The Edge Podcast

Matthew Pinnock is the COO of Altura.
In this new episode of DeFi Frontier, we walk through Altura's multi-strategy vault and how it generates yield from three sources: a physical gold arbitrage trade, delta-neutral crypto strategies including market-making and funding rate arbitrage, and private credit yield through Fasanara's Midas mF-ONE. Matthew explains how every leg of this real world gold trade is insured. He also breaks down their Yield Run program and the related Pendle market for AVLT including the PT fixed yield and YT points leverage.
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💎 THIS EPISODE'S SPONSORS
🔒 KPK | Best risk-adjusted yield through automated vaults

🕛 NOON | The highest and safest stablecoin yield, built for the long term

🟠 APYX | The first dividend-backed stablecoin (DBS)

👻 MANTLE | Aave V3 is live on Mantle

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚔️ KATANA | Deep liquidity & real yield

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⏱️ TIMESTAMPS
0:00 - Intro
1:44 - Team background
2:53 - What is Altura? Multi-Strategy Yield vault explained
5:30 - Altura’s gold arbitrage trade
8:42 - Insuring every step of the gold trade
11:58 - Crypto native strategies behind AVLT
15:13 - Breakdown of where AVLT yield comes from
18:55 - Which networks support Altura and AVLT
21:31 - Base APY vs Yield Run points program
23:49 - Overview of AVLT pool on Pendle
28:05 - Security: insurance, audits, and opsec
31:32 - What’s next? Altura’s neobank vision
32:30 - Closing
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🔗 GUEST LINKS
► Altura website (ref link): https://app.altura.trade?referral=edgepod
► Altura Proof of Solvency dashboard: https://accountable.altura.trade/
► Altura on X: https://x.com/alturax
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🎙️ MORE FROM THE EDGE PODCAST AND EDGE NEWSLETTER
► Newsletter: https://the-edge.xyz
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast. Altura has been a sponsor of The Edge Podcast, but we do not do paid guest interviews. After learning more about Altura, we invited them on the podcast to explain more on their unique gold arb trade underpinning AVLT.

Robert Leshner is the Founder and CEO of Superstate, as well as the former CoFounder of Compound.
Most people in DeFi are focused on the $2.5 trillion cryptonative market. Robert is focused on the $700 trillion that hasn't moved onchain yet. In this episode, he explains why tokenization is the long awaited evolution for crypto markets, how Superstate is building the bridge between institutional TradFi assets and DeFi, and why the benefits of tokenization will soon lead to a hockey stick moment in DeFi and RWAs.
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💎 THIS EPISODE'S SPONSORS
🔒 KPK | Best risk-adjusted yield through automated vaults

🏦 ALTURA | Bringing the yield institutions kept, to your wallet

🕛 NOON | The highest and safest stablecoin yield, built for the long term

🟠 APYX | The first dividend-backed stablecoin (DBS)

👻 MANTLE | Aave V3 is live on Mantle

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚔️ KATANA | Deep liquidity & real yield

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⏱️ TIMESTAMPS
0:00 - Intro
1:58 - What does tokenization actually mean?
3:41 - Tokenization is evolution, not revolution
7:42 - Why Robert built Superstate
12:49 - What are the primary benefits for tokenized asset issuers?
18:34 - Superstate’s customers + how Superstate tokenized funds work
23:13 - The magic of finance automation that is DeFi
26:28 - How Superstate straddles DeFi ethos and compliance
30:02 - Regulatory landscape, CLARITY Act, and any political headwinds
39:36 - Different categories of tokenized securities
41:26 - Big differentiators for Superstate tokenized securities
44:57 - When does tokenization hit its hockey stick moment?
48:12 - The endgame is primary issuance onchain
49:16 - Closing
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🔗 GUEST LINKS
► Superstate website: https://superstate.com/
► Superstate on X: https://x.com/superstateinc
► Robert on X: https://x.com/rleshner
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🎙️ MORE FROM THE EDGE PODCAST AND EDGE NEWSLETTER
► Newsletter: https://the-edge.xyz
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast.

