Summary

In this episode, Clouted from ETH Strategy speaks with Peter Abilla and breaks down how they are trying to build an autonomous, on-chain “investment bank” for Ethereum. He walks through how Michael Saylor’s use of convertible notes inspired their structure, why volatility is the raw material for the strategy, and how the protocol aims to grow a large ETH-denominated treasury over time. We talk about execution risk, product market fit, and why everything has to be transparent and market driven. Clouted also shares his core bet that ETH will trend up over the long run and how ETH Strategy wants to package that view into a set of on-chain products powered by volatility, leverage, and clear governance.

Takeaways

— ETH Strategy’s goal is to become a decentralized investment bank built around Ethereum.

— The design borrows ideas from Michael Saylor’s convertible notes playbook and applies them on-chain.

— Volatility is not a bug, it is the core input the protocol tries to monetize.

— The protocol wants to open up volatility and treasury-style strategies to regular DeFi users.

— Execution risk, both technical and organizational, is one of the biggest challenges.

— The core thesis is that ETH appreciates over time and the system is built around that long-term trend.

— Radical transparency is required so depositors can see and judge every move the strategy makes.

— ETH Strategy aims to keep shipping new on-chain financial products around ETH and volatility.

— The long-term vision is a large ETH treasury and growing earnings per share for the STRAT token.

— Market signals, not committees, should guide how the protocol evolves and allocates capital.

Chapters

(00:00) Introduction to ETH Strategy

(01:18) Understanding the protocol’s foundation

(06:04) TradFi playbooks versus DeFi-native design

(09:50) Mechanics of ETH Strategy’s treasury

(15:15) The vision behind ETH Strategy

(19:45) Current treasury holdings and future outlook

(21:37) Governance, control, and strategy shifts

(24:10) Finding product market fit in crypto

(27:30) Why transparency matters in vault strategies

(27:54) Core assumptions behind ETH Strategy

(30:34) Understanding execution risks in DeFi

(32:29) The role of volatility in ETH strategies

(34:40) Evaluating Ethereum Layer 2 environments

(38:47) ETH as a long-term store of value

(40:59) Innovating ETH strategies for better yield

(46:53) Vision for ETH Strategy over the next 12–24 months

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See other Episodes Here. And thank you to all our crypto and blockchain guests.

Summary

In this conversation, Alex Miller from Stacks Labs discusses with Peter Abilla the evolution of Bitcoin and the Stacks ecosystem. He shares his journey into Bitcoin, emphasizing its role as a competitive force against fiat currencies and the importance of decentralizing trust. The discussion covers the unique features of Stacks as a Layer 2 solution, its growing developer ecosystem, and innovative applications like dual stacking that allow users to earn Bitcoin. Miller also highlights the importance of user experience and institutional participation in the Stacks ecosystem, concluding with the vision of Stacks Labs to activate the Bitcoin economy. In this conversation, Alex Miller discusses his approach to leadership as a CEO, emphasizing the importance of prioritizing tasks and fostering a collaborative work environment. He explores the balance between professionalism and maintaining a unique culture within the crypto space, particularly in relation to Bitcoin and Stacks. The discussion also covers key performance indicators for measuring success, the role of Stacks Labs in supporting developers, and the significance of framing crypto projects as small businesses. Miller shares insights from his experience testifying in Congress and outlines his vision for the future of the Stacks ecosystem, highlighting the need to unlock Bitcoin liquidity for decentralized finance.

Takeaways

Bitcoin serves as a competitive force against government fiat systems.

Decentralizing trust is the true innovation of Bitcoin.

Stacks aims to enhance Bitcoin's capabilities without compromising its security.

The Stacks ecosystem has a rapidly growing developer base.

Dual stacking allows users to earn Bitcoin while participating in DeFi.

Stacks is unique in its mining process, linking it directly to Bitcoin.

The Stacks ecosystem supports a diverse range of applications.

User experience is crucial for the adoption of decentralized systems.

Institutional participation is growing in the Stacks ecosystem.

The vision of Stacks Labs is to activate the Bitcoin economy. Try and not let other people prioritize my day.

Fast cycle times are important for iteration.

You're like a bus driver, keep the bus pointed in the right direction.

Be obsessed about the strategy and top level stuff.

Professionalizing is a good thing, but avoid being corporate.

