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.Morpho 🦋's Midnight could become a machine for pricing trust. Paul Frambot 🦋: “There’s a module in the protocol that lets you express why you should be trusted.” “That could be collateral, but that could also be your identity, your receivables, whatever.” “A piece of code is not here...

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Bankless

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22,397 görüntüleme • 1 ay önce •via X (Twitter)

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David Seroy makes the case that bitcoin:native can become the lowest-counterparty-risk collateral in the world. “Digital gold” caps Bitcoin's upside. “Digital credit” doesn’t. Think mortgage-backed securities, then treasuries — except this time the collateral is Bitcoin, not trust in an institution. “That is one very viable use case of Bitcoin... without the counterparty risk of Michael Saylor.”
2:40

David Seroy makes the case that bitcoin:native can become the lowest-counterparty-risk collateral in the world. “Digital gold” caps Bitcoin's upside. “Digital credit” doesn’t. Think mortgage-backed securities, then treasuries — except this time the collateral is Bitcoin, not trust in an institution. “That is one very viable use case of Bitcoin... without the counterparty risk of Michael Saylor.”

Bankless

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Paul Frambot 🦋's bet: getting a loan should work like Visa for credit. Instead of one bank owning your pricing, thousands of lenders compete for you. Fresh off a $2B round, the Morpho 🦋 co-founder unpacks open credit with Bam Azizi on CEO Beat. Out now 🎙️
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Paul Frambot 🦋's bet: getting a loan should work like Visa for credit. Instead of one bank owning your pricing, thousands of lenders compete for you. Fresh off a $2B round, the Morpho 🦋 co-founder unpacks open credit with Bam Azizi on CEO Beat. Out now 🎙️

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"Finance is like essentially 50,000 different banks and credit unions that all have segregated infrastructure.” Morpho 🦋 cofounder Paul Frambot 🦋 on why crypto can reshape lending: “Ethereum is like one single database for the entire world, like one single computer for the entire world.” “Instead of going to a specific bank, you’re gonna come to the open blockchain … and then you’re gonna have the entire world quote you on your interest rate.”
1:15

"Finance is like essentially 50,000 different banks and credit unions that all have segregated infrastructure.” Morpho 🦋 cofounder Paul Frambot 🦋 on why crypto can reshape lending: “Ethereum is like one single database for the entire world, like one single computer for the entire world.” “Instead of going to a specific bank, you’re gonna come to the open blockchain … and then you’re gonna have the entire world quote you on your interest rate.”

a16z crypto

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For Paul Frambot 🦋, variable-rate lending fails the basic test of a true financial primitive: “If you have variable rate, what does it vary on?” “The answer is that it’s arbitrary. You rely on something to say what is the rate, which makes it not a primitive.” “A primitive does not rely on anything for its existence.” “Fixed rate, fixed term is the right primitive for financing. It is the true and the only true primitive.”
1:54

For Paul Frambot 🦋, variable-rate lending fails the basic test of a true financial primitive: “If you have variable rate, what does it vary on?” “The answer is that it’s arbitrary. You rely on something to say what is the rate, which makes it not a primitive.” “A primitive does not rely on anything for its existence.” “Fixed rate, fixed term is the right primitive for financing. It is the true and the only true primitive.”

Bankless

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Bill: “You can legally be a senator but also be a pastor? Is that true of every level of government? Could you be a president and also a pastor?” Raphael: “I don't know that it’s practical to be the president and be a pastor, but yeah, you of course.”
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Bill: “You can legally be a senator but also be a pastor? Is that true of every level of government? Could you be a president and also a pastor?” Raphael: “I don't know that it’s practical to be the president and be a pastor, but yeah, you of course.”

Thomas Sowell Quotes

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❗️«Not helping Ukraine is a huge risk for Europe» — Zelenskyy «I don’t think this is something that should be tested. If Ukraine is not helped, there is a risk that it may not hold out, and then Russia will move further. The price of such a mistake is very high — for Europe and for any state.» The President also noted that Ukraine is defending not only itself, but also European values.
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❗️«Not helping Ukraine is a huge risk for Europe» — Zelenskyy «I don’t think this is something that should be tested. If Ukraine is not helped, there is a risk that it may not hold out, and then Russia will move further. The price of such a mistake is very high — for Europe and for any state.» The President also noted that Ukraine is defending not only itself, but also European values.

