✿ Payments @coinbase ✿ Prev ceo @utopialabs_. Personal acct, views are my own.
Sep 17 • 5 tweets • 2 min read
A messy brain dump on why Tori (an app we built that was the easiest way to access 7% APY via Aave), failed.
The initial hypothesis in 2024 was that retail wanted to access DeFi, but it was difficult - wallet set up, onramps, accessing DeFi was still hard.
If we made this easier with Privy / Plaid / DeFi abstraction, users will want this product.
However, we learned a bunch - compiled my notes below:
➤ Alot of it came down to how users psychologically measured the risk/reward of using Tori.
➤ The rates on Aave/Morpho vs the the high interest rate environment that we've had in the past 2 years didn't make sense for non crypto natives to take the risk on their principal.
➤ Because users could hypothetically lose their principal, the risk / reward didn't make sense (it turns out that users actually care about FDIC!).
Jan 31, 2024 • 12 tweets • 6 min read
I broke down the best onramp + offramp solutions for USDC in the U.S, based on 3 factors:
a) Onramp fee
b) Offramp fee
c) Payment method
Check the end of the thread to see which solution is the best.
Keep in mind:
- This doesn't include centralized exchanges.
- I'm not comparing the cheapest chain (ie AVAX vs SOL).
- Some solutions are limited by the payment method, and doesn't account for UX differentiators. For ex, Apple pay is usually more expensive, but a better UX.
Sep 18, 2023 • 4 tweets • 2 min read
With @utopialabs_ - you're now able to do the following:
↳ Send (offramp) ACH/Wire transfers with USDC or USDT.
↳ Receive (onramp) USDC with ACH/Wire transfers.
There's a few use cases that really excite me, noting below.
