DeFi project allegedly linked to Donald Trump, sparks controversy with its origins in a hacked protocol.

🔹 Debate on the motivations behind Trump family involvement in crypto, questioning the legitimacy of World Liberty Financial.

🔹 Discussion around memecoins and their market cycles, with concerns about the sustainability and long-term viability of these tokens.

🔹 The concept of dynamically adjusting financial rules in crypto systems, contrasting it with traditional finance.

🔹 Pump.fun reaches $100M in revenue, marking it as a dominant memecoin platform, but also raising questions about the health of the memecoin ecosystem.

🔹 The innovation in memecoins, suggesting that dynamic mechanics could extend the life cycle of these tokens.

🔹 Broader reflections on the future of memecoins, potential market corrections, and how the crypto ecosystem will adapt.

🔹 Speculation on the continued rise of AI-driven markets and the evolving role of decentralized finance in a digital-first world.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Tarun Chitra, Managing Partner at Robot Ventures

Disclosures

Links

Coindesk article: “Inside the Trump Crypto Project Linked to a $2M DeFi Hack and Former Pick-Up Artist”

https://www.coindesk.com/business/2024/09/04/in-trump-backed-crypto-project-insiders-are-poised-for-unusually-big-paydays

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Bitcoin Is Just for Libertarians, Right? Two Progressives Disagree - Ep. 698 Sep 03, 2024

Show notes

As the 2024 elections draw near, Bitcoin and crypto have become hot topics on the political stage. In this episode, Trey Walsh, host of The Progressive Bitcoiner podcast, and Jason Maier, author of “A Progressive’s Case for Bitcoin,” explain why they believe progressive values align with Bitcoin. They discuss how Bitcoin can be a tool for social justice and financial inclusion, challenge misconceptions about its environmental impact, and debate whether making Bitcoin a presidential issue in 2024 was premature.

With Elizabeth Warren attacking crypto and the unfriendly environment for the industry under the Biden administration, the guests also highlight that there’s a slight change in the Democratic party, though they are not certain that the Harris campaign will adopt a pro-Bitcoin stance.

Show highlights:

How Trey and Jason became Bitcoiners
What progressivism means to Trey and Jason, highlighting Bitcoin's alignment with social justice and financial inclusion, beyond its typical libertarian associations
How Jason and Trey persuade skeptical progressives about Bitcoin
Whether they believe that other areas of crypto besides Bitcoin have value
Why they think Bitcoin’s environmental impact is the biggest misconception among progressives
Whether Elizabeth Warren’s focus on consumer protection blinds her to Bitcoin as a tool for financial inclusion
Why Jason believes pushing Bitcoin as a presidential issue in 2024 was premature
Why Trey sees potential hope for pro-crypto policies under a potential Harris administration, despite the hostility of the Biden administration

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guests:

Trey Walsh, host of The Progressive Bitcoiner podcast
Jason Maier, author of “A Progressive’s Case for Bitcoin”
Trump and the Future of Bitcoin, Jason’s op-ed

Timestamps:

➡️ 02:06 - How Trey and Jason became Bitcoiners

➡️ 05:14 - Bitcoin, progressivism & social justice

➡️ 11:24 - Persuading skeptical progressives

➡️ 16:19 - Value beyond Bitcoin? Other cryptos

➡️ 21:46 - Environmental impact misconceptions

➡️ 34:36 - Elizabeth Warren & Bitcoin: Consumer protection vs. financial inclusion

➡️ 41:24 - Was making Bitcoin a 2024 election issue premature?

➡️ 55:15 - Potential for pro-crypto policies under Harris?

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The Chopping Block: Telegram's Founder Arrested, OpenSea Under Fire, and Ethereum's Dilemma - Ep. 697 Aug 31, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this episode, the squad is joined by Rebecca Rettig, Polygon’s Chief Legal & Policy Officer, to dissect the SEC's impact on the crypto landscape, particularly focusing on OpenSea's Wells notice and impending legal challenges.

They discuss the arrest of Pavel Durov, Telegram's founder, analyzing the political and cybersecurity ramifications. The conversation shifts to the internal frictions within the Ethereum Foundation and Vitalik Buterin's criticism of DeFi, reflecting the community's mixed reactions. The broader implications for the crypto industry, privacy, and regulatory clarity are highlighted with special insights from guest Rebecca Rettig, who adds depth on the legal and historical context. Wrapping up, they anticipate future challenges and emphasize staying informed.

Show highlights

🔹 Arrest of Telegram founder Pavel Durov in France sparks global free speech and encryption debates.

🔹 Impact of Pavel Durov's charges on Telegram's role in global communication and crypto communities.

🔹 DeFi protocols face challenges with decentralization, privacy, and regulatory pressures.

🔹 OpenSea receives a Wells notice from the SEC, raising concerns about NFT marketplaces and royalty enforcement.

🔹 Ethereum Foundation's spending and Vitalik Buterin's critical comments on DeFi stir community debate.

🔹 Tension between public goods and financial services in Ethereum's future development.

