17 days in: community retention strong, income > cash burn, ftUSD live on Ethereum + Sonic. Next: Lend, Spot, TRS. At $3.5k/day revenue, unallocated + divested supply gets burned.

Crypto can be very noisy, and innovation moves slow, but just reflecting on how much even simple things like stablecoins have come from back when Tether started from just tokenizing USD deposits on bitfinex to make trades a bit simpler, to where we are today with CDP's thanks to Maker, fixed yield with Spark, peg mechanisms thanks to Frax, and Curve, and yield opportunities from delta neutral plays thanks to Ethena. It is really crazy what you can accomplish onchain today. You can combine the peg mechanisms, with defi's equivalent of "risk free rate" in Aave, while leveraging that to take advantage of onchain staking / delta plays. It might not seem like much, but the industry has truly evolved a ton since the first promises of defi were just ideas back in 2016-2017. Really love seeing it all come together, but completely onchain