The Smart Economy Podcast: Real-World Blockchain Applications with Crypto, DeFi, NFTs, and DAOs

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Nick Hansen, team lead at The Graph Foundation, an indexing protocol for organizing blockchain data. Together, they unpack The Graph’s mission to become the “Google of blockchains,” and discuss why decentralized indexing matters more than ever.What you’ll learn:How The Graph is working to solve the critical read-write problem in blockchain data accessibilityWhy decentralized indexing provides crucial advantages over centralized alternatives for dApp developmentThe evolution of foundation leadership from zero-to-one pioneers to professional operational expertiseHow content creation and community building can create career opportunities in Web3Why blockchain infrastructure projects must balance technical innovation with institutional adoptionThe framework for evaluating when decentralization matters most in technical infrastructureHow The Graph is preparing for the convergence of AI and blockchain data through knowledge graphsAnd much more!Nick Hansen is the team lead at The Graph Foundation, where he stewards the development and growth of The Graph, an indexing protocol for organizing blockchain data. With a diverse background spanning traditional finance, marketing, radio broadcasting, and education, Hansen brings a unique perspective to blockchain infrastructure development. Prior to his current role, he created and hosted the GRT IQ podcast, conducting over 200 interviews with key figures in The Graph ecosystem, which led to his transition into a leadership position at the foundation.Episode Highlights:[00:00:00] Seize Rare Industry Inflection Points Before They Pass You ByDylan Grabowski emphasizes that **major industry shifts happen rarely throughout human history**, and recognizing when you have an invitation to participate in one is a career-defining moment. Most professionals never encounter a foundational technology at its emergence, making these opportunities extraordinarily valuable and fleeting. The challenge many face is **hesitancy born from uncertainty**—it's difficult to commit fully to something nascent when traditional career paths feel safer. The first step is to **acknowledge the historical rarity of these moments** and reframe participation as a human experience worth pursuing, not just a financial bet. When Grabowski faced the choice between staying in traditional finance and joining The Graph Foundation, he recognized this as one of those rare inflection points and made the leap despite having a family to support. For builders seeking meaningful work, **identifying and seizing these moments—even with imperfect information—often determines whether you build something transformational or watch from the sidelines**.[00:13:07] Build Authority in Emerging Spaces by Starting a Content Brand EarlyGrabowski discovered that **in Web3, you can build credibility and influence by becoming a visible content creator** before you have deep expertise, positioning yourself as an emerging thought leader. Unlike traditional industries where credentials matter first, blockchain communities reward **consistent visibility, genuine curiosity, and transparent learning in public**. The barrier to entry is low—you don't need formal permission, funding, or institutional backing to start creating value. His approach was to **launch the GRT IQ brand with simple deliverables** (infographics, written interviews, eventually a podcast) while learning the space simultaneously over 8 months. This consistency and authentic engagement led to The Graph Foundation directly approaching him with a full-time opportunity, demonstrating that **visibility compounds into opportunity**. For builders wanting to break into Web3, **starting a content brand around a protocol or ecosystem you believe in is one of the fastest pathways to credibility, connections, and ultimately employment**.[00:17:06] Use Traditional Finance Frameworks to Evaluate Crypto Projects Without Providing Financial AdviceGrabowski applies his **TradFi background to crypto evaluation** by translating familiar concepts rather than creating entirely new frameworks. He emphasizes that **"do your own research" isn't a Web3 invention—it's foundational logic** you'd apply to any major decision (buying a home, choosing a partner, adopting a pet). The critical insight is that **traditional finance already solved the problem of risk assessment**; you can leverage existing concepts like risk tolerance, personal financial goals, and time horizons to approach digital assets responsibly. Rather than chasing PE ratios or impossible metrics, the focus should shift to **understanding the team, the problem being solved, and your personal conviction** after connecting with community members in Discord and Telegram. The challenge many face is **conflating speculation with investment**, which Grabowski addresses by maintaining clear language about what crypto participation actually is at current market maturity. For builders and investors, **applying traditional financial discipline—without pretending crypto metrics are equivalent to traditional finance—provides a grounded approach** that reduces emotional decision-making.