The Edge Podcast

William Mougayar is an author, entrepreneur, investor, and Ethereum advocate.

In this episode, we explore why Ethereum shouldn’t be valued like a stock, but instead understood as a public good infrastructure, more like the Internet valued through the lens of dependence, economic flow, and trust.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

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The Edge Podcast Sponsor Resources

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
2:10 - William’s background and Ethereum’s genesis
6:13 - Sponsor break
8:45 - Crypto’s next era will be driven by fundamentals
15:31 - Why the Internet is the right valuation comparison
23:33 - Why Ethereum should be valued as a public good
31:28 - The layers of the Internet vs Ethereum
34:19 - How the Internet has been valued
39:27 - Valuing Ethereum based on Internet valuation frameworks
45:51 - What do we blame ETH’s mispricing on?
58:20 - Closing

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🔗 Guest Links 🔗

► William's Ethereum report: https://ethmrc.com/the-internets-blueprint-for-ethereum-a-trillion-dollar-public-goods-valuation-framework/
► William's blog: https://wamougayar.xyz/
► Ethereum Market Research Center on X: https://x.com/ethereum_mrc
► William Mougayar on X: https://x.com/wmougayar

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. DeFi Dad, Nomatic, and William all hold ETH. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Wojtek Pawlowski and Ioan Moldovan are the CoFounders of Accountable.

In this episode, we explore how real-time financial verification could help surface risk earlier across DeFi, CeFi, and even TradFi. The team behind Accountable explains how a new standard in verifiable, privacy-preserving reporting can change the way markets assess solvency, performance, and trust before problems escalate.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
7:38 - Founders’ backgrounds
14:38 - The problem with “trust me bro” DeFi
23:00 - Building for real-time financial verification
25:18 - How Accountable preserves privacy
32:53 - Real-time reporting for TradFi
40:02 - What is a Data Verification Network?
49:07 - Examples of Proof of Solvency dashboards
56:42 - Marketplace for verifiable yields
1:00:16 - Live verifiable yield vaults on Accountable
1:03:07 - How teams can get started with Accountable
1:06:48 - Accountable business model
1:08:43 - Closing

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🔗 Guest Links 🔗

► Accountable website: https://accountable.capital/
► Accountable on X: https://x.com/AccountableData
► Wojtek on X: https://x.com/VVojtek_P

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. Since recording, DeFi Dad has invested in Accountable. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Nick van Eck is the CoFounder and CEO at Agora.

In this episode, Nick explains why he believes stablecoins are entering their "second inning," how enterprises are beginning to adopt stablecoins at scale, and what it actually takes to build payment infrastructure that operates at the speed of the internet.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
4:56 - History of Nick’s family in finance
13:15 - Pitching crypto and stablecoins to friends
17:39 - Seeing early opportunity in DeFi and stablecoins
23:22 - Has crypto lost its magic?
26:19 - Where are we in the adoption curve for stablecoins?
29:33 - How Agora fits into the payments landscape
34:25 - What does Agora actually do for clients
37:31 - How Agora clients earn revenue
40:05 - How Agora makes money
43:07 - Competitors
46:57 - Considerations for enterprises launching stablecoins
49:04 - Opportunities in the stablecoin boom
53:15 - Fundraising
54:15 - What’s next
55:26 - Closing

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🔗 Guest Links 🔗

► Agora website: https://www.agora.finance/
► Agora on X: https://x.com/agorafinance
► Nick on X: https://x.com/nick_van_eck

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Johann Kerbrat is Crypto General Manager at Robinhood.

In this episode, we unpack why Robinhood built its own Ethereum L2 and how it plans to power 24/7 markets for tokenized stocks, digital assets, pre-IPO company trading, and the next wave of onchain financial products such as stablecoins and prediction markets.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
7:13 - Johann’s background
10:18 - Robinhood leans into DeFi
13:50 - The evolution of Robinhood’s services
16:36 - Why Robinhood built an Ethereum L2 with Arbitrum
24:26 - Sponsor break
25:43 - Tokenization will unlock 24/7 markets
30:12 - 1000 tokenized stocks trading onchain
32:27 - Significance of access to trade pre-IPO companies
37:51 - Regulation remains a big challenge
42:47 - Sponsor break
44:35 - Advanced trading features
46:18 - Robinhood prediction markets
48:54 - Could Robinhood offer a token launchpad?
50:37 - Stablecoins and the USDG initiative
58:06 - Robinhood Ventures invests in Lighter
1:02:08 - Could Robinhood ever offer crypto-backed loans?
1:04:59 - Robinhood in 5 years
1:06:47 - Closing

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🔗 Guest Links 🔗

► Robinhood website: https://robinhood.com/
► Robinhood on X: https://x.com/RobinhoodApp
► Johann Kerbrat on X: https://x.com/JohannKerbrat

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic hold ETH. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

David Schamis is the Founding Partner and CIO of Atlas Merchant Capital and now CEO of Hyperliquid Strategies.

