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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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Quick takeaways
- Building a crypto project requires navigating unique technological complexities and often involves years of iteration and community engagement to achieve product-market fit.
- Founder relationships with tokens can be double-edged, offering funding and governance perks while also risking misalignment with long-term project goals due to market fluctuations.
Deep dives
The Challenges of Building in Crypto
Building a crypto company presents unique challenges compared to traditional businesses, primarily due to the novel and complex technology involved. Founders often face a long development timeline, as the infrastructure within the blockchain space requires significant maturation, particularly for projects dependent on evolving platforms like Ethereum. For example, Stani, the founder of Aave, shared that his initial foray into crypto started in a university dorm, emphasizing the need for experimentation and iteration to refine products over time. The process of developing effective decentralized financial products often necessitates years of adjustment to meet user demands and align with the broader ecosystem.
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