[00:32:54] Position Decentralization as Insurance, Not PhilosophyGrabowski reframes **decentralization not as ideological purity but as practical risk mitigation** against predictable failure modes of centralized systems. When dApps rely on centralized indexing providers (like SaaS competitors to The Graph), they face real risks: **server downtime crashes the application, terms-of-service changes can destroy business models, and data ownership becomes contested**. The market hasn't yet experienced catastrophic centralized failures in blockchain infrastructure, so builders often deprioritize decentralization—but **this is precisely when you should adopt it as insurance**. By using decentralized infrastructure like The Graph, **developers retain redundancy, avoid vendor lock-in, and eliminate single points of failure** that will inevitably emerge as the industry scales. The framework is borrowed from physical infrastructure: you don't appreciate police until you need them, and you don't appreciate decentralized systems until centralized ones fail you. For builders making infrastructure choices, **choosing decentralized solutions early—even when centralized competitors seem cheaper or faster—is strategic risk management** rather than ideological posturing.[00:44:34] Professionalize Foundation Operations to Scale Ecosystem MaturityGrabowski's transition to Team Lead at The Graph Foundation reflects a **shift from "zero to one" founding chaos to structured operational excellence** as ecosystems mature. Earlier foundation leaders had different skills suited to launching from nothing; his role is to **apply management discipline, align teams around clear mandates, and drive strategic coordination** without centralizing decision-making. The foundation's goal isn't to solve every problem forever but to **identify which gaps need backfilling now, which the ecosystem can solve independently, and which require long-term stewardship**. He's implementing professionalized processes for how the foundation works with core developers and how core devs coordinate with each other—work that's invisible externally but enables ecosystem-wide coherence. The challenge is **balancing operational rigor with Web3's decentralized ethos**; some criticize formalization as too "corporate," but boundaries and clear processes actually protect decentralization. For ecosystem stewards, **introducing professional operations management at the right maturity stage accelerates ecosystem growth** without creating centralization risk.[00:47:55] Target New Market Segments to Drive Growth Beyond Developer CommunitiesGrabowski identifies that **The Graph's next growth phase comes from shifting focus away from developer audiences toward institutional and enterprise users**. For years, Web3 infrastructure projects defaulted to developer marketing because that's who understands the technology, but **market segmentation reveals that institutional buyers have different needs and decision criteria** than individual developers. The surprising discovery is that **major TradFi institutions already recognize The Graph's value**—this isn't a cold-call situation but one where large players proactively approach because they understand the protocol's role. Rather than continuing to optimize for the dev community, The Graph Foundation is now **developing use cases, documentation, and features tailored to enterprise requirements** while continuing core developer support. The framework comes from consulting firms (McKinsey, Bain, BCG) that identify multiple customer segments and design distinct growth strategies for each. For builders and foundations, **recognizing when your initial market (early adopters/developers) is maturing means identifying and cultivating the next segment** to sustain exponential growth.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Satraj Bambra, CEO and co-founder of Rails and managing partner at Round13 Capital. Together, they explore Rails’ hybrid trading model, its collaboration with Kraken’s Ink layer-2, and what these developments signal for the future of decentralized finance. Satraj unpacks how Rails blends on-chain user custody with centralized execution for speed, compliance, and transparency, while offering a candid take on post-FTX lessons, institutional market entry, and why Ethereum’s rally is powered more by momentum than fundamentals.What you’ll learn:How Rails’ hybrid design fuses CEX speed with DeFi-grade securityWhy on-chain custody and centralized matching make trading faster and saferHow the Kraken Ink layer-2 partnership powers scale and trustWhat post-FTX lessons taught builders about custody and complianceWhy KYC/KYB is unlocking institutional flow into cryptoHow exchange-driven liquidity shapes market momentumWhy Ethereum’s rally reflects speculation, not fundamentalsWhat’s next: Prop, cross-chain expansion, and institutional vaults driving the next wave of DeFiAnd much more!Satraj Bambra is the co-founder and CEO of Rails, a hybrid perpetuals trading platform combining on-chain custody with centralized execution for institutional-grade speed and security. He also serves as managing partner and CIO of the Digital Asset Fund at Round13 Capital, a Toronto-based venture and growth equity firm investing in high-potential technology and blockchain companies. As a seasoned builder and investor, Satraj previously co-founded BlockEQ, a Stellar-based wallet later acquired for its mobile innovation, and has led engineering teams at TWG and Deloitte Digital. With deep experience across product development, venture capital, and crypto markets, he brings a rare dual perspective as both a hands-on builder and a disciplined fund manager helping shape the next phase of digital finance.Episode Highlights:[00:20:59] Crypto as a Tech Stack, Not a PhilosophySatraj draws a clear distinction between ideology and practicality, arguing that crypto should be treated as a technology layer, not a belief system. For him, the future of finance depends on merging blockchain transparency with traditional compliance. He believes that as TradFi and crypto converge, regulation will harmonize, not disappear. The lesson for long-term builders is to design systems that can operate within global financial standards, not outside them. Deregulation, he reminds listeners, never means zero regulation.