Three bets the @Drakulaapp team is making for our next onchain app: all in on Base, make crypto invisible, and match TikTok UX.
1. All in on @base: Base isn't perfect today, but the combination of their huge distribution, incredibly affordable fees, and the nascent Coinbase Smart Wallet / OnchainKit tools makes me bullish.
2. Make crypto invisible: We need to embed wallets so that the most painful step is solely restricted to the signup phase – my instinct tells me it's a Passkey + email pairing. Then we just never show crypto nor wallets again to the user, unless they need to fund their wallet.
3. Match TikTok UX: If we include crypto-native products like @zora or trading any token on Base, that is superior enough in UX. We just need the table-stakes product offering people have learned to love about TikTok: show short entertaining videos, and social features like comments and sharing. Markets, not AI, will drive the content curation for us.
Amen. You'll see what we're talking about next week when we launch, stay tuned 🚀✨
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[THREAD] Last month I started a Telegram group around what I firmly believe will be the next huge #DeFi trend: undercollaterization.
Here are my takeaways and pieces from the brilliant people who took part in the discussion:
First, context. DeFi only leverages overcollaterization because it’s the easiest enforcement: you can be 100% sure one will repay risky/volatile positions (smart contract risk aside)
But the world isn’t made of rich Compound whales. Actually, undercollaterization is everywhere.
Whether it’s social credit rating, or fractional reserve banking, loans, it’s all undercollateralized.
Yes, it’s prone to mistakes, but this time we can make it *transparent* and permissionless (which means more liquid for everyone). It’s healthier
First, iPhone’s architecture & culture is _opposite_ that of Nokia, and yet claims to offer same solutions: phone calls, text, MMS…
Second, iPhone is considered a phone ‘blue chip’, thus colors perception of uninformed newcomers.
I've followed the iPhone since 2004 & feel a responsibility to share my concerns. IMO contrary to its marketing, iPhone is at best a science experiment. It’s sold 2 millions in 2007, which I think is still too high.