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The Rate of Innovation in Cryptocurrencies
The rate of innovation is quite the right metric there to go with the interest rates going up. The real advantage of staking derivatives is they are basically more or less equivalent to eth in D5 from like the perspective of most through D5. And so I think similarly, like, we could probably see a similar thing with these tokenized treasuries or something like flux USDC where, hey, if I'm using this as collateral to trade on some decentralized purpose menu, I don't have to sacrifice the risk free rate in order to trade perps. So instead these rates actually sort of compose with each other and complement each other.