[00:24:18] The Hybrid Exchange Model: Centralized Speed, On-Chain CustodyRails was born from a lesson learned during the FTX collapse, that speed and control must coexist. The platform keeps user funds fully on-chain through audited smart contracts while executing orders via a centralized matching engine for high throughput. This hybrid design gives traders self-custody without sacrificing performance. Every 30 seconds, transactions are mirrored to the blockchain using Merkle proofs, ensuring transparency and tamper resistance. It’s an architecture built for scale, security, and trust.[00:26:45] Compliance as a Competitive EdgeWhile many DeFi projects run from regulation, Rails leans into it. Satraj explains how full KYC/KYB and licensing have become key differentiators for attracting institutional traders and market makers. Traditional firms no longer view compliance as a burden but rather as a prerequisite for entry. Rails operates like a financial-grade exchange that happens to use blockchain, not the other way around. The result is a structure that meets regulatory standards while staying true to crypto’s core values of openness and auditability.[00:33:10] Integrating Zero-Knowledge and Merkle ProofsSatraj breaks down how Rails leverages ZK proofs for privacy and user validation, layered on top of Merkle trees for transaction integrity. This dual system ensures that while data remains verifiable, sensitive user information stays private. It’s not decentralization for its own sake, it’s cryptography engineered for trust and efficiency. By combining verifiability with discretion, Rails offers a blueprint for compliance-ready transparency in the DeFi space.[00:42:16] Roadmap: Prop, Cross-Chain Growth, and Institutional VaultsRails’ next chapter focuses on accessibility and expansion. “Prop” will let aspiring traders learn the ropes, trade with test capital, and graduate into funded accounts on the main platform. The team is also integrating new blockchains to widen liquidity access and developing institutional vaults where professional firms can trade and return yield to users. Each initiative reflects Satraj’s belief that hybrid models, bridging DeFi innovation with real-world financial discipline, will define the next era of crypto trading.[00:44:46] Ethereum’s Rally: Momentum, Not FundamentalsIn one of the episode’s most striking takes, Satraj calls Ethereum’s 2025 surge a momentum trade rather than a sign of renewed fundamentals. He argues that big institutional inflows, not technical breakthroughs, are driving price action. This kind of speculative lift, he warns, signals a late-stage market cycle. For builders, it’s a reminder to focus on product, not hype; for traders, it’s a cue to prepare for volatility. The insight lands as both a market analysis and a cautionary forecast for what lies ahead.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Mirza Uddin, head of business development at Injective, a blockchain-based platform building infrastructure for DeFi, aiming to enable truly open, permissionless, and interoperable financial systems. Together, they sat down for an insightful conversation about long-term thinking in crypto, creative inspiration from anime, the rise of decentralized finance infrastructure, and how Injective achieved true product-market fit.What you’ll learn:How creative outlets like sci-fi and anime can inspire innovative blockchain solutionsWhy sustainable blockchain projects need decades of commitment rather than quick winsThe strategic advantages of building on both Cosmos SDK and EVM technology stacksHow Injective achieved 54.7M staked tokens through community-focused developmentWhy traditional finance partnerships signal mainstream adoptionHow staked token ETFs could revolutionize retail investor access to blockchain yieldsWhy solving user experience friction remains crucial for DeFi adoptionAnd much more!Mirza Uddin is the head of business development at Injective, as well as co-founder and general partner at Vessel Capital, where he brings vast expertise in blockchain technology and decentralized finance. With a background in venture capital and cryptocurrency dating back to 2013, Mirza has been instrumental in developing Injective's financial-focused blockchain platform and driving strategic partnerships with Wall Street institutions. His dual role as both an operator and investor through Vessel Capital, where he takes a hands-on approach using personal capital to back promising projects, provides him with unique insights into the cryptocurrency ecosystem.Episode Highlights:[00:15:30] Building Sustainable Blockchain ProjectsMirza emphasizes that transformative change in blockchain takes decades, not overnight success. The key insight is focusing on product development and real user value rather than token price speculation. Many projects in 2017-2018 produced fancy whitepapers but never built anything substantial, leading to their eventual failure. By contrast, successful projects like Injective were forced to build actual products even with minimal funding, which created genuine value. Teams must be willing to persist through multiple bear markets while continuously improving their product. The lesson for builders is that lasting success comes from users finding genuine value in your work, not from short-term token gains.