Michael Bentley

Michael Bentley@euler_mab · 23 小时前观点输出

RT @homeDAO: Whom shall I send? And who will go for us? homeDAO cohort 3 - applications now open https://t.co/a8cW0e2rh7

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Michael Bentley@euler_mab · 14 天前观点输出

@AnaArsonist 🔥

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Michael Bentley@euler_mab · 22 天前赛道影响

@jaibhavnani @cocoahomology Simpler times. Good morning. https://t.co/XNtmuWcXPj

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Michael Bentley@euler_mab · 22 天前观点输出

@mnowakdesign I spend far too long worrying about things like this rather than finishing things, but hurts my eyes when things aren’t perfectly aligned

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Michael Bentley@euler_mab · 22 天前观点输出

@DonAlt get me in lil shid

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Michael Bentley@euler_mab · 22 天前政策影响

I doubt it, just a harsh less in business tbh. I read Peter Thiel’s book before I started Euler and again after I left, and it’s all in there tbh. Very hard to navigate the regulatory terror years though tbh. I do think Morpho have done exceptionally well, but had a little bit of second mover advantage and not the baggage some of us older Defi protocols were carrying.

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Michael Bentley@euler_mab · 22 天前观点输出

Oh I know. Honestly I can’t tell you how much the exploit set us back though. The things we had in motion just before that. The deals and partnerships we lost and never won back. I think DeFi lending would look very different today were it not for that. But it was it is. Life goes on. I gave it my all and it wasn’t enough.

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Michael Bentley@euler_mab · 22 天前观点输出

@cocoahomology @0x_mcfly About the dynamics or the follow?

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Michael Bentley@euler_mab · 22 天前观点输出

Very steep. It was especially challenging I found because the rules of the game kept changing under your feet. We started in a world with DAOs and 50% token supply giveaways to the community and ended during a period where none of that mattered any more and was more harm than good.

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Michael Bentley@euler_mab · 22 天前政策影响

I sincerely doubt the number is that high. Insane if so. But the point about using a low float high FDV token to strike deals for exclusive integrations still stands. People used to say to me all the time at Euler: “do more BD.” But lack of integrations almost always was nothing to do with BD efforts. Very few people we didn’t speak to during my time there. It almost always came down to money. “So and so are offering X millions for an exclusive integration, what can you do?” I assume most of those types of deals were done with tokens and not real $ because the numbers were often eye watering. And we had 1/100th of budget or less than competitors because of the depressed EUL token price. So we would always get excluded or pushed aside once someone else came in. Sometimes people talked to us enthusiastically one day and completely ghost us the next once they’d agreed a deal elsewhere. With the benefit of hindsight I think we should have tried to take Euler private and start again with the token. But hindsight is a wonderful thing. It wasn’t the same regulatory environment as we have now and there were lots of arguments against doing that. The point is that you really need a highly valued token to compete for liquidity and integrations in lending though. The tech is very much secondary to your ability to pay in the early years to bootstrap liquidity and integrations. It does make me wonder what will happen when all these pay to play token holders start to take profit after vesting ends or hedge out their exposure though.

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