dYdX Considers Solana, Pendle On Solana & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Tech Supremacy: Antonio Juliano considered Solana for dYdX v4.

• Solana x Pendle: Pendle-inspired Surfer Finance to roll out on Solana.

• Easy Validation: Setting up a Solana validator in mins for $337/month.

Take a look at these tweets one after another and see a narrative taking shape in real time 😉

Let’s get this show on the road!

Click on any underlined heading / hyperlink to learn more.

Spotlight

Pudgy Penguins

There's a scene in Billions in which Bobby “Axe” Axelrod tells Ben Kim to “whenever you can, put a company in your mouth” — meaning: Only by experiencing products first hand do you know whether you like them or not.

Getting physical products into the hands of people is crucial for several reasons:

• Tangible Experience: Physical products provide a tangible and sensory experience that digital products or services cannot replicate. Consumers can see, touch, feel, and sometimes even smell or taste the products, which can further enhance their understanding and appreciation.

• Immediate Gratification: Consumers can take a physical product home or start using it right away — thus offering immediate gratification. Moreover, this can be especially amplified for items consumers need or want urgently.

• Quality Assurance: Physical products allow consumers to assess the quality, craftsmanship, and condition of the item before making a purchase. This helps build trust and confidence in the product's value and the overall brand.

• Artistisc & Aesthetic Value: Physical products often have artistic, aesthetic, or collectible value. Items like artwork, antiques, and collector's items are valued for their physical presence and uniqueness.

Consequently, physical products can function as the “top of the funnel” for digital experiences further down the road.

The “top of the funnel” is a marketing concept that represents the initial stage of the customer acquisition process.

It's called the “top” because it's the broadest part of the customer journey and includes all potential customers who are aware of your brand or product but haven't yet engaged deeply or made a purchase.

As such, the top of the funnel is essential for customer acquisition because it lays the foundation for building brand awareness, generating leads, nurturing potential customers, and ultimately driving sales.

Accordingly, effective top-of-funnel marketing strategies can have a cascading effect, leading to a steady flow of engaged and loyal customers as they progress through the various stages of the marketing funnel.

In this context, a top-of-funnel approach led by physical products is exactly what Pudgy Penguins is championing.

A couple of months ago, Pudgy Penguins launched their toys on Amazon. Now, the aquatic birds will also be available at 20% of Walmart stores — approximately 2,000 locations.

Walmart has 240 million weekly customer visits worldwide, and toys are a strategic pillar for the behemoth from Arkansas.

As mentioned in our previous newsletters, Pudgy Penguins excel in meeting and creating demand where potential customers spend their time and attention: Kellogg's, Instagram, Amazon, Walmart — the top-of-funnel flywheel is taking shape just as you read this sentence.

Luca Netz has often been laughed at and ridiculed — yet he seems to be executing and operating at a more clinical rate than most in the web3/crypto space.

I'd be hard-pressed to come up with any other name in our industry who's currently onboarding more non-crypto natives to web3 than the kid from LA.

Granted, other web3 services such as DeFi protocols don't have the IP at their disposal to pursue a similar strategy. Yet, the vast majority of web3 doesn't seem to grasp the importance of creating top of the funnel strategies to begin with.

While Pudgy Penguins emulate Billions, I hope that the rest of web3/crypto can lay off its overreliance on Twitter, Discord, and Telegram — which collectively shape our echo chamber and foster a blinkered mindset — and start thinking outside the box to creatively onboard more users.

Chart Of The Week

News Bites

Solanafying Pendle: To date, Pendle has had ample success on Ethereum and Avalanche. The protocol allows lenders to lock in future yield and generate additional yield, while allowing traders to gain exposure to future yield streams. With Surfer Finance, a Pendle-inspired protocol is about to roll out on Solana.

Economic Validators: Now, even less technical users can set up Solana Mainnet validators within a day and for $337/month.

Tech Supremacy: In a recent podcast, Antonio Juliano — founder and CEO of dYdX — mentioned that his team seriously considered Solana for v4 of their protocol. However, they decided to build dYdX v4 on their own Cosmos chain, mainly so that they can have full control and ownership at all times.

Superteam Israel: Often referred to as “Startup Nation”, Israel has gained international recognition for its remarkable achievements in the field of technology and entrepreneurship. That’s why Superteam Israel finds itself in the perfect location. The team recently held its first mentorship event incl. speakers and guests from eToro, StarkWare, and many more.

Most Loved: According to CoinShares, $SOL registered inflows of US$5m in the last week, making it the most loved altcoin this year — while $ETH seems to be the least loved altcoin in 2023 so far.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

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Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens / equity.}