[00:36:45] Product Differentiation StrategyThe average user doesn't care if something is on-chain or off-chain - they care about unique functionality and ease of use. Blockchain projects need to offer features and capabilities that centralized alternatives cannot provide. For Injective, this meant enabling users to build their own exchanges and create custom markets rather than just replicating existing CEX functionality. Projects must justify the added friction of using blockchain by delivering compelling advantages. This strategy helped Injective achieve product-market fit by focusing on real user needs rather than ideological decentralization.[00:42:30] Technical Stack EvolutionInjective's decision to build on both Cosmos SDK and EVM demonstrates the importance of technical flexibility. The Cosmos SDK provided the customization needed for their core orderbook and trading features, while adding EVM support opened access to the largest developer ecosystem. Rather than choosing between technical stacks, they found ways to leverage the advantages of both. This hybrid approach allows projects to maintain their unique capabilities while expanding their reach. The lesson is that technical decisions should serve business goals rather than ideological preferences.[00:50:45] Strategic Wall Street IntegrationThe partnership with Pineapple Financial showcases how blockchain projects can meaningfully integrate with traditional finance. Rather than pursuing superficial corporate treasury deals, Injective focused on partners who could bring real financial activity on-chain. Their approach centers on finding synergies where blockchain can enhance existing financial services like mortgage securitization. Teams should look for partnerships that drive actual usage rather than just token price appreciation. This strategy creates sustainable value by solving real business problems rather than chasing short-term gains.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Ian Rogers, Chief Experience Officer at Ledger, a hardware and software security provider for digital assets and Web3. Together, they explore the parallels between early internet adoption and crypto security, discussing how lessons from the web’s evolution inform today’s digital asset protection strategies.What you’ll learn:How the early internet's adoption challenges mirror current crypto adoption barriersWhy security and self-custody remain fundamental to crypto's value propositionHow Ledger approaches product development for both crypto natives and mainstream usersWhy the merger of AI and crypto will reshape digital value managementHow to navigate the spectrum between complete decentralization and user-friendly featuresWhy punk rock principles still drive crypto innovationAnd much more!Ian Rogers is the Chief Experience Officer at Ledger, bringing over 25 years of expertise in digital innovation and user experience. With a pioneering background in web development, he notably created and managed beastieboys.com in the mid-1990s, potentially establishing one of the first web design companies. His career spans leadership roles at major tech companies, including Yahoo Music, Beats (acquired by Apple), and LVMH, before joining Ledger in 2021. Ian is recognized for his ability to bridge technology and user experience, particularly in helping mainstream audiences adopt emerging technologies. At Ledger, he leads initiatives to make self-custody of digital assets more accessible and secure, while maintaining the company's high security standards and commitment to user sovereignty.Episode Highlights:[00:00:00] Self-Custody as the Core Value Proposition Ian Rogers emphasizes that self-custody is the fundamental differentiator between crypto and traditional payment systems. He argues that without appreciating self-custody, there's no reason to prefer cryptocurrency over services like Visa or PayPal. The true value proposition of crypto lies in having direct control over your digital assets, which requires robust security measures. Ledger has positioned itself as the leading provider of secure self-custody solutions, supporting this core principle while making it accessible to mainstream users. This focus on self-custody has shaped their development of increasingly user-friendly hardware wallets and recovery solutions.[17:15] The Digital Value RevolutionRogers draws parallels between the early internet's transformation of information and crypto's digitization of value. The shift to digital value represents a more fundamental change than Web2 to Web3, with implications for personal wealth and financial sovereignty. This transformation requires new thinking about security, custody, and user experience as value moves on-chain. Rogers predicts digital value will become pervasive but emphasizes maintaining security and self-custody principles. The key challenge is making these complex systems accessible while preserving their core benefits.[36:04] Building for Mainstream AdoptionLedger's mission focuses on enabling secure digital value management without compromising on self-custody principles. Their approach involves improving device usability, expanding supported services, and developing better recovery options for mainstream users. They recognize that reaching the next billion users requires balancing security with convenience. By positioning themselves as the "pro version" of value management apps, they aim to bridge the gap between crypto natives and newcomers. This strategy has led to innovations like their e-ink touchscreens and recovery solutions.