We need a market structure bill to support good projects.

It's a mixture of competition and collaboration among Layer 2s.

Our main role is to build the blockchain and support developers.

Testifying in front of Congress was a crazy experience.

We have more small businesses in Bitcoin than any other ecosystem.

Chapters

00:00 Introduction to Bitcoin and Stacks Ecosystem

03:04 The Appeal of Bitcoin and Decentralized Trust

05:52 Understanding Stacks: A Layer 2 Solution for Bitcoin

09:07 Comparing Stacks with Other Bitcoin Layer 2 Solutions

11:52 Building a Developer Ecosystem on Stacks

15:06 Innovative Applications in the Stacks Ecosystem

17:59 Dual Stacking: A New Approach to Bitcoin Yield

21:02 User Experience and Institutional Participation in Stacks

24:05 The Vision and Growth Strategy of Stacks Labs

25:44 Prioritizing the Day: A CEO's Approach

27:54 Professionalism vs. Corporate Culture in Crypto

31:08 Measuring

Follow me @papiofficial on X for upcoming episodes and to get in touch with me.

Watch these interviews and subscribe on Youtube Block by Block Show.

See other Episodes Here. And thank you to all our crypto and blockchain guests.

Summary

In this conversation, Peter Abilla interviews Alex Shevchenko, head of Aurora Labs and a key developer of NEAR Protocol. They discuss the impressive growth of NEAR Intents, its innovative approach to cross-chain interoperability, and the importance of user experience in crypto transactions. Alex explains how NEAR Intents differentiates itself from traditional bridges and centralized exchanges, emphasizing the need for a seamless user experience. The conversation also touches on NEAR's market share growth and distribution strategies, highlighting partnerships with wallets and other platforms. In this conversation, Peter Abilla and Alex Shevchenko delve into the complexities of the crypto landscape, focusing on security risks, user experience, and the evolving role of technology in the industry. They discuss the importance of simplifying communication for broader adoption, the dynamics of wallet providers, and the future of Near Intents in expanding financial use cases. The integration of AI with blockchain is also highlighted as a significant trend shaping the future of commerce and technology.

Takeaways

NEAR Protocol has achieved significant market share in cross-chain infrastructure.

Chain signatures are a key innovation for NEAR's interoperability.

User experience in crypto is crucial for adoption.

NEAR Intents operates like a decentralized exchange.

The complexity of blockchain transactions should be hidden from users.

Partnerships with wallets are essential for distribution.

The growth of NEAR Intents has been organic and consistent.

Decentralization offers security that centralized exchanges cannot guarantee.

The biggest assets in crypto are often not wrapped assets.

User stickiness to wallets can drive transaction volume. Security risks in crypto transactions are significant and must be addressed.

User experience is paramount in the crypto space, focusing on peace of mind.

The crypto industry needs to shift from technology jargon to user-centric messaging.

Simplifying complex concepts can lead to broader adoption of crypto technologies.

Wallet providers often prioritize fees over user choice, impacting user experience.

Business development agreements can influence user decisions in crypto transactions.

The future of Near Intents includes expanding financial use cases beyond spot trading.

AI integration with blockchain presents new opportunities for decentralized applications.

Decentralized Confidential Machine Learning (DCML) is a promising development in AI.

The synergy between AI and blockchain can lead to innovative solutions in the market.

Chapters

00:00 Introduction to NEAR Protocol and NEAR Intents

05:06 Understanding Cross-Chain Interoperability

10:55 User Experience in Crypto Transactions

16:41 NEAR Intents vs. Traditional Bridges

22:38 Market Share Growth and Distribution Strategies

29:39 Navigating Security Risks in Crypto Transactions

31:14 The Importance of User Experience in Crypto

32:34 The Shift from Technology to User-Centric Messaging

34:06 Simplifying Complex Concepts for Broader Adoption

35:44 Understanding Wallet Provider Dynamics

38:24 Business Development Agreements in Crypto

41:10 Future Directions for Near Intents

43:57 Expanding Financial Use Cases in Crypto

46:51 AI and Blockchain: A Synergistic

Follow me @papiofficial on X for upcoming episodes and to get in touch with me.

Watch these interviews and subscribe on Youtube Block by Block Show.

See other Episodes Here. And thank you to all our crypto and blockchain guests.