👾 GTM | PM crypto, neobanks, ai building @ChainSignalAi prev @fuel_network @scroll_ZKP @taraxa_project prev-prev M&A
Palo Alto
Joined September 2018
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same same but different?
crypto has the scalability trilemma, AI serving has the inference trilemma: throughput is capacity, latency is speed, cost is the bill.
these, in fact, collapse to the same question:
how big do you make the batch? – at Palo Alto, CA
as I'm transitioning more into ai-PM roles - or, rather, adding formal validation to the work i've been doing at @ChainSignalAi for the past few months,
i truly think that generalists/multipotentialites are set to win in the AI age bc feature scoping & validation is happening 10x faster, and UI prototyping tooling is becoming a commodity
taste is what will truly distinguish a good PM from a not-so-good one, with design acumen, user empathy, and understanding AI-evals becoming the makers or breakers
anyone else here in between careers/learning domains feeling me?? – at Palo Alto, CA
tokenized RWAs have crossed ~$39B, with BlackRock, Franklin, JPMorgan, State Street and DTCC all in
@PanteraCapital's September report found that permissioned products hold 59% of value but produce just 0.2% of the spot trade volume
what does it tell us exactly? the infra moment is real, butthe market structure isn’t there yet - let's see what's holding it back ⏬ – at Palo Alto, CA
demand for exposure is real, but it routes around spot:
RWA perps OI on DeFiLlama is $19.7B, ~57% of onchain RWA AUM, tokenized stocks swing ~1.5x more than the shares they track
>> institutions place assets in spot for yield, while trading moves to synthetics, where the depth is – at Palo Alto, CA
so what would unlock adoption?
1/ issuers should wire secondary liquidity at launch with market makers, permissioned AMM pools and instant stablecoin redemption.
2/ shared allowlists and portable KYC credentials let a buyer approved by one issuer buy from the next
3/ each asset needs one canonical deployment that bridges via burn/mint, not five wrapped copies.
4/ settle trades DvP in safe money like regulated stables or tokenized deposits.
5/ finally, have report turnover and utilization as metrics alongside AUM – at Palo Alto, CA
excited for this fireside today at the Open Source AI Summit, @build_planet been cooking!
2:40pm - 3:05pm Fireside chat between @matthew_d_white and @ilblackdragon Polosukhin on "Benefits and Risks of Open Models” – at Palo Alto, CA
open-source specialized models, are gaining so much traction rn, and enterprise will use both frontier and open-weights
cc @digitalocean @NVIDIAAI
where each chain’s RWA value sits, by issuer — Arrakis Research
arrakis.finance/tokenized-eq… – at Palo Alto, CA
OUSD reserve page is a live dashboard, not an audit. Bridge reports $736M in assets for 734M OUSD (100.27%): $92M cash, $642M in short-term T-bill funds
monthly attestations and CUSIPs were not posted yet >> until the actual report lands, OUSD's surplus is self-reported
for context, @circle discloses USDC data weekly, Deloitte has attested monthly since 2018 with CUSIPs and maturities, and most reserves sit in an SEC-registered BlackRock fund – at Palo Alto, CA
the broader stablecoin market is still a duopoly: USDT holds ~60% and USDC ~24% of ~$305B. OUSD sits at 0.24%
at the same time, @Visa settles stablecoins at a $20B annual pace and wins whichever coin prevails
Stripe owns the issuer and made OUSD the default in Stripe Treasury on Oct 6, so it needs that default to move real money off the launch wallets – at Palo Alto, CA
it's too early to judge OUSD's adoption, but the market it's entering is already captured: USDT and USDC hold ~84% of supply, and the rest is fragmenting across chains, bank tokens and yield dollars
what would it take to flip that script?
definitely not a longer partner list, but the actual money movements: outflows from Tempo launch wallets, card settlement in OUSD, Shopify balances and Coinbase withdrawals – at Palo Alto, CA