0/ How the DeFi Mullet will bring the benefits of Ethereum to billions of real users.
A guest thread by @PaulFrambot from @MorphoLabs.
A guest thread by @PaulFrambot from @MorphoLabs.
1/ Today, fintech companies own their distributions, but not the financial infrastructure their apps are built on.
They rely on legacy infrastructures that are expensive, inefficient, and difficult to integrate into their backends.
They rely on legacy infrastructures that are expensive, inefficient, and difficult to integrate into their backends.
2/ With the ‘DeFi Mullet’, Ethereum helps solve these challenges.
🔹User-friendly fintech apps ‘in the front’
🔹Ethereum DeFi infrastructure ‘in the back’
🔹User-friendly fintech apps ‘in the front’
🔹Ethereum DeFi infrastructure ‘in the back’
3/ Ethereum’s DeFi Mullet offers Web2 & fintech apps:
🔹Efficiency
🔹Easy & flexible integrations
🔹Transparency
🔹End-to-end control
🔹Efficiency
🔹Easy & flexible integrations
🔹Transparency
🔹End-to-end control
4/ Efficiency
All distributions connect and aggregate every financial opportunity to a single backend: Ethereum.
With open intents and settlement, markets become hyper-efficient, offering the best prices to consumers.
All distributions connect and aggregate every financial opportunity to a single backend: Ethereum.
With open intents and settlement, markets become hyper-efficient, offering the best prices to consumers.
5/ Ease of Integration
🔹 DeFi is permissionless & modular, offering great customization
🔹 Mature tooling makes DeFi integration plug-and-play
🔹 Open code further compounds network effects
Fintechs can build and launch scalable financial products in weeks, not years.
🔹 DeFi is permissionless & modular, offering great customization
🔹 Mature tooling makes DeFi integration plug-and-play
🔹 Open code further compounds network effects
Fintechs can build and launch scalable financial products in weeks, not years.
6/Transparency
DeFi’s auditable architecture fosters trust better than any traditional infrastructure — a major opportunity for fintechs competing with legacy banks.
No more FTX-like scenarios — you can audit the health of financial products in real time.
DeFi’s auditable architecture fosters trust better than any traditional infrastructure — a major opportunity for fintechs competing with legacy banks.
No more FTX-like scenarios — you can audit the health of financial products in real time.
7/ Immutability means control
Building on immutable DeFi infrastructure on Ethereum gives fintechs more control.
No reliance on third parties. No custody risks.
Fintechs have end-to-end ownership over their tech stack, and worry less about platform risks.
Building on immutable DeFi infrastructure on Ethereum gives fintechs more control.
No reliance on third parties. No custody risks.
Fintechs have end-to-end ownership over their tech stack, and worry less about platform risks.
8/ In action: @coinbase Crypto-Backed Loans, powered by Morpho
The first and most successful DeFi Mullet in production — giving hundreds of millions access to DeFi.
The first and most successful DeFi Mullet in production — giving hundreds of millions access to DeFi.
https://x.com/MorphoLabs/status/1879903267146309805
9/ Proof in numbers:
- 9,100+ borrowers
- $510M+ originated
- $860M+ cbBTC collateral
All powered by Morpho — in just months.
- 9,100+ borrowers
- $510M+ originated
- $860M+ cbBTC collateral
All powered by Morpho — in just months.
https://x.com/coinbase/status/1930311250027688166
10/ While this may be the first large-scale DeFi Mullet, it surely won't be the last.
Large-scale consumer apps are coming onchain, and they will be powered by permissionless infrastructure built on Ethereum.
Large-scale consumer apps are coming onchain, and they will be powered by permissionless infrastructure built on Ethereum.
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