🪖MilitaryNewsUA🇺🇦

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EXCLUSIVE: Morpho 🦋 CEO Paul Frambot 🦋 on how Morpho Midnight is new infrastructure for institutional private credit. This week, Morpho launched Midnight, which enables fixed-rate, fixed-term onchain lending, starting with one cbBTC/USDC market on Base across multiple maturities. This is unlike most DeFi today, where protocols like Aave and Compound set your risk, rate, and term using their formulas. This is not ideal for large institutions with their own risk appetite. Morpho 🦋 Midnight hands risk, rate AND term to the open market, so investors can set their risk appetite, and borrowers can apply to meet that in the marketplace. Lending on Midnight means buying a claim on future cashflows, where you pay 0.95 today, receive 1.00 at maturity. The difference (discount) is your rate as a lender. That's exactly how a zero-coupon bond works, the primitive bond markets are built on. Some other nuances that came out in the interview Prior fixed-rate protocols split liquidity into a pool per maturity, so markets stayed thin and most died. This is how a bond desk runs a book. Morpho aims to ensure liquidity isn't fragmented into individual pools. It offers source funds only at fill, and one balance sheet can quote fixed rates across all maturities at once. So you quote once in many places. The fees are capped in the code with settlement at 50bps a year, a lender fee at 1%, and governance can *never* raise them. Infrastructure that can't reprice you is infrastructure a treasurer can underwrite. Wall St is coming to these DeFi protocols For example, Apollo (roughly $940bn AUM) is contracted to buy up to 9% of MORPHO supply over four years. So I sat down with Paul Frambot, Morpho's CEO, days after his most ambitious launch yet. DeFi lending reached tens of billions without a single maturity date. Now we find out what it builds with one.
14:42

EXCLUSIVE: Morpho 🦋 CEO Paul Frambot 🦋 on how Morpho Midnight is new infrastructure for institutional private credit. This week, Morpho launched Midnight, which enables fixed-rate, fixed-term onchain lending, starting with one cbBTC/USDC market on Base across multiple maturities. This is unlike most DeFi today, where protocols like Aave and Compound set your risk, rate, and term using their formulas. This is not ideal for large institutions with their own risk appetite. Morpho 🦋 Midnight hands risk, rate AND term to the open market, so investors can set their risk appetite, and borrowers can apply to meet that in the marketplace. Lending on Midnight means buying a claim on future cashflows, where you pay 0.95 today, receive 1.00 at maturity. The difference (discount) is your rate as a lender. That's exactly how a zero-coupon bond works, the primitive bond markets are built on. Some other nuances that came out in the interview Prior fixed-rate protocols split liquidity into a pool per maturity, so markets stayed thin and most died. This is how a bond desk runs a book. Morpho aims to ensure liquidity isn't fragmented into individual pools. It offers source funds only at fill, and one balance sheet can quote fixed rates across all maturities at once. So you quote once in many places. The fees are capped in the code with settlement at 50bps a year, a lender fee at 1%, and governance can *never* raise them. Infrastructure that can't reprice you is infrastructure a treasurer can underwrite. Wall St is coming to these DeFi protocols For example, Apollo (roughly $940bn AUM) is contracted to buy up to 9% of MORPHO supply over four years. So I sat down with Paul Frambot, Morpho's CEO, days after his most ambitious launch yet. DeFi lending reached tens of billions without a single maturity date. Now we find out what it builds with one.

Simon Taylor

12,173 görüntüleme • 1 ay önce

"The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is evaluating the code. Which of this code is even valuable? You can have AI engineers writing beautiful code that could be wrong, that could have bugs in it, that could be vulnerable. Someone needs to review it. Make sure to have a human review at some point, especially critical code that is in the core of your system. On the product side is judgment around what needs to be built and evaluating. And similarly in design, you have to have judgment around, does it make sense in the broader design system. I think this judgment is the number one thing that humans are going to bring in an era of infinite productivity."
1:12

"The one thing that's going to be truly future proof is judgment. What is the biggest challenge when you have a thousand AI engineers writing code? AI slop. In an era when you can do everything, the question is which of these things matter. On the engineer side, it is evaluating the code. Which of this code is even valuable? You can have AI engineers writing beautiful code that could be wrong, that could have bugs in it, that could be vulnerable. Someone needs to review it. Make sure to have a human review at some point, especially critical code that is in the core of your system. On the product side is judgment around what needs to be built and evaluating. And similarly in design, you have to have judgment around, does it make sense in the broader design system. I think this judgment is the number one thing that humans are going to bring in an era of infinite productivity."

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🚨 NEW - Abby Phillip STRIKES AGAIN, saying ICE agents shouldn't wear masks because it's just a "risk" you have to deal with to be doxed, targeted and have your family attacked. Scott Jennings is having none of it. PHILLIP: That is a risk that every law enforcement officer in this country faces. JENNINGS: You think they SHOULD? PHILLIP: Other officers show their faces because they work for the people. That's a risk you take. JENNINGS: Yeah, well, I don't agree law enforcement in ANY agency should have to face the risk of their family being assaulted. PHILLIP: But the accountability piece of it can't be ignored! JENNINGS: Certain people in our community decided to take matters into their own hands. Democrat officials screaming 'they're the Gestapo!' What do you think that does to radicalize people? That is irresponsible, and it's not the fault of an ICE agent for that kind of rhetoric to be in our system! - Scott Jennings
1:50

