Summary

In this episode, Clouted from ETH Strategy speaks with Peter Abilla and breaks down how they are trying to build an autonomous, on-chain “investment bank” for Ethereum. He walks through how Michael Saylor’s use of convertible notes inspired their structure, why volatility is the raw material for the strategy, and how the protocol aims to grow a large ETH-denominated treasury over time. We talk about execution risk, product market fit, and why everything has to be transparent and market driven. Clouted also shares his core bet that ETH will trend up over the long run and how ETH Strategy wants to package that view into a set of on-chain products powered by volatility, leverage, and clear governance.

Takeaways

— ETH Strategy’s goal is to become a decentralized investment bank built around Ethereum.

— The design borrows ideas from Michael Saylor’s convertible notes playbook and applies them on-chain.

— Volatility is not a bug, it is the core input the protocol tries to monetize.

— The protocol wants to open up volatility and treasury-style strategies to regular DeFi users.

— Execution risk, both technical and organizational, is one of the biggest challenges.

— The core thesis is that ETH appreciates over time and the system is built around that long-term trend.

— Radical transparency is required so depositors can see and judge every move the strategy makes.

— ETH Strategy aims to keep shipping new on-chain financial products around ETH and volatility.

— The long-term vision is a large ETH treasury and growing earnings per share for the STRAT token.

— Market signals, not committees, should guide how the protocol evolves and allocates capital.

Chapters

(00:00) Introduction to ETH Strategy

(01:18) Understanding the protocol’s foundation

(06:04) TradFi playbooks versus DeFi-native design

(09:50) Mechanics of ETH Strategy’s treasury

(15:15) The vision behind ETH Strategy

(19:45) Current treasury holdings and future outlook

(21:37) Governance, control, and strategy shifts

(24:10) Finding product market fit in crypto

(27:30) Why transparency matters in vault strategies

(27:54) Core assumptions behind ETH Strategy

(30:34) Understanding execution risks in DeFi

(32:29) The role of volatility in ETH strategies

(34:40) Evaluating Ethereum Layer 2 environments

(38:47) ETH as a long-term store of value

(40:59) Innovating ETH strategies for better yield

(46:53) Vision for ETH Strategy over the next 12–24 months

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Summary

In this conversation, Alex Miller from Stacks Labs discusses with Peter Abilla the evolution of Bitcoin and the Stacks ecosystem. He shares his journey into Bitcoin, emphasizing its role as a competitive force against fiat currencies and the importance of decentralizing trust. The discussion covers the unique features of Stacks as a Layer 2 solution, its growing developer ecosystem, and innovative applications like dual stacking that allow users to earn Bitcoin. Miller also highlights the importance of user experience and institutional participation in the Stacks ecosystem, concluding with the vision of Stacks Labs to activate the Bitcoin economy. In this conversation, Alex Miller discusses his approach to leadership as a CEO, emphasizing the importance of prioritizing tasks and fostering a collaborative work environment. He explores the balance between professionalism and maintaining a unique culture within the crypto space, particularly in relation to Bitcoin and Stacks. The discussion also covers key performance indicators for measuring success, the role of Stacks Labs in supporting developers, and the significance of framing crypto projects as small businesses. Miller shares insights from his experience testifying in Congress and outlines his vision for the future of the Stacks ecosystem, highlighting the need to unlock Bitcoin liquidity for decentralized finance.

Takeaways

Bitcoin serves as a competitive force against government fiat systems.

Decentralizing trust is the true innovation of Bitcoin.

Stacks aims to enhance Bitcoin's capabilities without compromising its security.

The Stacks ecosystem has a rapidly growing developer base.

Dual stacking allows users to earn Bitcoin while participating in DeFi.

Stacks is unique in its mining process, linking it directly to Bitcoin.

The Stacks ecosystem supports a diverse range of applications.

User experience is crucial for the adoption of decentralized systems.

Institutional participation is growing in the Stacks ecosystem.

The vision of Stacks Labs is to activate the Bitcoin economy. Try and not let other people prioritize my day.

Fast cycle times are important for iteration.

You're like a bus driver, keep the bus pointed in the right direction.

Be obsessed about the strategy and top level stuff.

Professionalizing is a good thing, but avoid being corporate.

We need a market structure bill to support good projects.

It's a mixture of competition and collaboration among Layer 2s.

Our main role is to build the blockchain and support developers.

Testifying in front of Congress was a crazy experience.

