In today's episode we are joined by Arthur Hayes and Guy Young dive deep into the world of stablecoins and synthetic dollars. They discuss the counterparty risks associated with Ethena, a new synthetic dollar product, and how it aims to provide a decentralized alternative to traditional stablecoins like Tether and USDC. The conversation also touches on the challenges faced by algorithmic stablecoins, the potential impact of institutional investors entering the crypto space, and the exciting opportunities in the growing interest rate market within the crypto ecosystem. To close out Arthur shares where he thinks we are in the cycle. Thanks for tuning in!
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Join us at DAS (Digital Asset Summit) in London this March! DAS is the #1 institutional conference in crypto, hosted by Blockworks. 

Use the link below to learn more, and use EMPIRE10 to get 10% off your ticket! Sign up now because the price goes up every month. See you there! 

Learn more + get your ticket here: https://blockworks.co/event/digital-asset-summit-2024-london/home
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Timestamps:
0:00 Arthur's Stablecoin Musings
9:28 History of Tokenized Hedge Funds
11:47 Ethena Overview
16:34 Arbitrum Ad
17:20 Harpie Ad
18:33 Risks of Ethena
24:25 USDe Yield over Time
29:28 Defending a Cascade
35:05 Rebranding USDe   
45:35 Minting & Redeeming Process
48:14 Stablecoin Endgame
1:00:39 Where are we in the cycle?
1:09:09 Top Narratives this Cycle
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

The Future of Stablecoins & Synthetic Dollars | Arthur Hayes & Guy Young (Ethena)

Anatoly joins us to discuss why Solana is uniquely designed to utilize ever-increasing bandwidth and compute. We cover Solana's core thesis, how blockchains benefit from hardware improvements, the fundamental flaws of L2s, Anatoly's favorite applications, decentralization and more! Anatoly is a legend, you don't want to miss this one!

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Use code EMPIRE30 to get 30% off Permissionless 2023 in Austin: https://blockworks.co/event/permissionless-2023
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Timestamps:
00:00 Solana’s Core Thesis
10:15 The Scaling Bottleneck
13:33 Do All Blockchains Equally Benefit From Hardware Improvements?
17:32 Pros and Cons of Parallel Execution
20:47 The Realities of Decentralization
24:18 Solana’s Design Moat
27:45 Permissionless ad 
29:11 The Fundamental Tradeoffs of L2s
43:46 How Should Solana Approach Business Development?
47:47 The Role of Solana Labs and the Solana Foundation
49:22 The Compressed NFT Opportunity
53:06 We Need to Fix DAO Governance
54:48 Anatoly’s Metric of Success for Solana
57:33 Why Anatoly Hasn’t Left Crypto
59:38 Why an Average Joe Would Use Solana
01:01:14 Rapid Fire
  
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Resources

Endgame: Proof of Governance by Jon Charbonneau
https://www.youtube.com/watch?v=toPd1vgHjVE&t=0s

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.

Empire Transcript on Youtube

The Future of Stablecoins & Synthetic Dollars | Arthur Hayes & Guy Young (Ethena)

Solana’s Ultimate Vision | Anatoly Yakovenko