🔹 Real-World Assets (RWAs) and their controversial role in Ethereum's ecosystem.

🔹 Speculation on future Ethereum protocol changes and their impact on network efficiency and user experience.

🔹 Broader implications of the SEC's aggressive stance towards crypto exchanges and NFT platforms.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Tarun Chitra, Managing Partner at Robot Ventures

Special Guest

⭐️Rebecca Rettig, Chief Legal & Policy Officer at Polygon Labs

Disclosures

Links

Plurality philosophy in an incredibly oversized nutshell by Vitalik:

https://vitalik.eth.limo/general/2024/08/21/plurality.html

OpenSea’s response to SEC Wells notice “Taking a stand for a better internet” by Devin Finzer

https://opensea.io/blog/articles/taking-a-stand-for-a-better-internet

Timestamps

00:00 Intro
01:24 Telegram’s Pavel Durov’s Arrest
05:12 Free Speech/Encryption in the Crypto World
09:26 Policy Implications for Tech Platforms
13:57 France's Role and International Reactions
27:49 SEC Targets OpenSea
36:35 SEC’s Jurisdictional Strategies
40:29 Good vs. Bad Actors
45:16 Ethereum Foundation: Public Good or DeFi?
56:43 Vitalik vs. Crypto Twitter

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If the SEC Sues OpenSea, Here's Why the NFT Platform Could Win Easily - Ep. 696 Aug 30, 2024

Show notes

The SEC’s latest enforcement action is targeting NFTs, and OpenSea is in the crosshairs. In this episode, crypto lawyer Preston Byrne joins to unpack the implications of the SEC's Wells Notice to OpenSea and what it might mean for the platform and the broader NFT market. Could Section 230 of the Communications Decency Act provide a unique defense for OpenSea? Preston also dives into other recent SEC moves, including cases against Stoner Cats, Impact Theory, and more.

Lastly, with the 2024 elections looming and political divides sharpening, is the SEC overreaching in its approach to crypto?

Show highlights:

Why Preston believes that the SEC will go after OpenSea for being an unregistered securities exchange
What the Stoner Cats case was about and why it was not a strong enforcement action, according to Preston
Why OpenSea's defense against the SEC may hinge on Section 230 protections for user-generated content, setting it apart from traditional exchanges like Coinbase or Binance
How the clear-cut promises made by Impact Theory about potential returns made their NFTs resemble securities, unlike the typical art-focused NFTs on OpenSea
Why Nate Chastain’s NFT insider trading case is unlikely to impact the SEC’s potential lawsuit against OpenSea
Whether the $4 million settlement by Dapper Labs over NBA Top Shot NFTs likely represents little relevance to OpenSea's SEC issues
What a Wells notice signals about the SEC's likelihood of suing OpenSea and why they might feel confident about winning this case
How Jonathan Mann and Brian Frye's lawsuit for clarity on NFTs as securities highlights the SEC's potentially overreaching stance in its possible case against OpenSea
How Trump's careful language around his NFT collection likely minimizes SEC risk by avoiding investment promises and focusing on their use as digital collectibles
Whether the SEC's actions could reinforce the divide among crypto voters, with Trump promising a crypto-friendly stance and Harris likely continuing a more adversarial approach

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guest

Preston Byrne, Managing Partner at Byrne & Storm

Links

Wells notice

Original announcement by X by OpenSea’s CEO Devin Finzer
Unchained: OpenSea's Wells Notice From the SEC Could Prove ‘Disastrous’

Recent cases

Unchained: Are NFTs Securities Offerings? Two Artists Sue the SEC to Find Out
The Defiant: NFTs Are Securities? All Eyes Turn to Top Shot Case
Reuters:
US regulator fines Stoner Cats creator for offering NFTs
Ex-OpenSea manager sentenced to 3 months in prison for NFT insider trading
Hester Peirce’s dissent on the Stoner Cats case

Others

Paper: The Economic Reality of NFT Securities.
Mondaq: Defining NFTs: Property, Securities, Or Commodities?

National Post: Trump’s newest NFTs show him as superhero, boxer and motorcyclist

Timestamps:

00:00 - Introduction
02:11 - SEC targets OpenSea: Unregistered exchange?
03:58 - Stoner Cats case: Weak for SEC?
07:42 - OpenSea's defense: Section 230 protections
13:15 - Impact Theory's promises vs. OpenSea's NFTs
15:34 - Nate Chastain's case
17:15 - Dapper Labs settlement: Relevance to OpenSea
18:56 - Wells notice: SEC's confidence to sue
19:48 - Mann & Frye's lawsuit: SEC overreach?
22:39 - Trump’s NFT strategy: Minimizing SEC risk
24:53 - What this Wells notice says about the presidential election
58:25 - News Recap

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Bits + Bips: Fed Moves, Election Plays & DeFi Token Valuations - Ep. 695 Aug 28, 2024

Show notes

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann welcome venture capitalist Rennick Palley to explore the implications of Fed chair Jerome Powell's recent shift from focusing on inflation to employment, analyzing how it might influence crypto and global markets.

