What It Takes To Build In Crypto | Stani Kulechov & Jack O'Holleran

Mar 24, 2025

Stani Kulechov, founder of the leading DeFi protocol Aave, and Jack O'Holleran, founder of Scale Labs, dive deep into the intricacies of building in the crypto landscape. They contrast the challenges of Web 3 versus Web 2, emphasizing the significance of long-term vision and community engagement. The duo also discusses the dual nature of tokens and the need for collaboration in a multi-chain ecosystem. Their insights include strategies for effective fundraising and the importance of balancing innovative goals with community expectations in this rapidly evolving industry.

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ANECDOTE

Empire's Pilot Episode

Jason Yanowitz launched the Empire podcast solo but struggled to gain listeners.
He strategically invited Stani Kulechov and Santiago Santos onto a "pilot" episode, ultimately leading Santos to become his co-host.

INSIGHT

Iteration in Crypto

Building crypto companies requires iterating on products and finding what users like, which can take years.
Stani Kulechov's experience with ETHLend pivoting to Aave exemplifies this.

INSIGHT

Web2 vs. Web3 Founding

Building in crypto presents unique challenges compared to Web2.
It combines traditional company building with tokenomics, decentralization, and community management, demanding expertise in multiple areas.

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Gm! This week Stani Kulechov & Jack O'Holleran join the show to discuss what it takes to build in crypto. We deep dive into how to build a great project in web 3 vs web 2, building long term vs short term narratives, are tokens productive, advice for founders & more. Enjoy!

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ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables an elastic, ever-expanding network of customizable chains.

Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available.

To learn more about ZKsync, visit http://www.zksync.io

Token.com is a social-first crypto platform transforming how people discover and trade through crypto content. The revolutionary in-feed trading turns complex crypto into intuitive investments, while content creators earn from every trade and projects amplify their stories through native tokens - creating a new era of social media-powered crypto discovery. Just scroll to watch and tap to invest. Download the app!

Get up to speed on the biggest stories in crypto each week. In five minutes.

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WalletConnect is the onchain connectivity network . If you’ve connected to a Web3 app, you’ve seen WalletConnect. It’s everywhere—an icon of trust in crypto, as recognizable as Visa at checkout.

The numbers speak for themselves: Over 220 million connections and 35 million users worldwide use WalletConnect to power their Web3 experience. @WalletConnect on X and Telegram or visit https://WalletConnect.Network

Timestamps:

(00:00) Building In Crypto

(05:55) Are Tokens Productive?

(07:52) Ads (ZKSync)

(08:52) Advice For Founders

(15:06) Ads (ZKSync)

(16:11) Building Long Term vs Short Term Narratives

(20:44) Fundraising In Crypto

(22:54) Ads (Token.com. Bitwise, WalletConnect)

Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.