Conversation

Do Kwon 🌕
@stablekwon
2/ The centerpiece of modern finance is the savings account. Most households store 90%+ of their assets in savings, and fixed income instruments anchor the balance sheets of institutions & money managers. Aping is fringe - savings is mainstream.
1
145
Do Kwon 🌕
@stablekwon
3/ Crypto today does not have a reliable savings protocol. Crypto yield is either denominated in volatile assets (foodcoins), offer volatile yields derived from money markets, or are centralized and blackbox.
2
108
Do Kwon 🌕
@stablekwon
4/ Stable & attractive yields denominated in the dollar, and composable in smart contracts is the holy grail of cryptocurrency. Holding crypto in a double digit yielding savings account is not a venture bet. It's commercial suicide not to.
1
120
Do Kwon 🌕
@stablekwon
5/ For fintech competitors, sitting out on Anchor when #chai is offering double digit yields for users is commercial suicide. For
@Fidelity
, offering < 1% MMFs vs Anchor is commercial suicide. For DeFi, building on yieldless stablecoins vs aUST is community suicide.
1
89
Do Kwon 🌕
@stablekwon
6/ An important challenge for Anchor will be mobilizing the first few fintech platforms to pull the trigger. The
@terra_money
team is well positioned to speak the fintech lingo given we've built a few of these things before. Go to market is "Stripe for savings"
3
113
Do Kwon 🌕
@stablekwon
7/ The ecosystem that enables the creation of the first reliable savings protocol is going to win, period. A million developers will rush to build on the ecosystem(s) that secures assets for a hundred million households.
2
110