Merlin Egalite

@merlinegalite

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1052 Followers

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Wallets and Fintechs will be the same category in 5 years.

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→ Why bundling? When products are bundled into the wallets, the UX is easier for users, there are fewer choices to be made, which results in better conversion. It's also easier to monetize (just take a rate on the swap or the interest generated). It’s win-win, both users and wallets benefit from this. If the user does not want to face the fee, they can still go directly to the protocol. This is the magic of Web3. It started with swapping first, as it’s the easiest to integrate. Next, it’s loan products. Soon, all wallets will offer native earn and borrow products. Morpho just kick-started the trend. TLDR Wallets will bundle more products into their interface to onboard more users and generate more revenue. The next phase is loans, and Morpho provides the infrastructure to make this happen.

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→ Why is it an important step for wallets in general? For a long time, users wanted diversity of choice and optionality. So, they used whatever wallet they could to connect to DeFi protocols or web3 projects to which they had affinity. This has changed. Wallets have understood that they're not just providing a simple noncustodial wallet; they're the gateway to the onchain world. One classic example is Coinbase's revamp of Coinbase Wallet to be the gateway to all Coinbase onchain products and more. The next growth target is those who aren't Web3 native and coming from Web2. They are usually less technical, or don't really care about having full optionality and discovering new projects every day. They just want something that is native in the wallet interface so that they can do what they need to do: swapping one asset for another, getting onchain yield, taking out an onchain loan on a Sunday from their phone, etc. → So, how do you solve this? Bundling products within the same simple interface.

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→ Wallets and Fintechs are converging. Web3 native apps and services are way too complicated for newcomers to navigate. To onboard the next millions onchain, there’s an urgent need to improve the UX and accessibility. At the same time, wallets must find a path toward usability and profitability to continue innovating and provide their users the best experience and safety. They need ways to provide value-add beyond just access to onchain apps in their products. Both @ledgerofficial and @trustwalletapp are leaders in non-custodial wallet spaces and both are exploring value-add services on top of their core offerings. It will be clear that wallets and fintechs will look very much alike in a few years.

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Morpho & @kiln team up to offer the best Earn product for millions of @trustwalletapp users. → DAI, USDC, USDT assets → Morpho as top-featured protocol → Full sovereignty from wallet to protocol Wallets will all offer native loan products, with Morpho in the back.

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What’s the location? 🙈

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Woke up polygoned today. Morpho reached $100m total deposits on @polygonchain, making it the 5th largest protocol there.

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Today is the best day to do focus work and just think.

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I’m not sure I’ve read the rules but could not see any other things

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Alright, Hyrox Paris was a lot of fun! 1:26:58 + 5min penalty (did an extra lap at run 3 lol or maybe because I crossed a line at sled push) Learnings: - Count your laps well (obviously) - Sled push and pull & wall balls were harder than I thought - I need to gain weight, especially for sleds - Pace is important not to blow up - Eat light in the morning - Penalties hit hard Will do it again for sure and aim for below 1:20 (and avoid penalties)

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Got a ticket for Paris Hyrox. Am I ready? ofc not.

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Why L1s become L2s (check Kydo's article https://x.com/0xkydo/status/1906050837186584983) mirrors why lending protocols switch to Morpho. TLDR Less operational, development & bootstrapping cost. At the same time, Morpho will become the base layer for onchain loans, offering security, efficiency & liquidity as a service. @seamless is a vgood example: they were spending $30k/m + human resources to maintain their Aave v3 fork. Now they're switching to Morpho Stack to cut that cost & focus on what matters. They're joining @sparkdotfi @moonwell Compound Indexcoop etc for those reasons.

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$100m+ of interest generated on Morpho. $8m of projected ARR for curators. Morpho makes building profitable businesses possible.

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yes i have, actually the original is not from chat gpt but our graphic designer :)

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TLDR1 Europe needs an inspirational long-term vision that leverages its uniqueness instead of repeating playbooks that don't work. TLDR2 Inspire, build, consolidate, iterate.

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9. The European tech ecosystem is fragmented, but drawing from the Rothschild banking dynasty, founders can follow the same methodology: leverage local knowledge while maintaining a multi-national outlook. 10. European companies can overcome this patchwork by buying companies in other localities to consolidate into one single company, as successful examples prove (klarna, deviant, etc.). European complexity if overcome, can become a moat against American/Asian competitors. 11. What to do: stop trying to fix what's broken; follow the flow instead of going against it; stop investing in many various small-scale companies but rather consolidate capital and resources around the ones that are truly successful, and buy back others smaller ones to do so; don't fight brain drain, embrace brain circulation instead; make regulation and compliance easier and finally leverage europe manufacturing heritage to capitalize on AI and computing.

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7. Europe lacks a collective mindset and cannot rely on a centralized approach to orchestrate this. Europe is not a homogeneous block; it's a patchwork of many typical countries. Hence, a decentralized approach must be used instead, led by Eastern European countries with "fewer preconceptions about what's possible, less attachment to legacy systems, and a natural orientation toward global markets from day one". 8. How to do this? This is, again, a coordination problem :) To put things in motion we need compelling stories & narratives to inspire (Project Europe is working on it). Europe must (a) act as if it's a developing economy with high potential growth, (b) find its strategic positioning (where we're good at) through decentralized actions, and (c) iterate until Europe finds its own PMF.

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