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@gdog97_ pushes back on whether the world needs another crypto bank by pointing out the entire category barely has any users yet
"Everyone always asks that with any good idea. Did we need another stablecoin, or another yield bearing stablecoin two years ago? Did we need another Dex six months ago? There aren't that many great ideas within the space, so naturally when there's a good one, people flock and try to compete"
"The existing products out there have literally tens of thousands of users. If you compare that to a localized fintech sitting in just one country in South America, it's completely irrelevant. We're trying to access users that would never log into MetaMask and come on chain, and meet them where they are with an experience they're used to"
"One of the most important pieces to get right is can you produce a structurally higher return on the dollars within the app. The highest cashback on the card, the highest yield in the account. That's a structural moat, and that's the area
@Ethena has excelled over the last two years"