[41:40] Security First, No CompromisesLedger maintains strict security standards, refusing to compromise on core principles like secure screens and proper seed generation. They prioritize real security over ideological purity, focusing on practical protection of users' assets. Their approach includes careful consideration of new features' security implications and thorough technical documentation. This commitment to security shapes everything from hardware design to recovery solutions, even when facing criticism from crypto maximalists.[48:16] The AI-Crypto ConvergenceRogers identifies crypto as the essential counterbalance to AI's growing influence, particularly in protecting personal data and value. He emphasizes the importance of maintaining self-custody of digital identities and preferences rather than surrendering them to AI agents. Ledger sees its role expanding as the world moves toward $10 trillion in on-chain value. Their vision includes building tools that let users interact with AI while maintaining control of their digital assets and identity. This perspective shapes their product development and long-term strategy.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Aryan Sheikhalian, Head of Research at CMT Digital, a global blockchain and Web3 proprietary trading and venture capital firm focused on early-stage investments that accelerate the adoption of blockchain technology. Together, they dive into what it really takes to build sustainable decentralized systems.What you’ll learn:How Aryan's early exposure to cryptography and Blockchain Research Institute shaped his investment lensWhat CMT Digital looks for in pre-seed and seed-stage startupsWhy Ethereum's shift to a data availability layer could be both a superpower and a challengeWhat modular blockchain design unlocks for institutional adoption and infrastructure composabilityWhy stablecoins are the real killer use case in crypto, and how U.S. policy is accelerating their global reachAnd much more!Aryan Sheikhalian is the Head of Research at CMT Digital, a Chicago-based VC firm backing early-stage blockchain startups. With roots in cryptography, economics, and distributed systems, Aryan brings a pragmatic and research-driven lens to Web3. At CMT Digital, he plays a critical role in sourcing and managing investments while leading research efforts in blockchain technology. Aryan has worked with top blockchain organizations and is deeply involved in fostering the growth of decentralized finance and Web3.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Marc Tillement, Director of the Pyth Data Association, an independent entity pursuing decentralized financial data distribution through the Pyth Network ecosystem. Together, they explore how Pyth Network aims to transform financial data distribution through its oracle network that serves over 100 blockchains.What you’ll learn:How traditional financial data distribution is controlled by 5-6 companies generating $30B in annual revenueWhy decentralized oracle networks are crucial for bringing real-world data on-chainThe strategic advantage of creating new financial data sources rather than just redistributing existing onesHow Pyth Network engages major trading firms and exchanges as data publishersWhy running an independent app chain enables better oracle service across multiple blockchainsHow privacy concerns are driving innovation in decentralized exchange infrastructureAnd much more! Marc Tillement is the Director of the Pyth Data Association. With vast experience in traditional finance and blockchain technology, Marc leads efforts intended to revolutionize how financial market data is sourced, distributed, and utilized across more than 100 blockchain networks. Under his leadership, Pyth Network has established partnerships with major traditional finance institutions, like CBOE and NYSE, while onboarding over 100 data publishers, including prominent trading firms like Virtu and GTS. Marc brings unique insights on transforming the $30 billion financial data industry through decentralized infrastructure, offering high-frequency, real-time market data feeds to smart contracts across multiple chains.Episode Highlights:[18:21] Revolutionizing Financial Data InfrastructureMarc Tillement explains how Pith Network is creating a universal price layer that powers financial applications across blockchains. The network provides nearly 2,000 price feeds with sub-millisecond refresh rates available permissionlessly on over 100 blockchains. Rather than just sourcing existing data, Pith creates new financial data directly from trading firms and exchanges who generate it. Developers can integrate these price feeds directly into their DeFi applications without intermediaries. The platform's infrastructure-as-code approach allows seamless integration across chains while maintaining data quality and reliability.[26:09] Building a Decentralized Data Publisher Network Trading firms like Virtex, GTS, and Jump Trading have joined Pith as data publishers, contributing their own market data rather than relying on exchanges. This direct-from-source model eliminates the traditional practice of exchanges repackaging and reselling traders' own data back to them. By aggregating data from multiple publishers, Pith can create synthetic asset prices that are decorrelated from any single exchange. The network has onboarded over 100 publishers including major institutions like CBOE and US stock exchanges. Publishers receive token rewards based on data quality and quantity contributed.