Kash Dhanda is the COO at Jupiter.
Most people know Jupiter for its flagship DEX aggregator and perps. But we've dug into the onchain business backing JUP token value accrual and why the fundamentals are worth understanding heading into the next bull run.
In this episode of Revenue Meta, Kash walks us through how Jupiter generates revenue across five distinct products: DEX aggregator, perps, Jupiter Lend, JupUSD, and Jupiter Spend, plus more revenue streams growing in development. This is a fascinating deep dive into Solana's largest, most dominant DeFi super app, including why perps for just three trading pairs wins over so much trade volume, how JLP remains one of Jupiter's most popular products, and how JUP token value accrual is aligned with Jupiter's app success. We also get the inside details on what's coming with Jupiter Lens DEX, prediction markets for the World Cup, Jupiter Spend, and their new Offerbook for borrowing and lending with long tail tokens.
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💎 THIS EPISODE'S SPONSORS
🔒 KPK | Best risk-adjusted yield through automated vaults

🟠 APYX | The first dividend-backed stablecoin (DBS)

🏦 ALTURA | Bringing the yield institutions kept, to your wallet

🕛 NOON | The highest and safest stablecoin yield, built for the long term

👻 MANTLE | Aave V3 is live on Mantle

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets

⚔️ KATANA | Deep liquidity & real yield

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⏱️ TIMESTAMPS
0:00 - Intro
1:40 - Overview of Jupiter ecosystem products
2:50 - Jupiter’s biggest growth wins in 2025
4:55 - DEX aggregator revenue is still the foundation
9:17 - Perps is Jupiter's biggest revenue driver
11:32 - New revenue streams
13:57 - JLP is one of Jupiter’s most popular products
18:27 - The importance of Jupiter’s wallet development
19:53 - The potential for Jupiter Lend growth
21:14 - How Jupiter Lend generates revenue for JUP holders
24:06 - What went into launching Bitwise x Ethena market
27:04 - The JupUSD stablecoin and how Jupiter will grow its usage
31:06 - Jupiter is a platform for builders, not just an app
33:43 - Overview of JUP token value accrual
42:54 - Jupiter Lens DEX, prediction markets, Offerbook, and Jupiter Spend
45:41 - Jupiter Spend monthly volume is growing fast
48:09 - Closing
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🔗 GUEST LINKS
► Jupiter website: https://jup.ag/
► Jupiter on X: https://x.com/JupiterExchange
► Kash on X: https://x.com/kashdhanda
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🎙️ MORE FROM THE EDGE PODCAST AND EDGE NEWSLETTER
► Newsletter: https://the-edge.xyz
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast. Kash holds JUP.

David Vatchev is Head of Tokenization at Fasanara, Arpan Gautam is the Founder at Noon, and Rob Montgomery is the CoFounder at infiniFi.
In this episode, David, Arpan, and Rob break down why not all private credit is the same, and why the short duration, asset-backed, diversified kind is fundamentally different from what's causing problems in TradFi. They walk through how Noon and infiniFi independently chose to allocate to Fasanara, how the First Brands Group bankruptcy stress-tested their thesis in real time, and what tokenized private credit needs to get right in its next phase for DeFi.
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💎 THIS EPISODE'S SPONSORS
🔒 KPK | Best risk-adjusted yield through automated vaults

🟠 APYX | The first dividend-backed stablecoin (DBS)

