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North
01-21

i like this hypothesis. all stablecoin yield ends up on metaDEX as lp incentives, fee rebates, better execution.

sam.frax
@samkazemian
01-21
There really is no steelman, I’ve spent endless time thinking about it. The yield will eventually get distributed at the 2nd (distributors like Coinbase Earn) or 3rd layer (blue chip DeFi like Aave incentives). GENIUS banned 1st layer (issuer incentives) but not 2nd. Now banks
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