[39:32] Evolution from Solana Oracle to Multi-Chain PlatformPith began as a Solana-native oracle but evolved to run its own application-specific blockchain for price aggregation. This sovereign chain allows publishers to run validator nodes and produce price proofs that can be verified across any blockchain. The app chain model solved scalability challenges of running directly on Solana while enabling permissionless access across chains. Developers can integrate Pith's price feeds by simply deploying smart contracts that verify proofs from the Pith chain.[49:41] The Future of TradFi on ChainMarc predicts traditional finance will increasingly move on-chain to enable 24/7 markets and trading. This transition may take years but will fundamentally change how financial markets operate. The blockchain industry will likely split between TradFi-oriented chains focused on real-world assets and pure DeFi chains maintaining the original crypto ethos. Privacy tools and technology will become increasingly important as more traditional trading moves on-chain. The key is being early to capitalize on this shift while maintaining decentralization principles.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Josh McIntyre, Chairperson of the CCE Committee at C4, a non-profit organization advancing the understanding and adoption of Bitcoin, cryptocurrency, blockchain technology, and secure private key management. Together, they explore essential blockchain security practices that both newcomers and veterans often overlook.What you’ll learn:How to evaluate your personal security threat model and build appropriate protection strategiesThe three critical security pillarsWhy complacency is the biggest threat to experienced crypto users and how to combat itHow to implement the urgency-threats-rewards framework to identify social engineering attacksWhy hardware security keys like YubiKey should be deployed in pairs for redundancyHow to maintain security hygiene through regular audits and testing of backup systemsAnd much more!Josh McIntyre is a software engineer at Microsoft and a tech educator at Chaintuts, a comprehensive educational platform demystifying cryptocurrency security for everyone, from curious newcomers to technical professionals. With a rich background in systems engineering and a deep passion for digital sovereignty, Josh has spent years helping individuals better understand how to safeguard their crypto assets. Whether through his hands-on coding tutorials, video content, or his contributions to the Cryptocurrency Certification Consortium, Josh has become a respected voice in promoting practical, real-world crypto security.Episode Highlights:[26:08] The Three Pillars of Crypto Security FrameworkJosh McIntyre outlines three critical components for comprehensive crypto security: social engineering awareness, self-custody practices, and exchange account management. The framework addresses the most common vulnerabilities in cryptocurrency, from phishing attempts to key management, and exchange security. Users must first understand social engineering tactics, as scammers frequently attempt to trick people into revealing keys or sending irreversible transactions. For self-custody, it's essential to properly manage and backup private keys while keeping them inaccessible to attackers. Exchange users need to focus on account hygiene, including strong passwords, two-factor authentication, and ensuring email security matches exchange security levels. [29:45] The UTR (Urgency-Threats-Rewards) Pattern for Detecting ScamsMcIntyre reveals a powerful three-part pattern for identifying social engineering attacks in crypto: urgency, threats, and rewards. The urgency component involves pressuring targets to act quickly without time to think, while threats often include warnings about account closure or loss of funds. Scammers frequently exploit human psychology by offering too-good-to-be-true rewards, such as promises of massive returns or free crypto. Common examples include phishing emails demanding immediate seed phrase verification and investment scams promising unrealistic daily returns. This pattern recognition approach helps users develop an automatic mental filter for detecting potential scams before falling victim.[34:56] Essential Backup Strategies for Crypto AssetsMcIntyre emphasizes that losing a seed phrase is fundamentally different from losing a standard password, as it represents complete and irreversible loss of access to crypto assets. He recommends implementing the "three copies, two different mediums, one off-site" rule for backing up critical data. Users should consider using fire-resistant storage, metal backups, and potentially even bank safety deposit boxes for secure storage. The strategy must account for both physical threats (fire, flood, theft) and access planning for heirs or trusted parties. This comprehensive backup approach ensures resilience against various failure scenarios while maintaining practical accessibility.[46:07] Avoiding the Complacency Trap in Crypto SecurityMcIntyre warns that experienced users often fall victim to security breaches due to complacency rather than lack of knowledge. He advises scheduling regular security audits, at least annually, to review and update security practices as threats evolve. The key is treating security as an ongoing practice rather than a one-time setup, including regular testing of backup systems and verification of access methods. Even security professionals can fall victim to sophisticated attacks, making it crucial to maintain vigilance regardless of experience level. Regular security maintenance helps prevent the gradual erosion of good practices that often leads to compromised assets.