In this episode, David breaks down how serious seasoned investors think about valuing Hyperliquid, from the bull case for HYPE to the economics behind running the largest HYPE DAT in the world. We discuss what's unique about Hyperliquid, navigating mNAV dynamics as a DAT , and why Hyperliquid is well positioned to become financial infrastructure for bringing RWAs and Wall Street onchain.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
5:59 - David and Bob Diamond’s careers
8:16 - How did they learn about Hyperliquid?
14:02 - The bull thesis for valuing HYPE
19:57 - Are regulators ready to embrace DeFi?
25:04 - Sponsor break
26:20 - Growing trade volume in HIP-3 markets
30:23 - What is Hyperliquid Strategies?
33:11 - Navigating market dynamics with mNAV
44:52 - Sponsor break
46:39 - Staking considerations for Hyperliquid Strategies
49:47 - Operating expenses behind running a DAT
52:02 - Merger + new PURR ticker
53:26 - Insights into Jeff’s vision
58:16 - Closing

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🔗 Guest Links 🔗

► Hyperliquid Strategies on X: https://x.com/hypestrat
► David Schamis on X: https://x.com/dschamis

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. Nomatic holds HYPE. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Omnia is the CoFounder of Kinetiq.

In this new episode of Yield Talks on The Edge Podcast, we dive into an overview of HIP-3 markets, Kinetiq’s token launch tomorrow, and what a Hyperliquid builder might speculate on happening next, following the upcoming one year anniversary of the HYPE airdrop.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🔊 DECIBEL | THE NEW SOUND OF TRADING

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
4:32 - What is Kinetiq?
6:21 - Overview of HIP-3
9:19 - How will HIP-3 markets differentiate?
16:15 - Who is trading HIP-3 markets?
19:54 - Sponsor break
21:12 - What else is Kinetiq building?
25:47 - Importance of KNTQ launch
28:20 - Why expand beyond liquid staking?
33:42 - What should Hyperliquid bulls be paying attention to?
39:43 - Sponsor break
41:31 - Hyperliquid ecosystem maturing
43:56 - Thoughts on upcoming team unlocks for HYPE
53:22 - Will there be a new points program or token burn for HL?
59:30 - Closing

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🔗 Guest Links 🔗

► Kinetiq website: https://kinetiq.xyz/
► Kinetiq on X: https://x.com/kinetiq_xyz
► Omnia on X: https://x.com/0xOmnia

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. Nomatic and DeFi Dad are angel investors in Kinetiq. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Sid Ramesh is the Product Lead for Crypto-Backed Loans at Coinbase.

In this episode, we explore Coinbase's newly launched product for ETH-backed loans, built entirely on Ethereum DeFi using Morpho on Base. We unpack exactly how these loans work, why they matter, and what this means for the future of onchain loans. Sid Ramesh brings an insider view into Coinbase’s broader vision for permissionless financial products built on decentralized infrastructure like Ethereum.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
7:15 - Understanding the DeFi mullet concept
9:10 - Benefits of Coinbase’s BTC-backed loans
11:25 - The utility of cbBTC
14:36 - Comparing DeFi-powered loans to TradFi loans
17:46 - Coinbase loans vs failed platforms of prior cycles
20:03 - Sponsor break
21:18 - Coinbase launches new ETH-backed loans
22:55 - Starting with ETH, but cbETH-backed loans soon
23:58 - 3 major benefits of ease, cost, and support
28:41 - Expanding to more collateral types in future
30:58 - Security and risks with Coinbase loans
33:44 - Why Coinbase builds on the Ethereum L2, Base
35:40 - Sponsor break
36:59 - Success of BTC-backed loans at Coinbase
39:28 - Use cases for Coinbase loans
42:12 - No repayment schedule
44:22 - Future of onchain lending and financial products
47:53 - Coinbase’s vision for “the everything exchange”
50:20 - Closing

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🔗 Guest Links 🔗

► Coinbase ETH-backed loans: https://www.coinbase.com/borrow
► Coinbase on X: https://x.com/coinbase
► Sid Ramesh on X: https://x.com/sidrmsh

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. Nomatic holds COIN while DeFi Dad and Nomatic both hold ETH. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Sonya Kim and Romeo Ravagnan are CoFounders of 3F Labs.

In this episode, we explore how 3F is pioneering the next generation of leveraged tokenized fund yield by bringing institutional-grade arbitrage strategies fully onchain. Sonya and Romeo break down how transparency, adjustable leverage thanks to bridge loans, and new legal frameworks will open the door for a new wave of professional capital entering DeFi while still offering the same tools to onchain retail investors.

