Marius Ciubotariu

“I was talking to everyone at BrainPoint that this is going to be really good and big in Solana. Because we always wanted this and we finally have it. And I think although we live in this permissionless 24-7 world, it's still fine and some people still lose money and things break.”

“What we observed with Prime is when you have something that is sustainable and that scale, it takes a bit of time, but people start trusting it and then they realize they can do useful things. People with that want to earn yield, they can rely on it. So this was always the promise of defy composable money, but there were no pieces to compose with.”

“I think we always wanted to get here to have something like quality assets that people can simply hold on chain, self-custody, or, you know, borrow land loop, which is like kind of like a simple way of tranching it, you know, getting the senior trash or the junior trash by lending or by looping it.”

“But there's this weird dynamic on chain, which is I can just issue a utility token to fund my project. And so like what role does debt actually play? And I guess my view would be it largely has been supply and demand for leverage. And so credit cycles on chain, they don't necessarily follow sort of credit cycles in the TradFi world.”

“You want to do it well, you want to inform people about the token, what does it do, what are the risks, what is the yield coming from, be as transparent as possible, try to curate as much as possible. Because that's how you build a user base that appreciates those things, that invites other people, trusts you, etc.”

“Think we kind of all looked at the past few years, and we thought low risk DeFi is a thing. And, everyone's happy to earning a two and a half percent or 3% forever, and I just simply don't believe it. Or maybe Solana is more higher risk appetite in general and is more keen to get, you know, 12% yield. We found that people are extremely interested in getting this this extra yield as long as they understand the asset.”

“Figur's been at, sort of the RWA, intersection of of TradFi and credit origination since 2018. You know, we set out to really rebuild capital markets, but doing so, on chain. And so, you know, we're vertically integrated across the whole stack from credit origination, mostly known for tokenizing HELOCs, on chain. Done about 22,000,000,000, of those to date. We structure the cash flows, and then we also distribute, across TradFi and DeFi.”

“There was never really, like, exogenous quality sustainable yield. And I think the first the first glimpse of that was Athena, last year or two years ago when we had, like, exogenous yield that was not due to, you know, like, leverage against Bitcoin. It was, to some extent, leverage because it was, still driven by the funding fees, but it was somewhat upon exogenous yield. And what we observe with Prime is when you have something that is sustainable, and can sustain sustainable and at scale, it takes a bit of time, but people start trusting it.”

“I think we always wanted to get here to have something like quality assets that people can simply hold on chain, self custody, or, you know, borrow land loop, which is, like, kind of, like, a a similar way of tranching it, you know, getting the senior trash or the junior trash by lending or by looping it. We always wanted to have this, but the the assets were never there. So we always had native, crypto, so ETH and Bitcoin, and stable coins.”

“Camino was born about three years ago, kind of out of a of a need to serve some of the stable coins, in Solana. It's you initially, it was, an LP, protocol to to tokenize LPs, and then it once we realized that, actually, the bottle end was not well served or did fit all the needs, we decided to build our own bottle end as well. The reason why it was all created was to serve DeFi and Solana because we thought the blockchain will, create a lot of economic activity, which is what is happening now.”