Phil Fogel ( 🦇, 🌳, 🍾)
@Philfog
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Crypto Fashion Icon Co-Founder @Corkprotocol, @weareflowcarbon, @Corner3VC
New York, NY
Joined November 2009
After nearly a decade of hands-on research, I have uncovered a new fundamental constraint in crypto protocol design: The #SwagTrilemma. Let’s dive in 🧵
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Debt that carries a B- rating currently have yields of around 7% or higher. If we held sUSDS to the same TradFi standards shouldn’t it be trading around $0.91 or do we think these ratings mean something else in this context?.
S&P has issued its first ever Credit Rating for a stablecoin system. Not an "SSA" but an honest-to-goodness TradFi Credit Rating. @SkyEcosystem now carries a B- (Stable) rating under the same methodology @SPGlobal uses for nonbank financial institutions. A true milestone.
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Curated vaults are on fire and this is only just the beginning!.
From under $150M to over $4.4B. That’s the leap curated vaults made in the past 12 months.28× growth.Vaults are now the fastest-rising asset class in DeFi. (Source: @Kiln_finance)
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A drop in Vegas revenue doesn’t means a recession is coming. It’s all just moved over to Solana!
🚨 BREAKING: Las Vegas just reported an 11% drop in tourism revenue; a stunning signal that a recession is knocking. Vegas is the canary in the coal mine. When people stop spending there, it means they’re cutting back everywhere.
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The greatest invention of the last 9 years and 364 days! .Happy birthday @ethereum.
Hershey and Mondelez are combining two of their top-selling products—the Reese’s peanut butter cup and the Oreo cookie—in a sugary marriage they say consumers have been begging for
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We will continue to see the tokenization of off-chain credit products (I hate the term RWA; ETH is equally real) progressing up the risk curve as non-degens seek better risk-adjusted yields. Proud of my friends at @centrifuge for this big next step!.
Some facts about tokenized JAAA:.- Managed by the same PMs behind the $25B ETF.- Enhanced cash with short duration and stable yield.- Fully onchain and programmable.- AAA rated, it’s in the name.- Fastest tokenized fund to $1B. Answer to the question "what's next after t-bills".
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.@Celo, the Ethereum L2 built for the real world and designed for fast, low-cost transactions worldwide, is live on Eco Routes and the Eco Portal. Any Celo app that integrates Eco Routes can enable stablecoin transfers across 9 major chains:
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A phenomenal thread on the development of DeFi credit markets. If you play yield games in DeFi I suggest you read this one.
Tweets like the below from @eth_everstake make it clear how misunderstood DeFi debt markets are. No, validators are not exiting to restake, change operators, or lock in profits. Lol. Lmao, even. As the stETH loopers know well, Pumpfun isn’t the only game in town right now… DeFi.
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RT @talkintokens: Tweets like the below from @eth_everstake make it clear how misunderstood DeFi debt markets are. No, validators are not e….
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Probably nothing!.
🚨 Breaking news: @GoogleCloud is integrating Self's proof-of-humanity ZKPs to bring new use cases powering AI adoption & Web3 innovation for human users. 🧵 Read more about how Google Cloud & Self are ushering in the era of data privacy ↓
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RT @robdogeth: It is use cases like this which highlights even in very low risk assets like stETH, there are still time to liquidity risks….
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Wow! What a time to be alive!.
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In one way or another, I've been working on institutional adoption of crypto for almost a decade. It finally feels like it's really here, and that we can start building DeFi for institutional adoption.
Excited to share that we have joined the @Circle Alliance Program, a global community of teams focused on bringing the world on-chain, powered by USDC!.
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RT @Jack_Unveil: I get into the world of Web3 entrepreneurship with @robdogeth, a serial founder who’s navigated the highs and lows of buil….
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Check out a full analysis of historical depegs I did together with @TheRealStone and @robdogeth:
cork.tech
Explore stablecoin types, historical depeg events, risks, and resilience—learn how Cork’s Depeg Swaps enable real-time risk pricing in DeFi markets.
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