Brandon Kumar of Layer3 joined us for a founder series. Who better than a founder to ask fellow operators what it takes to build companies? This is episode one of many to come. Let’s go.Running a successful crypto company takes more than technical know-how; it requires understanding the human elements that bring an organisation to life. In the first episode of our operator-to-operator series, I explored this with Matt Katz from Caldera and my co-host Brandon from Layer3.What makes this conversation unique is the look behind the scenes at Caldera. Matt's journey from Stanford to CEO gives a compelling view of modern crypto entrepreneurship. Unlike founders chasing the 2022 bull market, Matt focused on building something valuable—blockchain deployment through standardisation and accessibility.Caldera's modular approach has reduced blockchain deployment costs by two orders of magnitude while maintaining security. Major projects like Apecoin, Manta, Treasure, and Zerion trust Caldera's infrastructure, proving its reliability.Matt's reflections on managing a diverse team and balancing a “high-performance sports team” mindset with respect for individuals are lessons for any startup.If you're curious about building a crypto company—from tech to team—this episode is worth your time.Key Moments: 00:00 - The Vision Behind Caldera 02:56 - The Journey of a Founder 05:52 - Operating Lessons in a Turbulent Market 09:13 - Building a High-Performance Team 12:06 - Understanding Caldera's Business Model 14:56 - Cost Reduction in Blockchain Launches 17:52 - Future Growth and Market Strategy 24:08 - Integrating New Technology and Infrastructure 25:05 - Vision for Caldera in 2034 26:31 - Navigating the Fundraising Landscape 29:20 - Maximizing Investor Relationships 32:44 - Co-Founder Dynamics and Decision-Making 36:29 - Learning from Competition and Market Adaptation 40:21 - Operational Rhythm and Team Management This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

Fed up with missed opportunities because your crypto is scattered across different chains? In this episode, Vaibhav Chellani, co-founder of Socket, shares his vision for a future where blockchain fragmentation is no longer a barrier.From pioneering ZK rollups before they were mainstream to building Socket, Vaibhav tackles the big issues facing crypto today. We discuss why bridge aggregation isn't the solution, how AI agents could soon make on-chain trades seamless, and why the real conversation isn’t about appchains vs general-purpose chains, but about who controls the state.Socket is on a mission to make crypto as easy as using a credit card—forget about which chain you’re on or how to bridge assets. Hear why 400+ projects, including Coinbase Wallet, MetaMask, and Synthetix, are already using Socket's infrastructure.Tap into this episode to imagine a world where crypto feels intuitive, unified, and hassle-free.Key Moments: 00:00 - The Future of Front-Ends and AI Agents 03:02 - Chain Abstraction: A User-Centric Approach 05:55 - Scaling Ethereum: The Role of Rollups 09:10 - Building Socket Protocol and Chain Abstraction 12:04 - Bungee: A Marketplace for Cross-Chain Swaps 14:57 - The Mechanics of Bungee and Socket 17:46 - The Value Chain in Cross-Chain Transactions 21:06 - Permissionless Solutions and Market Dynamics 30:09 - Market Structure and Counterparty Dynamics 34:21 - Understanding Chain Abstraction and Its Implications 36:47 - Exploring Modular Auto Flow Auctions (MOFA) 40:15 - AI Agents and User Experience in Crypto Transactions 45:06 - The Future of Cross-Chain Interactions and Magic Accounts 52:23 - Solana vs. Ethereum: Perspectives on Blockchain Diversity 59:08 - The Shift Towards Chain Abstraction and User-Centric Solutions This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

Larry Cermak, CEO of The Block, joined us for a frank conversation about crypto's evolution. He played around with BTC to buy NBA accounts to watch basketball and got hooked on understanding how it all worked. Later, he turned down Binance and missed ~300x gains on BNB. Fast forward to 2023, and he was handling layoffs and M&A as the CEO of the leading research and news company in the industry. Larry's journey mirrors crypto's maturation.In this episode, we get real about:- Why running a crypto project in 2024 is "pure suffering"- The death of 100x opportunities (unless you're gambling on memecoins)- How Ethereum maxis are repeating Bitcoin maxis' mistakes with Solana- The real problem with the "50M Americans in crypto" stat- Why UI/UX still matters more than elegant technology- The brutal reality of private market valuations- Predictions for crypto under different presidencies- Essential advice for analysts: become obsessed, find your niche, master SQL- Tips for developers entering crypto in 2024Larry lays it all out—how crypto has become more corporate, how DeFi and Layer 1s are facing tougher competition, and what it takes to get noticed and funded. He also shares practical advice for aspiring analysts, emphasising the importance of building a strong Twitter presence to grow professionally and open doors in the industry.If you've ever wondered what it's like to navigate the trenches, this episode is packed with real talk and a glimpse into why Larry keeps building despite the challenges. Don't miss it!Follow Larry Cermak on Twitter: @lawmaster Follow the host on Twitter: @desh_saurabh This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