Note: This podcast was recorded before Stream Finance blew up, otherwise we would have likely commented on it and asked related questions.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
6:07 - Sonya’s background at Steakhouse Financial
10:26 - Romeo’s background at Abraxas
17:33 - Appetite for institutional capital to come onchain
20:02 - Challenges and opportunities for looping in DeFi
24:21 - Sponsor break
25:37 - The mission behind 3F
33:31 - The rise of tokenized arbitrage funds
38:44 - Example of how 3F works
44:07 - Sponsor break
45:26 - Adjustable leverage for higher yield seekers
51:45 - Future asset classes to use 3F leverage
53:25 - Closing

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🔗 Guest Links 🔗

► 3F website: https://3f.xyz/
► Sonya Kim on X: https://x.com/sonyasunkim
► Romeo Ravagnan on X: https://x.com/3f_romeo

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic are angel investors in 3F. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

James Smith is Head of Ecosystem at the Ethereum Foundation.

In this episode, we unpack everything Ethereum is building right now, some of it driven by initiatives at the Ethereum Foundation. From breakthroughs in zk technology and privacy to a growing wave of real-world asset tokenization poised to bring trillions onchain, this conversation highlights why we remain laser-focused on Ethereum. Our guest, James, is among the best at bridging the gap between builders and listeners, breaking down what’s being built across the Ethereum ecosystem in simple, relatable terms.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
6:37 - James's background
10:06 - Philosophical differences that make Ethereum different
18:37 - Ethereum Foundation’s new focus vs legacy EF
24:31 - The incentives just make sense on Ethereum
27:55 - Sponsor break
29:11 - “The internet has no CEO," understanding decentralization
37:14 - All the ways Ethereum is cooking
39:30 - Building products for Wall St’s backend
40:24 - Why zk is an enormous breakthrough
44:20 - Sponsor break
45:40 - Privacy will be a feature for many on Ethereum
50:33 - Tokenization of RWAs on Ethereum is up only
52:22 - What the Fusaka upgrade means for all of us
54:12 - Future surprises coming from EF
57:40 - The most misunderstood thing about the EF
58:58 - Closing

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🔗 Guest Links 🔗

► EF website: https://ethereum.foundation/
► EF on X: https://x.com/ethereumfndn
► James Smith on X: https://x.com/james_gaps

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic both are long term ETH holders. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.

Ruca is Head of Growth and Giel (aka deepcryptodive) is Head of Risk Curation at kpk.

In this episode, we discuss the role of DeFi's risk curators, the individuals and teams responsible for assessing, pricing, and managing risk across DeFi lending markets and tokenized yield vaults. We talk about how risk curation has become both an essential service and a risky business of its own, as witnessed firsthand in Stream Finance's recent xUSD blowup.

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🔗 Essential Show Links 🔗

► Newsletter: https://the-edge.xyz
► Youtube: https://youtube.com/@DeFiDad
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/

------
The Edge Podcast Sponsor Resources

♦️ REDSTONE | THE LEADING MODULAR BLOCKCHAIN ORACLE

♉︎ TOROS | EXPONENTIAL GAINS WITH LEVERAGED TOKENS

🌅 NEUTRL | THE NEXT GENERATION OF CRYPTO-NATIVE YIELD

🌞 SOLSTICE | PERMISSIONLESS INSTITUTIONAL YIELD

⚔️ KATANA | DEEP LIQUIDITY & REAL YIELD

🥞 SYRUPUSDC BY MAPLE | DEFI'S PREMIUM YIELD ASSET

🏦 MANTLE | INNOVATING THE FUTURE OF ONCHAIN FINANCE

🐡 PUFFER INSTITUTIONAL | STAKING SOLUTIONS FOR SCALE

🌊 RIVER | A CHAIN-ABSTRACTION STABLECOIN SYSTEM

⚙️ GEARBOX PROTOCOL | ONCHAIN LENDING REIMAGINED

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Timestamps

0:00 - Intro
5:34 - History of kpk
9:38 - What is the job of a risk curator in DeFi?
13:53 - Distinguishing between permissionless lending markets and vaults
24:23 - What happened with Stream Finance and xUSD?
32:52 - Sponsor break
34:07 - How do risk curators make money?
38:07 - The role of risk ratings in DeFi
41:34 - Could risk curators run liquid strategies in their own markets/vaults?
46:24 - Sponsor break
47:43 - Risk of hard-coded fundamental oracles vs market price oracles
57:06 - DeFi must prioritize safety over higher yields
1:01:26 - kpk’s approach to risk curation
1:05:30 - kpk’s retail-facing DeFi product suite
1:07:11 - Closing

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🔗 Guest Links 🔗

► kpk website: https://kpk.io/
► kpk on X: https://x.com/kpk_io
► Giel on X: https://x.com/deepcryptodive

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All opinions expressed by hosts and podcast guests are solely their own opinions. Podcast guests and hosts may have positions in the assets or other matters discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.