Full post here:

nascent.xyz/idea/yup-open-social-aggregation

We support @nir.yup.io, Vernon, and the @yup.io team in building a bridge from siloed content to a vibrant, free-flowing, and adaptable open social web

If you're considering joining us, the answer is: YUP!

Yup also expands monetization opportunities

Beyond ads, open social platforms offer direct revenue options, such as tips via community currencies, referral fees, interactive elements, and content creation rewards

Yup will be at the center, aligned with the interests of creators

Yup's benefits extend beyond open social platforms, enabling creators to spread their content and reputation across all social media

It positions Yup as a true hub for digital identity and content aggregation, helping creators link their identities and build cohesive audiences

Enter Yup: the social aggregator

Just as 0x & 1inch unified DeFi liquidity, @yup.io aims to unify social liquidity

Creators link their identities and publish across platforms, increasing the availability of quality content and easing experimentation with new networks

However, today's reality is different

Most of the content we follow still lives on platforms like Twitter, Instagram, TikTok, and YouTube

Open social protocols haven't reached critical mass, and fragmentation makes it hard for creators to build cohesive identities and audiences

Web2 social infrastructure led to $Ts in economic activity

Now, it's being rebuilt w protocols like Farcaster, Lens, ENS, XMTP, OpenRank & Zora

Open social infrastructure can enable new social experiences, providing users & creators with more choice

Crypto and web3 are unbundling the web, rebuilding it with open protocols

We've seen this in DeFi with open, composable, and resilient financial infrastructure

Now, this transformation is happening with social platforms, reshaping how we create, consume, and connect

I'm excited about where we're heading and think we should both celebrate and continue to explore and push at the edges

But let's make sure we continue to have open conversations about the new risks and heightened stakes

🫡

The tighter linkage sUSDe creates between demand for leverage on CEXs and rates across DeFi is incredibly powerful and represents a major inflection point in the industry

Along with the BTC ETFs (hopefully followed soon by ETH ETFs), we're entering a significant new phase

This isn't without risk though!

When funding rates on CEXs start coming down from their dizzying heights, there's going to be unwinding across the board

This is likely to create a stress test on these markets and supplies of stablecoins that were being deposited in them

Over time, I would expect significant adoption of these isolated lending markets with lots of looped borrowing, bringing the rates paid to DAI, GHO, or LUSD depositors in such pools much closer to the sUSDe yield rates

And just wait until Morpho gets going with Morpho Blue and some MetaMorpho vaults for DAI deposits and sUSDe collateral! Anyone can do it, but there are probably some experienced risk managers already working on this...

Right now, all the liquidity is concentrated in a single bucket, resulting in 99% utilization at a similarly high collateral factor.

But if depositors wanted to reduce their risk and demand more collateral per DAI borrowed, it seems likely sUSDe depositors would still be happy.