We have more small businesses in Bitcoin than any other ecosystem.

Chapters

00:00 Introduction to Bitcoin and Stacks Ecosystem

03:04 The Appeal of Bitcoin and Decentralized Trust

05:52 Understanding Stacks: A Layer 2 Solution for Bitcoin

09:07 Comparing Stacks with Other Bitcoin Layer 2 Solutions

11:52 Building a Developer Ecosystem on Stacks

15:06 Innovative Applications in the Stacks Ecosystem

17:59 Dual Stacking: A New Approach to Bitcoin Yield

21:02 User Experience and Institutional Participation in Stacks

24:05 The Vision and Growth Strategy of Stacks Labs

25:44 Prioritizing the Day: A CEO's Approach

27:54 Professionalism vs. Corporate Culture in Crypto

31:08 Measuring

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Summary

In this conversation, Peter Abilla interviews Alex Shevchenko, head of Aurora Labs and a key developer of NEAR Protocol. They discuss the impressive growth of NEAR Intents, its innovative approach to cross-chain interoperability, and the importance of user experience in crypto transactions. Alex explains how NEAR Intents differentiates itself from traditional bridges and centralized exchanges, emphasizing the need for a seamless user experience. The conversation also touches on NEAR's market share growth and distribution strategies, highlighting partnerships with wallets and other platforms. In this conversation, Peter Abilla and Alex Shevchenko delve into the complexities of the crypto landscape, focusing on security risks, user experience, and the evolving role of technology in the industry. They discuss the importance of simplifying communication for broader adoption, the dynamics of wallet providers, and the future of Near Intents in expanding financial use cases. The integration of AI with blockchain is also highlighted as a significant trend shaping the future of commerce and technology.

Takeaways

NEAR Protocol has achieved significant market share in cross-chain infrastructure.

Chain signatures are a key innovation for NEAR's interoperability.

User experience in crypto is crucial for adoption.

NEAR Intents operates like a decentralized exchange.

The complexity of blockchain transactions should be hidden from users.

Partnerships with wallets are essential for distribution.

The growth of NEAR Intents has been organic and consistent.

Decentralization offers security that centralized exchanges cannot guarantee.

The biggest assets in crypto are often not wrapped assets.

User stickiness to wallets can drive transaction volume.  Security risks in crypto transactions are significant and must be addressed.

User experience is paramount in the crypto space, focusing on peace of mind.

The crypto industry needs to shift from technology jargon to user-centric messaging.

Simplifying complex concepts can lead to broader adoption of crypto technologies.

Wallet providers often prioritize fees over user choice, impacting user experience.

Business development agreements can influence user decisions in crypto transactions.

The future of Near Intents includes expanding financial use cases beyond spot trading.

AI integration with blockchain presents new opportunities for decentralized applications.

Decentralized Confidential Machine Learning (DCML) is a promising development in AI.

The synergy between AI and blockchain can lead to innovative solutions in the market.

Chapters

00:00 Introduction to NEAR Protocol and NEAR Intents

05:06 Understanding Cross-Chain Interoperability

10:55 User Experience in Crypto Transactions

16:41 NEAR Intents vs. Traditional Bridges

22:38 Market Share Growth and Distribution Strategies

29:39 Navigating Security Risks in Crypto Transactions

31:14 The Importance of User Experience in Crypto

32:34 The Shift from Technology to User-Centric Messaging

34:06 Simplifying Complex Concepts for Broader Adoption

35:44 Understanding Wallet Provider Dynamics

38:24 Business Development Agreements in Crypto

41:10 Future Directions for Near Intents

43:57 Expanding Financial Use Cases in Crypto

46:51 AI and Blockchain: A Synergistic

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Summary

In this episode of the Block by Block show, Peter Abilla interviews Dom Ryder, the founder of Alvara.xyz, a decentralized finance protocol that aims to revolutionize crypto asset management. Dom shares his journey from traditional finance to the world of DeFi, highlighting the injustices he faced in the industry that inspired him to create Alvara.xyz. The conversation delves into the unique features of Alvara.xyz, including the ERC-7621 token standard, which allows for active management of crypto assets, and the platform's focus on meritocracy. Dom explains the customer journey, the marketplace dynamics for money managers, and the potential for institutions and DAOs to utilize Alvara.xyz for asset management. The episode concludes with insights into the future of Alvara.xyz and its upcoming mainnet launch. In this conversation, Dominic Ryder discusses the complexities of venture capital investments in the crypto space, emphasizing the unpredictable nature of market behavior and the challenges faced by projects that may not be trendy but still hold value. He outlines the go-to-market strategies for Alvara, focusing on the importance of psychological marketing and the need for a strong community. The discussion also covers the fee structures and incentives for money managers on the platform, as well as the potential for institutional adoption. Finally, Ryder critiques the theatrical nature of token launches in the crypto industry, highlighting the need for a shift in how projects are rewarded.


