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Introducing Strata A risk tranching protocol built on , offering structured products on USDe and other Ethena-powered assets, designed to deliver risk-optimized crypto-native returns. Building on @ConvergeOnChain (Ethena x Securitize x @Arbitrum) Let's dive in 👇

109,543 views • 1 year ago •via X (Twitter)

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E184: Ethena CEO - Why Ethena Pay Feels Like Revolut, Not MetaMask G | Ethena is the founder and CEO of Ethena. He stumbled into DeFi in 2019 when a friend showed him MakerDAO - taking out a $5,000 loan against $10,000 of ETH with no one standing in the middle of the transaction. Six years later he's running Ethena, which scaled to $15 billion in stablecoin supply faster than anything else in crypto history, and his thesis is that a dollar with a yield in an app that doesn't feel like crypto is what finally brings 100 million new users in. Timestamps 0:00 Intro 2:37 Which Of Guy's Plans Fell Apart 5:37 Where Actually Are The Users Everyone Wants 7:10 What Got Guy Hooked On Crypto 9:20 PayPal vs Revolut vs Neo Banks 12:43 Partnerships: Variational Bitwise 13:36 Revolut vs Stablecoin Neo Banks 15:58 Is Switching To Neo Banks Really A 10x 18:00 EthenaPay, Explained Simply 21:21 Why Build Another Crypto Neo Bank 23:53 Will Crypto Banks Fight Over The Pie 25:55 How Ethena Wins Users By Helping Everyone 32:47 What Actually Makes Ethena Different 36:51 Ethena's Cashback System Revealed 38:32 How Ethena Cuts Fees 39:39 How Ethena Finds The Best Yield 45:16 Guy On Dealing With FUD 48:35 Why Guy Stays Quiet 49:29 Partnership: KAST 50:17 Ethena's KPI Targets 51:55 The Holy Grail For A Stablecoin Neo Bank 52:31 Partnerships: Jupiter Ethena 53:14 If Everyone Does The Same Thing, Who Wins 55:23 What's Next For Ethena After EthenaPay 56:36 Is EthenaPay Basically USDe 58:04 Closing Thoughts

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