Threadcast link:
@khaleelkazi/re-leothreads-3r8cgcwby8ucxc2vv
Recording:
DISCLAIMER: The following has been generated by AI (Claude-3) based on the publicly available recording of the livestream. Because the content is AI generated it may contain errors, so please keep that in mind when reading. Feel free to suggest corrections and/or add additional information/improvements in the comments. Read more: Introduction post for the AI Summaries project
The May 21st episode of the "WenSoonShow" brought together several prominent figures in the crypto startup space to discuss the unique challenges of building decentralized applications and platforms. The hosts, Khal and Eric, were joined by Mitch to dive into topics ranging from the difficulties of running a public crypto startup to the exciting potential of tokenizing real-world assets.
The conversation began with Khal and Eric reflecting on the immense challenges faced by crypto startup founders like Matt from Splinterlands. They noted that building a startup is difficult enough, but doing so in the public eye of the crypto ecosystem adds an extra layer of complexity.
"You're kind of like being a public company CEO while you're still a startup," said Khal. "So it's like you're going through the headaches of being a startup, but you're also doing it in public." This transparency means crypto startups' token prices are constantly fluctuating, adding significant volatility compared to traditional private startups.
The hosts emphasized that the highs of building in crypto are much higher, but the lows are also far deeper. "It's literally building a startup squared,". Despite the challenges, the panelists agreed that crypto founders who have survived more than a year or two must truly love what they do, as the headaches can be immense.
One of the key benefits of the crypto space that the group discussed is the ability for retail investors to access startup investments that were previously restricted to accredited or institutional investors.
"Crypto has opened up this entire world of kind of startup investing to the average retail investor," said Eric, noting that this brings both the ups and downs of early-stage investing. The panelists highlighted examples like Starlink, where private investors were able to get in early, while regular investors were locked out.
Khal pointed to his own experience investing in projects like THORchain pre-launch as an example of this new accessibility. "Buying that under 40 cents and then just believing that the team was going to deliver on this grand vision, you know, was akin to buying into some kind of startup," he said, noting that it turned out to be one of his best investments.
Looking to the future, the group discussed the growing narrative around tokenizing real-world assets (RWAs) as a potential driver of the next crypto bull market. Khal, Mitch, and Eric aLL expressed excitement about the potential for RWAs to bring more liquidity and accessibility to traditional asset classes.
"Personally, and probably 60-70% of my portfolio is made of real world asset tokens or projects," said Mitch. He noted that while these are still early days, there are already over 10 RWA projects with real-world use cases and regulatory frameworks in place, positioning them for potential growth.
The panelists highlighted how platforms like LeoDex are well-positioned to benefit from the rise of RWAs, as the cross-chain infrastructure and decentralized exchange capabilities enable easy access to these new tokenized assets. They see RWAs as a logical next step in the "democratization of access" that technology has enabled in recent decades.
The conversation also touched on specific updates and improvements coming to LeoDex, the decentralized exchange built on the LEO ecosystem. Khal discussed plans to make premium users more visually distinct in the platform's thread discussions, as well as the introduction of a one-year subscription option and expiration notifications for Premium members.
Additionally, the group discussed the future of the WLEO-ETH liquidity pool, which has become less valuable as other Leo liquidity pools have emerged. The team is considering moving the pool's incentives to the Leo-Cacao pool on LeoDex, which better aligns with the platform's value capture model and flywheel.
Overall, the AMA provided a candid look at the challenges and opportunities facing crypto startups, as well as a deep dive into the latest developments within the Leo ecosystem. The panelists' insights highlighted the unique dynamics of building decentralized applications and the importance of sustainable business models in driving long-term growth.
