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Stablecoins, Virtual Power Plants and Venture Investing With Smac
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Welcome back to The Gwart Show! Today, Smac, partner at Compound VC, joins us to talk about why stablecoins have become the dominant crypto narrative despite being "boring fintech," DePIN opportunities in energy and water networks, venture capital market structure issues with massive fund sizes, the lack of creativity in crypto development, and why most social crypto apps are features not companies.
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Follow our guest on Twitter: @0xsmac
Notes:
• Compound VC focuses on pre-seed/seed stage investments
• $100M checks at $3B valuations more like growth investing
• Stablecoins captured outsized narrative due to lack of innovation
• Virtual power plants represent distributed energy networks
• Crypto needs more non-crypto native talent for creativity
Timestamps:
00:00 Start
00:16 Who is Smac?
01:53 Market overview
03:25 Are stablecoins the killer use case?
06:09 Stablecoin are just FinTech
09:51 Let a thousand stablecoins bloom
13:16 Decentralization & stablecoins
16:04 Users don't care about centralization
21:47 Worldcoin
24:20 DePin
25:19 Virtual power plants
30:20 ElLipsis Labs
31:21 Water harvesting
34:17 Venture funding is too high
41:21 Funding NOT infrastructure projects
43:25 What's interesting?
52:23 Friend.Tech
1:01:24 Wrap up
👋 The Gwart Show is sponsored by Ellipsis Labs. Ellipsis Labs is building Atlas, the blockchain purpose-built for verifiable finance. You may know of Ellipsis Labs by their first product Phoenix, a fully on-chain orderbook DEX that’s done over 50 billion dollars in unincentivized volume. They are one of the strongest teams I know in crypto. If you’re interested in working for a mission-driven company, Ellipsis Labs is hiring engineers passionate about crypto and finance to work on Atlas. You can learn more and apply on Ellipsis Labs’ Twitter “at Ellipsis_Labs”. Don’t forget to check out Atlas too, @atlasxyz on Twitter.
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