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Sam MacPherson, CEO and co-founder of Phoenix Labs, the R&D company behind the multi-chain DeFi platform Spark.What you’ll learn:How Spark Liquidity Layer helps solve cross-chain fragmentation by automatically deploying capital across multiple L2sWhy the transition from DAI to USDS represents a strategic move to capture mainstream adoptionThe mechanics behind Spark's APY generation through diversified yield sourcesHow institutional adoption is driving DeFi innovation through products like Coinbase's Bitcoin BorrowHow Spark evaluates and onboards new L2 networks based on user metrics and market demandAnd much more!Sam MacPherson is the CEO and co-founder of Phoenix Labs, an R&D group dedicated to building the Spark protocol ecosystem. With over 20 years of software engineering experience spanning video game development and DeFi, Sam joined MakerDAO's protocol engineering team in 2021 during its transition to DAO governance, where he wrote critical smart contracts managing billions in assets. As a key architect of the Spark protocol, which has scaled to $3.6 billion in deployed capital, Sam leads initiatives to solve multi-chain liquidity fragmentation and develop innovative yield-bearing stablecoin solutions.Episode Highlights:[09:30] Stablecoins as Crypto's Killer ProductSam Macpherson explains why stablecoins have emerged as one of crypto's strongest product-market fits, with supply consistently growing through both bull and bear markets. The demand is driven by real utility, particularly in developing nations where people need access to stable USD-denominated stores of value and efficient international transfers. While Tether and Circle dominate the high-liquidity portion of the market, Spark is focused on yield-bearing stablecoins that allow users to earn at least the risk-free rate on idle funds. During bull markets, these yields can reach double-digit percentages, providing significant value to users. This sustainable growth demonstrates how stablecoins solve genuine problems around accessing stable value and generating yields on savings.[16:24] Spark's Automated Capital Allocation SystemThe Spark Liquidity Layer has scaled to $3.6B in just months, becoming the largest on-chain capital allocator by leveraging multiple yield sources. The system automatically deploys capital across lending markets, treasury bills, and exchange funding rates to maximize risk-adjusted returns. Rather than users having to actively manage their positions, Spark handles the complexity of finding and capturing the best yields. This automated approach allows even those unfamiliar with DeFi to earn competitive yields while maintaining the security of their principal. The platform continues expanding its reach, recently adding support for tokenized T-bills through BlackRock, SuperState, and Janus Henderson.[34:38] Making DeFi Accessible Through Sandbox TestingRecognizing that DeFi can be intimidating for newcomers, Spark created a sandbox environment where users can practice with $10,000 in test tokens before risking real money. This approach allows people to familiarize themselves with the platform's features and understand how yield generation works without fear of making costly mistakes. The interface is intentionally simplified to focus on core functionalities like deposits and withdrawals rather than complex trading features. By prioritizing user safety and education, Spark aims to make DeFi yields accessible to mainstream users who may be intimidated by more complex protocols.[37:59] Three-Ring Approach to User AdoptionSpark employs a strategic three-ring model to capture different user segments, from DeFi natives to traditional finance participants. The inner ring serves existing crypto users familiar with decentralized protocols, while the middle ring targets users of centralized platforms through infrastructure partnerships. The outer ring focuses on traditional finance integration through products like ETFs, making yield-bearing stablecoins accessible through familiar investment vehicles. This layered approach allows Spark to meet users at their comfort level while gradually expanding DeFi adoption. The strategy is already showing success, with Spark providing 80% of the capital for Coinbase's Bitcoin borrow product.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Aaluxx Myth, co-founder of Maya Protocol, a decentralized liquidity solution enabling native L1-to-L1 token swaps.What you’ll learn:How Maya Protocol's approach to cross-chain liquidity differs from THORChainThe real-world impact of crypto in Latin AmericaHow Prop 6 transformed a potential $500M ecosystem collapse into a sustainable recovery solutionWhy pseudonymous founding teams can enhance security and principle-based development in cryptoThe framework for creating sustainable tokenomics that prioritize swap volume over speculative valueHow crisis management in DeFi can be handled transparently through community governanceAnd much more!With a background in software development and startups, Aaluxx leads a team of over 70 engineers and designers, with a core focus on building permissionless financial infrastructure. Known for authoring Proposal 6, which led to the creation of the TCY token, Aaluxx played a pivotal role in resolving the THORChain DeFi ecosystem crisis in early 2024.Episode Highlights:[00:00:00] Decentralization as a Tool for PermissionlessnessAlux Smith introduces a crucial perspective on decentralization's role in crypto ecosystems, framing it as a means rather than an end. This insight challenges the common industry obsession with decentralization for its own sake, focusing instead on its practical utility in enabling permissionless systems and self-custody. The approach recognizes that excessive focus on decentralization metrics can distract from the core goal of creating truly accessible financial systems. By prioritizing permissionlessness, protocols can better serve users in regions with restricted financial access while maintaining security and autonomy. This framework has guided Maya Protocol's development, resulting in a more focused and effective system that serves its core mission of enabling trustless cross-chain trading.