🏦 ALTURA | Bringing the yield institutions kept, to your wallet

👻 MANTLE | Aave V3 is live on Mantle

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets

⚔️ KATANA | Deep liquidity & real yield

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⏱️ TIMESTAMPS
0:00 - Intro
2:53 - How Fasanara thinks about private credit in DeFi
4:58 - What is infiniFi building?
8:28 - What is Noon building?
10:55 - The opportunity for tokenization is huge!
16:31 - What are valid vs overstated concerns about private credit onchain?
20:52 - Why Noon tokenized yield deployed directly into Fasanara
23:25 - How Noon manages liquidity demands with Fasanara exposure
27:22 - Why infiniFi chose to deploy into mGLOBAL on Midas
31:48 - The First Brands stress test on Fasanara and DeFi’s exposure
43:17 - What DeFi must get right in the next phase of tokenized private credit
48:04 - Real-time verification and transparency onchain can improve TradFi
52:53 - How infiniFi is betting more on private credit yield onchain
58:12 - What shouldn't work well onchain
1:01:19 - What’s next on product roadmaps for infiniFi and Noon?
1:04:41 - Closing
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🔗 GUEST LINKS
► Fasanara website: https://www.fasanara.com/
► Fasanara on X: https://x.com/FasanaraCapital
► Noon website: https://noon.capital/
► Noon on X: https://x.com/noon_capital
► Arpan on X: https://x.com/ag_noon
► infiniFi website: https://infinifi.xyz/
► infiniFi on X: https://x.com/infiniFi
► Rob on X: https://x.com/RobAnon
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🎙️ MORE FROM THE EDGE PODCAST AND EDGE NEWSLETTER
► Newsletter: https://the-edge.xyz
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic invested in the seed round for infiniFi. Noon has been a sponsor of The Edge Podcast, but they have never paid for a guest slot. We do NOT offer paid guest slots. We chose Arpan for this roundtable based on his expertise in Fasanara's private credit offering.

Vish is the CoFounder & CEO of Frontera Labs, the developer behind Strata.
DeFi has an abundance of exotic yields. What's been missing is a way to transfer risk between users who want different things. So while risk tranching has existed in TradFi for decades, Strata just made it permissionless.
In this episode, Vish explains how Strata brings risk tranching fully onchain: senior tranches for conservative capital that wants protected yield, junior tranches for risk-tolerant capital earning ~2x the base rate. All enforced by smart contracts. He demos a live Strata market, walks through how the yield split mechanism works under the hood, and explains why mispriced lending yields are DeFi's biggest unsolved problem, and how tranching fixes it.
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💎 THIS EPISODE'S SPONSORS
🔒 KPK | Best risk-adjusted yield through automated vaults

🟠 APYX | The first dividend-backed stablecoin (DBS)

🏦 ALTURA | Bringing the yield institutions kept, to your wallet

🕛 NOON | The highest and safest stablecoin yield, built for the long term

👻 MANTLE | Aave V3 is live on Mantle

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets

⚔️ KATANA | Deep liquidity & real yield

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⏱️ TIMESTAMPS
0:00 - Intro
2:14 - Founding Strata
3:40 - What is tranching?
7:14 - Why tranching products make sense to now take off in DeFi?
13:43 - How Strata tranches risk for DeFi yields
17:05 - How Strata splits yields into junior vs senior tranches
21:49 - Screenshare demo of real Strata market
26:40 - Balancing senior vs junior TVL
29:26 - Tranching vs insurance: what’s the difference?
38:13 - How Strata works with RWAs
42:59 - Strata is addressing DeFi’s big issue: mispriced yields
46:00 - How builders can get started with Strata
49:12 - Closing
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🔗 GUEST LINKS
► Strata website: https://strata.markets/
► Strata on X: https://x.com/strata_markets
► Vish on X: https://x.com/UnQuidPro
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🎙️ MORE FROM THE EDGE PODCAST AND EDGE NEWSLETTER
► Newsletter: https://the-edge.xyz
► Apple: https://tinyurl.com/edgepod
► Spotify: https://tinyurl.com/edgepodspotify
► Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://x.com/DeFi_Dad
► Follow Nomatic: https://x.com/Nomaticcap
► Learn DeFi: http://defidad.com/
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast.