six
@six
people are not excited that one of the biggest players in fintech is investing heavily into bringing its tens of millions of users onchain on an ethereum L2 - thought this was exactly what folks wanted?
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Dan Romero
@dwr.eth
1. It's good for crypto. Not sure why anyone thinks otherwise. 2. "bringing its tens of millions of users onchain" != having those users use a bunch of crypto apps and protocols. If the UX is focused on trading assets in a vertically integrated way (RH app, chain, DEX) then it's unlikely to have much of impact on actual number of consumers using crypto apps.
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six
@six
agree w both, robinhood users are not going to start doing anything onchain outside of the robinhood app my critique is i think people claim to want general "bringing people onchain" as an inherently good thing, but they still want it in a way that enables value capture for themselves - so would not be excited about RH developments even if it satisfies desirable conditions like onboarding to self custody, bitcoin ownership, defi mullets etc. rightfully so of course, people are building businesses that need to capture value in some form - just think a lot of messaging of the former is thus disingenuous
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john 🌀
@know
I think the fear might be that if Robinhood spin up their own chain and then roll it back for what they want then it might hurt crypto street cred overall or something?
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Garrett
@garrett
Agree. Just like most hyperliquid users who don’t use many other crypto apps or “consumer” apps Robinhood will probably end up looking more like a Hyperliquid in that they’re vertically integrated at the expense of composability (and decentralization)
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Joshua Salles
@omgbbqhax
lmao I use != in my sentences too! 🥲
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SQX
@sqx
Buy ₿ It’s nice. Everyone loves RH UX. And everyone complains about crypto UX. We should be cheering. 📣
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