[12:44] Crypto as an Exit Strategy in Emerging MarketsThe interview reveals how cryptocurrency serves as a vital financial safeguard in Latin American economies, particularly as an "exit plan" for citizens facing potential political instability. Unlike developed markets where crypto is often viewed as a speculative asset, regions with historical monetary instability see it as a practical tool for preserving wealth and maintaining financial mobility. The key advantage lies in crypto's ability to be quickly accessed from anywhere, contrasting with traditional assets like real estate that can be difficult to liquidate during crises. This perspective has driven significant adoption among middle-aged professionals in Mexico who understand the value of having portable, self-custodied wealth. The insight demonstrates how different market contexts create vastly different value propositions for blockchain technology.[27:54] Maya Protocol's Innovation in L1-L1 SwapsAlux details Maya Protocol's architectural approach to cross-chain liquidity, using the Kakao token as an intermediary for efficient asset swaps. Rather than creating direct pairs between all assets (requiring n-factorial pools), the protocol reduces complexity by routing all trades through Kakao, requiring only n pools. This design choice prioritizes liquidity efficiency while avoiding the third-party risk inherent in using stablecoins as intermediaries. The zero-inflation policy and fair launch mechanism have created a more stable system focused on sustainable growth rather than speculative trading. This approach has attracted integration partners who value reliability over short-term price action.[41:14] Crisis Management in DeFi The resolution of the Thorfi crisis through Prop 6 demonstrates a novel approach to handling protocol insolvency without destroying ecosystem value. Instead of liquidating assets at a loss, the solution created a new token (TCY) that entitled holders to a perpetual share of protocol revenues. This approach allowed users to either exit immediately at a discount or maintain exposure to the protocol's recovery. The implementation required extensive coordination and 90,000+ lines of code, but provided a more equitable solution than traditional bankruptcy proceedings. The success of this model offers valuable lessons for other protocols facing similar challenges.Previous guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so

In this episode of The Smart Economy Podcast, host Dylan Grabowski is joined by Ryan Galvankar, the founder of Plaza Finance, a platform built on Base that is specializing in programmable derivatives.What you’ll learn:How traditional finance expertise shaped Plaza's approach to building decentralized derivativesWhy Base was chosen as the L2 solution for Plaza's productsThe mechanics behind bondETH's stable 10% annual yield through quarterly coupon paymentsHow levETH achieves "leverage without liquidation" through self-balancing protocolsWhy institutional adoption of Ethereum continues despite market sentiment fluctuationsThe relationship between bondETH and levETH in creating balanced risk profiles for different investorsHow programmable derivatives can bridge TradFi and DeFi by offering familiar financial productsAnd much more!Ryan Galvankar is the founder of Plaza Finance, a platform built on Base that is specializing in programmable derivatives. With a background in electrical engineering and finance from the University of Pennsylvania, Ryan brings vast traditional finance experience from roles at Bank of America, Merrill Lynch, Magnetar Capital, and Atalaya Capital Management, where he focused on structured credit and trading. As Plaza Finance's founder, Ryan is pioneering innovative DeFi solutions that bridge traditional finance with blockchain technology, aiming to minimize liquidation risk in its structured leveraged products bondETH and levETH.Episode Highlights:[00:00:00] Bridging DeFi's Risk Spectrum[00:15:24] Understanding Programmable Derivatives[00:36:09] Bond ETH: A Bridge to Conservative Investors[00:46:04]  LevETH: Sustainable Leverage InnovationPrevious guests include: Rusty Matveev, Chief Strategy Officer at Calaxy; Andrew Lawrence, CEO and Co-Founder of Censo; Zac Townsend, CEO and Co-Founder of Meanwhile; Jesper Johansen, CEO and Co-Founder of Northstake; Tama Churchouse, COO of Cumberland Labs; Holly Wood of Boson Protocol; Sid Powell of Maple Finance; Chad Barraford of THORChain; and many others.Check out our three most downloaded episodes:Laying the Groundwork for a Billion-User Blockchain with Rich Rines, Contributor at Core DAOStaking the Future: From Blockchain Beginnings to Institutional Innovations with Chen Zhuling of RockXThe Unstoppable Nature of Blockchain: A Conversation with Bonart Mati of ObligateAttention all blockchain, crypto, and Web3 professionals! If you're a founder, CEO, or expert doing something innovative in this space, we're interested in speaking to you! Apply to be a guest on our platform and connect with our vibrant community of blockchain professionals:  https://fame.so/nnt-guestThe Smart Economy Podcast is handcrafted by our friends over at fame.so