Engineering the Dollar from ETH and Perpetuals, with Ethena Labs founder Guy Young

Lex chats with Guy Young - the CEO and Founder of Ethena Labs, the crypto infrastructure company building USDe which is the first-ever scalable stablecoin not reliant on existing banking institutions alongside a permissionless 'internet bond'. They discuss Ethena, a new protocol for the synthetic dollar, and the market dynamics around Ethereum and the concept of the internet bond. Young explains his background in distressed investing and the risks and mistakes commonly seen in financial services. They also delve into the mechanics of the perpetuals market and the funding rates, as well as the scalability and risks associated with Ethena. Young highlights the potential for the synthetic dollar to replace bonds in traditional bank accounts and the value of a crypto-native solution with different risk profiles. MENTIONED IN THE CONVERSATION Ethena's Website: https://bit.ly/3MDR1TdGuy's LinkedIn profile: https://bit.ly/46gDDM4 Topics: crypto, blockchain, defi, ethereum, perpetual swaps, stablecoin, synthetic dollar, steth, usde Companies: Ethena Labs, Ethena, Cerberus, BitGet, Binance, ByBit ABOUT THE FINTECH BLUEPRINT 🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2 🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV 👉 Twitter: https://twitter.com/LexSokolin TIMESTAMPS 1’20”: Strategic Investments: Distressed Assets and Value Opportunities in Financial Services 4’19”: Analyzing Collapse: The Underlying Mistakes Leading to Financial Institution Failures 6’22”: Market Missteps and Innovation: The Human Element in Financial Risks and the Allure of Crypto Markets 9’37”: Decoding Value and Innovation: The Dynamics of Ethereum Economics and the Future of DeFi Tokens 16’40”: Balancing Returns and Risks: Understanding Ethereum's Capital Market Structure and the Role of Perpetual Swaps 21’47”: Synthetic Leverage in Crypto Markets: Analyzing the Persistent Tilt in Funding Rates and the $30 Trillion Perpetuals Phenomenon 25’26”: Strategic Hedging with ETH: Understanding the Perpetual Market Mechanics and Identifying the Risks 28’30”: Exchange Relations and Risk Mitigation: Balancing Volume and Counterparty Exposure in Perpetual Markets 31’42”: Impact of Scale on Ether: Assessing the Price Dynamics of Synthetic Assets and Their Influence on the Underlying Market 36’23”: Exploring Synthetic Stability: The Mechanics of Crypto-Native Dollars and the Potential for Traditional Market Integration 40’50”: The channels used to connect with Guy & learn more about Ethena
Disclaimer here — this newsletter does not provide investment advice and represents solely the views and opinions of FINTECH BLUEPRINT LTD.Contributors: Lex, Laurence, Matt, Farhad, Mike, DaniellaWant to discuss? Stop by our Discord and reach out here with questions.