Takeaways

Alvara.xyz was created in response to nepotism in traditional finance.
The ERC-7621 token standard allows for decentralized asset management.
Alvara.xyz empowers individuals to manage their own funds without traditional barriers.
The platform provides a marketplace for money managers to showcase their performance.
It's designed to be a meritocracy with no glass ceilings for success.
Users can mint, manage, and even sell their funds on Alvara.xyz.
Alvara.xyz is currently in public testnet, preparing for mainnet launch.
The platform aims to attract institutions for liquidity and scalability.
DAOs can use Alvara.xyz to de-risk their treasury holdings.
Alvara.xyz's unique approach sets it apart from other DeFi protocols. Utility doesn't always reward good behavior.
VCs can still believe in projects despite market downturns.
Marketing in crypto requires a psychological approach.
People need to feel clever about their purchases.
The importance of community in crypto marketing.
Alvara's fee structure incentivizes managers and contributors.
Institutional capital can drive market dynamics.
Token launches often resemble theater rather than genuine value.
The crypto market rewards risky behavior over good practices.
There's a need for better risk management in crypto investments.

Chapters

00:00 The Genesis of Alvara.xyz
05:28 Understanding Alvara.xyz's Unique Approach
10:04 The ERC-7621 Token Standard Explained
12:41 Customer Journey and User Experience
21:34 Marketplace Dynamics and Performance Metrics
30:42 Target Audience: Institutions and Beyond
31:35 The Fickle Nature of VC Investments
35:35 Go-to-Market Strategies in Crypto
40:03 Navigating Risks and Responsibilities
44:21 Fee Structures and Incentives
47:44 Institutional Adoption and Market Dynamics
53:11 Theatrical Nature of Token Launches

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Summary

In this conversation, Erick Ho, co-founder of Function Network, shares his journey from creating a RuneScape bot to developing a managed AI cloud platform. He discusses the challenges of sustainability in open source models, the role of blockchain in coordinating AI transactions, and the importance of personalization in AI agents. The conversation also touches on the competitive landscape of AI and crypto, as well as the future plans for Function Network.


Takeaways

Erick's journey into technology began with creating a RuneScape bot.
Bots are an early iteration of AI agents.
Open source model sustainability is a pressing issue.
Function Network aims to coordinate developers, model creators, and infrastructure providers.
Blockchain facilitates seamless payments in the AI ecosystem.
AI agents can be hyper-specialized for specific industries.
The Function Network is currently attracting developers to its platform.
Transaction fees in traditional systems are a barrier to scalability.
Personalization enhances the effectiveness of AI models.
The AI and crypto landscape is still evolving with many opportunities.

Chapters

00:00 The Genesis of a Tech Enthusiast
02:55 From Gaming to AI: The Evolution of Function Network
05:59 Understanding Managed AI Cloud Services
09:05 The Sustainability Challenge of Open Source Models
12:08 Function Network: Bridging Gaps in AI Development
15:02 Targeting Developers: The Function Network Approach
18:01 Hyper-Specialized AI Agents in Various Industries
20:57 Defining AI Models and Agents
24:01 The Intersection of AI and Crypto
28:11 Understanding Function Network and Crypto Integration
30:47 Traction and Development Progress of Function Network
32:34 Target Users and Incentives in Testnet
34:12 Challenges in Attracting Model Developers
36:30 Navigating Competition in the AI and Crypto Landscape
40:30 Differentiating Models in a Crowded Market
48:12 Final Thoughts on Overrated Ideas and Influential Builders

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Summary

In this conversation, Simon Jones, co-founder of Reya, discusses the innovative architecture of their decentralized exchange (DEX) that achieves both speed and decentralization. He explains the target audiences for Reya, including hobbyist and institutional traders, and how the platform is designed to meet their needs. The discussion also covers Reya's unique revenue models, marketing strategies, competitive positioning in the market, and future innovations aimed at enhancing user experience and attracting new traders. In this conversation, Simon Jones discusses the future of decentralized exchanges (DEXs), the importance of trading without fees, and the innovative features of Reya, including its unique incentive mechanisms and community-building strategies. The discussion also covers the role of oracles in DeFi and the vision for Reya to become a leading DEX in the market.