🚨 NEW - Abby Phillip STRIKES AGAIN, saying ICE agents shouldn't wear masks because it's just a "risk" you have to deal with to be doxed, targeted and have your family attacked. Scott Jennings is having none of it. PHILLIP: That is a risk that every law enforcement officer in this country faces. JENNINGS: You think they SHOULD? PHILLIP: Other officers show their faces because they work for the people. That's a risk you take. JENNINGS: Yeah, well, I don't agree law enforcement in ANY agency should have to face the risk of their family being assaulted. PHILLIP: But the accountability piece of it can't be ignored! JENNINGS: Certain people in our community decided to take matters into their own hands. Democrat officials screaming 'they're the Gestapo!' What do you think that does to radicalize people? That is irresponsible, and it's not the fault of an ICE agent for that kind of rhetoric to be in our system! - Scott Jennings

Eric Daugherty

151,314 görüntüleme • 1 yıl önce

It’s true that both fitness and business require discipline, but it is very well possible that you could be disciplined in one area of life, and a slob in the other. There are obese CEO’s and there are broke bodybuilders, but your aim should be to become the best of both worlds.
0:27

It’s true that both fitness and business require discipline, but it is very well possible that you could be disciplined in one area of life, and a slob in the other. There are obese CEO’s and there are broke bodybuilders, but your aim should be to become the best of both worlds.

Robert Herjavec

17,543 görüntüleme • 8 ay önce

Question for Mark Carney: If this is not a shadow budget, why move tens of billions into arm’s-length corporations outside direct Parliament scrutiny? If the risk is truly transparent, why are Canadians being told to trust committees your own government controls? And if Karina Gould is supposed to be the symbol of accountability, are you seriously expecting Canadians to forget how Liberal-controlled committees work when the questions get uncomfortable? You snickered. You said “absolutely not.” Then you pointed to the same political machinery Canadians already distrust. The reporter asked whether debt and investment risk could be hidden from the House of Commons. You answered with “trust us.” That is not accountability. That is exactly why people are asking.
1:29

Question for Mark Carney: If this is not a shadow budget, why move tens of billions into arm’s-length corporations outside direct Parliament scrutiny? If the risk is truly transparent, why are Canadians being told to trust committees your own government controls? And if Karina Gould is supposed to be the symbol of accountability, are you seriously expecting Canadians to forget how Liberal-controlled committees work when the questions get uncomfortable? You snickered. You said “absolutely not.” Then you pointed to the same political machinery Canadians already distrust. The reporter asked whether debt and investment risk could be hidden from the House of Commons. You answered with “trust us.” That is not accountability. That is exactly why people are asking.

The Real Mr Bench

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“The Mets can afford to be like ’Luis Robert? This is the player he COULD be.” They’re able to take that risk.” 👀 Céspedes Family BBQ on why the Mets were one of the only MLB teams that could reasonably trade for Robert. (via Baseball Bar-B-Cast)
2:26

“The Mets can afford to be like ’Luis Robert? This is the player he COULD be.” They’re able to take that risk.” 👀 Céspedes Family BBQ on why the Mets were one of the only MLB teams that could reasonably trade for Robert. (via Baseball Bar-B-Cast)

Yahoo Sports

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There’s a time & place to be “mysterious.” The workplace is NOT that place, especially very early in your career. Advocate for yourself. Ask for what you need and if you’re someone’s superior, give your team credit for the work that they do!
1:55

There’s a time & place to be “mysterious.” The workplace is NOT that place, especially very early in your career. Advocate for yourself. Ask for what you need and if you’re someone’s superior, give your team credit for the work that they do!

ISaidWhatISaidPod

191,296 görüntüleme • 9 ay önce

Tradermayne states that SpaceX is a legitimate catalyst for people to cash out of risk assets they've held for years. "You could argue that SpaceX is a very legitimate potential liquidity event, that could lead to a lot of people who have made a ton of money on risk assets over the past handful of years to cash out into." Feat. Mayne
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Tradermayne states that SpaceX is a legitimate catalyst for people to cash out of risk assets they've held for years. "You could argue that SpaceX is a very legitimate potential liquidity event, that could lead to a lot of people who have made a ton of money on risk assets over the past handful of years to cash out into." Feat. Mayne

The Order Book

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It's not just your smartphone that could be listening in on you - your coffee machine could be capturing your morning chat or your doorbell could be delving into your gossip - but now the UK's data watchdog is cracking down on it.
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It's not just your smartphone that could be listening in on you - your coffee machine could be capturing your morning chat or your doorbell could be delving into your gossip - but now the UK's data watchdog is cracking down on it.

Good Morning Britain

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The oil market is about to break. Not in price. In availability. Jeffrey Currie 🆔++ on CNBC yesterday and the market still isn’t listening. “It’s not the price of oil that matters here. It’s the availability of oil.” A thread on why the next few weeks could be the most important in the oil market this decade. 🧵
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The oil market is about to break. Not in price. In availability. Jeffrey Currie 🆔++ on CNBC yesterday and the market still isn’t listening. “It’s not the price of oil that matters here. It’s the availability of oil.” A thread on why the next few weeks could be the most important in the oil market this decade. 🧵

Qasem Al-Ali

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