Guy Young (Ethena founder) at TOKEN2049 Singapore:
"Yield isn't commoditized."
Why? Everyone can access the same yield sources, but not everyone trusts the same operators with their capital.
Risk management = the real moat.
You can copy the strategy. You can't copy trust.
$ENA
"Yield isn't commoditized."
Why? Everyone can access the same yield sources, but not everyone trusts the same operators with their capital.
Risk management = the real moat.
You can copy the strategy. You can't copy trust.
$ENA