Palley also shares some incisive analysis for why he thinks blue-chip DeFi projects might be overvalued, and both McCann and Palley highlight why they are still bullish on memecoins.

Finally, the gang discusses the growing political influence of the crypto industry, the potential impact of Kamala Harris presidential run on future regulations, and whether Justin Sun is using Tron as his “personal piggy bank.”

Plus, what’s the latest with bitcoin ETF option applications, and what Telegram CEO Pavel Durov’s arrest means.

Show highlights:

00:00 Intro
02:41 How Powell's speech signaled a shift from a focus on inflation to employment and what that means for crypto markets
10:25 Why the Fed's proactive stance on the labor market could cement Powell's legacy, and how cutting rates amid high real rates might prevent long-term economic damage
23:47 How a significant payroll revision caused a brief panic, yet the markets dismissed it as noise due to its lagging nature
27:21 What the absence of crypto in the DNC's platform means for the industry, and how Kamala Harris’ presidential run could impact future regulations
34:12 How the surge in crypto contributions to political campaigns highlights the industry's growing influence
37:00 How the growing narrative around undervalued DeFi tokens could play out under a Trump administration, given the perception of Republican support for crypto
43:15 Why blue-chip DeFi projects, despite their dominant market share and attractive business models, may be overvalued, according to Rennick
53:44 Whether Justin Sun uses Tron as his “personal piggy bank”
58:52 Whether investing in memecoins is a good strategy and how to construct a portfolio around them
1:12:59 Why James says that the withdrawal and refiling of bitcoin ETF options applications signals potential progress, and how the SEC’s ongoing review could lead to approval by early 2025
1:19:43 Pavel Durov’s arrest and why Alex believes TON might be a good asset to buy

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric

Guest:

Rennick Palley, Czar of Speed, Protector of the Hat.

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How to Build the Fastest Onchain Experience With Monad, Sei, and Eclipse - Ep. 694 Aug 27, 2024

Show notes

In this episode of Unchained, Keone Hon of Monad Labs, Jay Jog of Sei Labs, and Vijay Chetty of Eclipse Labs share insights on their distinct approaches to scalability and performance in high-throughput blockchains. They discuss the technical advantages of parallelized EVMs, the strategic decisions behind blockchain architecture, and the innovations driving the next generation of high-speed chains.

Show highlights:

00:00 Intro
02:02 How Monad got started and its mission from the very beginning
03:46 The features that enable Monad to be a high-throughput blockchain
07:32 Why Monad chose to make a new blockchain instead of an L2
08:36 Why Keone believes that Monad offers the best experience for developers and why he doesn’t like the ‘Ethereum killer’ description
15:48 Monad’s big venture capital raise and how they’ll use the money
17:30 Monad’s strong community
19:21 The next steps for Monad and whether we’ll see a token soon
20:02 What Sei is and the role of the GameStop saga in the creation of it
21:31 Why Jay believes the EVM developer ecosystem is so strong
25:45 Why Sei pivoted from Cosmos to the EVM that led to the launch of its v2
27:14 What allows Sei to be “the fastest chain, even faster than Solana”
33:03 How Sei DB works, and why Jay says that the monolithic approach has many advantages to the modular one
45:35 How Eclipse works by combining Ethereum, Solana, and Cosmos
53:22 How Eclipse deals with the complexities of its modular architecture
54:54 What ways there are to transact in SOL on Eclipse
55:44 Vijay’s reaction to how Eclipse Labs has responded to the allegations against its founder and former CEO Neel Somani
57:21 How Eclipse aims to attract developers
1:01:15 What areas within crypto Vijay expects will flourish on Eclipse
1:03:49 The next steps for Eclipse and when the mainnet could launch

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guests:

Keone Hon, Co-founder and CEO at Monad Labs.
Jay Jog, Co-founder of Sei Labs.
Vijay Chetty, CEO of Eclipse Labs.

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Pendle Ripped in Early 2024, But Usage Has Slowed Down. Can It Recover? - Ep. 693 Aug 23, 2024

Show notes

Pendle Finance, an innovative protocol that lets users trade yield, surged in popularity earlier this year but is now grappling with a downturn in usage.

In this episode, founder TN Lee shares insights into Pendle's approach, the factors behind its recent success, and the challenges it faces in recovering user engagement and TVL. Plus, since Pendle’s rise was driven by the points narrative, TN talks about how the protocol can keep growing.

Show highlights:

00:00 Intro
01:24 What Pendle is, how the idea for it was born, and how it works
05:06 Why Pendle has exploded this year, even though it launched years ago
12:01 Whether Pendle is an app for sophisticated traders and the most common strategies in the protocol
15:46 How users are able to leverage their earned points in several protocols
19:20 Besides market risks, what the risks are of trading in Pendle and how they try to mitigate them
20:57 Pendle’s recent significant drop in TVL and plans to recover
24:13 If the points narrative ends, will Pendle remain relevant?
27:31 Crypto News Recap

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

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Guestl

TN Lee, Founder of Pendle Finance

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