The Milk Road Show

One of the Most Profitable Crypto Projects Right Now (And What’s Next) w/ Rune Christensen

15 snips
Apr 7, 2025
Guest
Rune Christensen
Rune Christensen, founder of Sky and former innovator at Maker, dives into the booming crypto world. He highlights how Sky is generating massive profits and outpacing competitors through unmatched capital efficiency. The discussion delves into the intricate dynamics of decentralized stablecoins, comparing them with centralized counterparts. Christensen introduces innovative strategies like the buyback program and the transformative role of AI in finance, all while painting an exciting vision for the future of DeFi.
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INSIGHT

Sky's Revenue Model

  • Sky's substantial revenue comes primarily from returns on its collateral portfolio, largely composed of USDC.
  • A significant portion of USDS in circulation doesn't earn the Sky savings rate, boosting Sky's profit.
INSIGHT

Stablecoin Categories

  • Rune Christensen categorizes Tether (USDT) and Circle (USDC) as centralized stablecoins focused on regulation and adoption.
  • USDS is a decentralized stablecoin prioritizing savings rates and a robust, transparent backend.
INSIGHT

Capital Efficiency

  • Sky boasts greater capital efficiency than Circle, despite its large budget.
  • This superior efficiency stems from the "breakage" phenomenon and the innovative Star system.
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