Takeaways

Reya is a next-generation perp DEX that achieves speed and decentralization.
The architecture allows for millisecond-level execution without sacrificing decentralization.
Most traders prioritize execution speed over the technical details of the platform.
High-frequency trading firms are a significant target audience for Reya.
Removing trading fees has proven effective in attracting degen users.
Reya's volume has doubled every month since its launch.
The platform's long-term strategy includes integrating with Ethereum's DeFi ecosystem.
Community engagement and word-of-mouth marketing are key to Reya's growth.
Reya is exploring partnerships to enhance its offerings for new traders.
Copy trading and vault structures are potential features for less sophisticated traders. Trading without fees is a significant advantage.
Enshrining functionality into Ethereum enhances its capabilities.
Oracles play a crucial role in providing real-time data for DeFi applications.
Reya aims to be the number one DEX in the market.
The DEX market is expected to grow significantly in the coming years.
Incentive mechanisms like points and staking are vital for user engagement.
Community involvement is essential for the growth of Reya.
Reya's unique features set it apart from other DEXs.
The future of trading includes more efficient capital use and liquidity.
It's never too late to join the Reya platform.

Chapters

00:00 Introduction to Reya and Its Purpose
03:12 The Architecture of Reya: Speed and Decentralization
06:08 Target Audiences: Traders and Their Needs
09:10 Innovative Revenue Models and Fee Structures
12:07 Marketing Strategies and Community Engagement
15:09 Competitive Positioning in the Perp DEX Market
18:01 Future Innovations and Developer Education
20:55 Building for New Traders and Partnerships
27:22 Trading Without Fees: A Game Changer
28:40 Enshrining Functionality in Ethereum
31:22 The Role of Oracles in DeFi
33:20 Aiming for the Top: Future of DEXs
39:10 Incentive Mechanisms: Points and Staking
44:40 Building a Thriving Community

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Summary

In this conversation, Nick Emmons, founder and CEO of Allora Labs, discusses the Allora Network with Peter Abilla, a decentralized platform aimed at improving machine learning through collaboration among various AI models. He explains the structure of the network, the roles of different participants, and the importance of data in AI model development. Emmons also highlights the incentives for network participants, the go-to-market strategy, and the potential impact of Allora on the AI and crypto industries. The discussion emphasizes the need for community involvement and the future of decentralized AI.


Takeaways

Allora Network aims to decentralize AI model coordination.
The transition from the information age to the intelligence age is crucial.
Decentralized AI can serve as a public good.
The network allows for collaboration among various AI models.
Incentives are based on performance and accuracy of predictions.
Application developers can focus on objectives rather than models.
The go-to-market strategy targets the DeFi sector.
Abstraction of crypto complexities is essential for AI developers.
Community involvement is vital for the growth of Allora.
Non-developers can contribute to the Allora community in various ways.


Chapters

00:00 Introduction to Allora Network
02:47 The Philosophy Behind Allora
06:02 Understanding the Model Coordination Network
08:55 Roles Within the Allora Network
12:06 The Importance of Feedback Loops
15:01 Topics vs. Domains in AI
18:01 Nick Emmons' Background and Journey
20:52 Data Sources for Inference Workers
24:00 Optimizing Efficiency in Data Systems
26:03 Incentives in the Allora Network
27:06 The Role of Application Developers
29:03 Innovative Use Cases in DeFi
32:06 Exploring Perpetual Exchanges
36:02 Go-to-Market Strategy for Allora
39:58 Abstracting Crypto for Model Developers
43:09 Current Status and Future Roadmap
45:00 Disruption in the AI Model Market
46:53 Community Engagement Beyond Developers

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Summary

In this conversation, Varun, co-founder of Hibachi.xyz, discusses with Peter Abilla the innovative features and technical aspects of their decentralized trading platform. He emphasizes the importance of privacy in trading, the unique technical stack that supports Hibachi, and the strategies for community engagement and liquidity. Varun also shares insights on the competitive landscape of perpetual trading exchanges and the future roadmap for Hibachi, including user engagement initiatives like the Sparks program.

Takeaways

Hibachi is a privacy-first decentralized trading platform.

The platform uses zero-knowledge proofs for transaction integrity.

