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/3MDR1Td


Guy'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


 


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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, Daniella


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