Fresh from hitting $18M in daily volume, Chainflip CEO Simon Harman delivers a masterclass in building crypto infrastructure. In this raw, technical conversation, he dismantles popular narratives around Bitcoin L2s and reveals what it actually takes to move BTC across chains.After spending 4 years solving complex cryptographic challenges while others made millions from JPEGs, Simon shares hard-earned insights about building real utility in crypto. From battling with validator communications to reimagining market design, this episode is a deep dive into the unglamorous work of building cross-chain infrastructure. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

Mika Honkasalo, an investment partner at Equilibrium Labs and former basketball analytics expert, shares his incredible journey from sports to crypto innovation. He dives into the complexities of DeFi, revealing how his liquidity mining calculator became essential during the DeFi summer. Mika ignites debates between Ethereum and Solana, emphasizing speed versus latency in blockchain solutions. He introduces the concept of 'concentric circles' for growth in crypto and highlights the power of global hardware distribution, showing how decentralized finance can truly revolutionize user experiences.

Sreeram Kannan from EigenLayer joins us to discuss the evolution of human coordination mechanisms and the role blockchains play in their transformation. In this first episode since the token’s release, he discusses what attracted him to the industry, the challenges in bootstrapping trust and how AVSs play a role within it. According to Sreeram, societies evolve with their systems of forming commitments. Gold, legislation and economic policy in global monetary systems are built around commitments. But how do you scale that to the size of the internet? This is what Sreeram discusses in today’s episode. Tune in for a simple, distilled explanation of the EigenLayer ecosystem. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

In this episode of the DCO Podcast, we sit down with Arthur Cheong, founder of Defiance Capital. We explore the concept explore the contrast between liquid and venture investments in crypto. With venture capitalists fiercely competing for private deals and driving up valuations before projects go public, the less crowded liquid markets often offer a smarter and more flexible option. Arthur shares how he navigates these opportunities and touches on the unique advantages of investing in Asia. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

Before we begin…Sid and I are sorting out our schedules for Token2049 in Singapore. I’ll also be on a panel at Breakpoint. We’re excited to connect with researchers and founders working on the cutting edge. If you’re around, respond to this email and drop us a line. We’d love to meet up in person. JoelHello! In this episode of the DCO Podcast, Rand Hindi, CEO and co-founder of Zama, presents a thought-provoking discussion on the transformative power of Fully Homomorphic Encryption (FHE) and its potential to revolutionise the future of privacy, blockchain, and the internet itself.Rand’s first company was Snips, an AI company for voice processing. Sonos, a listed audio equipment company, acquired it. He advised the French government on AI policy and co-authored a paper analysing AI's impact. His prediction from 2017 that AI would replace 10% of jobs, leave 50% unchanged, and augment 40% of jobs by increasing productivity seems accurate in today’s AI-dominated landscape.A major focus of the episode is the groundbreaking potential of FHE, a technology that allows computations on encrypted data without exposing it. By encrypting transaction details end-to-end, FHE eliminates the opportunity for front-running and other manipulative behaviours, thus paving the way for truly private and secure financial systems.Rand explains how Zama has addressed the major challenges traditionally associated with FHE: speed, usability, and scale. Zama’s technological advances have made FHE 100 times faster and integrated it into existing developer tools, making it accessible to developers without needing a deep understanding of cryptography. A key breakthrough discussed in this episode is Zama’s work in reducing the size of FHE-encrypted data. What used to expand data sizes by 20,000x has now been compressed to just 50x. With more improvements coming, this can be brought down to 10x, making it viable for use on Ethereum and other blockchain platforms. Tune in for the latest on privacy, a fully encrypted internet and a breakdown of FHE.Recovering from fever,Saurabh Deshpande This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.decentralised.co

In this conversation, Pacman, the founder of Blur and Blast, an innovator in the crypto and NFT sphere, dives into the evolution of NFT marketplaces and Layer 2 solutions. He recounts his journey from Teespring to launching Blur, disrupting the NFT space dominated by OpenSea. Highlighting the need for trader-focused platforms, Pacman discusses current market dynamics and the crucial role of liquidity. He speculates on the future of NFTs, emphasizing the importance of first principles in creating effective reward systems.

Tomasz Tunguz, a seasoned venture capitalist with over 15 years of experience, dives into the evolution of venture capital, focusing on Web3. He emphasizes that brand is the only enduring moat in investments and predicts that Web3 will mirror private equity's explosive growth. Their discussion highlights Theory Ventures' investment in Allium, which addresses the growing demand for Web3 financial infrastructure. Tomasz also explores the complexities of valuing Web3 companies and the challenges of navigating funding dynamics in the crypto landscape.