User feedback is central to Hibachi's product development.

Hibachi aims to differentiate itself through speed and privacy.

The platform is currently in public beta and iterating based on user feedback.

Liquidity is driven by community demand and partnerships with market makers.

Innovative user engagement strategies include the Sparks program.

Hibachi plans to expand its asset listings based on community requests.

The trading experience is designed to be intuitive for both traders and non-traders.

Varun believes in healthy competition within the DEX market to drive innovation.

Chapters

00:00 Introduction to Hibachi and Varun

01:45 Understanding Hibachi's Unique Features

05:58 The Technical Stack Behind Hibachi

08:20 The Importance of Privacy in Trading

12:45 Hibachi's Market Position and Differentiation

16:01 Liquidity and Asset Listing Strategies

20:10 Marketing Strategies for Trader Engagement

22:54 Innovative Features: Sparks and User Engagement

25:27 Current Stage and Future Plans for Hibachi

26:53 Trader Personas and Market Competition

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Summary

In this conversation, Peter Abilla interviews Kevin Kap, co-founder of WCM, a capital-efficient trading venue. They discuss the origin of WCM, the identification of market inefficiencies, and the importance of capital efficiency in trading. Kevin explains the role of their unique risk engine, the integration of spot, perps, and lending, and how WCM aims to educate users and simplify trading strategies. They also touch on the significance of building on MegaETH and the collaboration with RedStone Oracle, as well as the current stage of WCM and future plans for user engagement.


Takeaways

WCM aims to create a capital-efficient trading venue for users.
The risk engine is designed to minimize liquidation risks.
User education is crucial for understanding new trading strategies.
WCM integrates spot, perps, and lending into one platform.
The team is focused on gathering user feedback through interviews.
Building on MegaETH allows for lower gas costs and faster transactions.
WCM is positioned as a new category in trading, combining exchange and prime brokerage features.
The platform is currently in a private alpha stage, with plans for user onboarding.
RedStone Oracle plays a vital role in the functionality of WCM.
The goal is to make trading accessible and profitable for all users.


Sound bites

"It's like a new category."
"We need to do user interviews."
"We're always looking for feedback."


Chapters

00:00 Introduction to WCM and Its Origins
06:53 Identifying Market Inefficiencies
10:28 Understanding Capital Efficiency
15:02 The Role of the Risk Engine
18:10 WCM: A New Category in Trading
21:48 Target Audience and User Experience
24:40 The Early Days of Omi and Its Impact
25:01 Understanding WCM's Unique Value Proposition
27:04 The Journey of Building on MegaEath
28:12 Choosing the Right Blockchain: L1 vs L2
34:13 The Role of Redstone Oracle in WCM
36:17 User Interviews: A Key to Product Development
40:06 Educating Users on New Trading Concepts
41:58 Current Stage of WCM and Future Plans
44:51 Engaging with the Community and Getting Involved

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Summary

In this conversation, Justin from Zeus Network discusses the innovative solutions being developed to bridge Bitcoin and Solana through their programmable library. He highlights the technical challenges faced in cross-chain messaging, the current state of the Zeus Network, and the future plans for expanding into other cryptocurrencies like Litecoin and Dogecoin. The discussion also covers community support, institutional adoption, and the importance of sustainable incentives in building a robust ecosystem.

Takeaways

Zeus's programmable library abstracts SPD verification from Bitcoin to Solana.
Bitcoin's design limitations pose challenges for programmability.
The current version of Zeus Network reduces deposit times significantly.
Zeus aims to support developers building on its platform.
Unlocking idle liquidity from other networks is a key focus.
Institutional interest in Bitcoin yield generation is growing.
Zeus does not rely on point systems for user incentives.
The community's support is crucial for Zeus's growth.
Future plans include launching a Bitcoin DEX on Solana.
Justin's journey into crypto began with a VPN business in 2015.

Chapters

00:00 Introduction to Zulu's Programmable Library (ZPLS)
02:49 Technical Challenges in Cross-Chain Messaging
05:17 Current State and Future of Zeus Network
08:23 Expanding Beyond Bitcoin: Future Networks
10:33 Unlocking Idle Liquidity in DeFi
12:29 Institutional Adoption and Custody Solutions
19:15 Engagement with Bitcoin Miners and Whales
21:16 Technical Challenges with Doge and Litecoin
23:08 Sustainable Community Engagement and Incentives
25:13 Future Roadmap and Innovations for Zeus Network

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