The Edge Podcast

Sun Raghupathi is CoFounder and CEO of Veda.
DeFi is living through interesting times: record adoption, proven infrastructure, institutional interest—but low sentiment and struggling token prices. Sun calls this "the enterprise era for DeFi," where protocols that don't have a B2B strategy for the largest financial institutions may not survive. But here's the opportunity: for the first time, DeFi is actually ready for mainstream users. In fact, Kraken just launched new DeFi Earn vaults powered by Veda, giving millions of users instant access to onchain yields without leaving the Kraken app.
In this episode, we cover:
+ DeFi's enormous future in enterprise partnerships and distribution
+ How Veda vaults work: custody, risk management, and yield strategies
+ Breaking down Kraken's new DeFi Earn vaults
+ Veda's business model and path to profitability
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💎 THIS EPISODE'S PARTNERS
♉︎ TOROS | Exponential gains with leveraged tokens

🌅 NEUTRL | The next generation of crypto-native yield

🛡️ ACCOUNTABLE | Real-time financial verification

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

⚔️ KATANA | Deep liquidity & real yield

🔊 DECIBEL | The new sound of trading

🥞 SYRUPUSDC BY MAPLE | DeFi's premium yield asset

🏦 MANTLE | Innovating the future of onchain finance

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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⏱️ TIMESTAMPS
0:00 - Intro
1:52 - DeFi’s identity crisis, record adoption vs sentiment
5:35 - The value capture question, DeFi protocols or institutions?
6:47 - Will businesses build or partner?
12:15 - Enterprise DeFi predictions for 2026
15:05 - What are vaults and why does DeFi need them?
17:35 - Not all vaults are created equally
21:36 - Veda's evolution from ether.fi to enterprise vaults
27:16 - Breaking down Kraken DeFi Earn, powered by Veda
29:33 - Kraken DeFi Earn vault details
38:21 - Human vs. AI curation for DeFi vaults
40:36 - Integrating AI into Veda's vault system
42:22 - What institutions need from Veda
43:52 - Veda’s business model and path to profitability
47:24 - Veda’s partners: ether.fi, Plasma, Mantle, and more
49:29 - Will there be a VEDA token?
50:02 - Closing
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🔗 GUEST LINKS
► Veda website: https://veda.tech/
► Veda on X: https://x.com/veda_labs
► Sun Raghupathi on X: https://x.com/sunandr_
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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 invested in the seed round for Veda.

TN Lee is CoFounder and CEO of Pendle.
Pendle generates revenue through two streams: YT fees (5% of all yield and points accrued) and swap fees from PT trading activity. The protocol settled $45 billion in value for PT holders in just 2025, nearly doubling revenue YoY as TVL grew from $6.9B to $13.4B. But the real story for 2026 is Boros, Pendle's new rates trading platform that's already hit $200M in open interest and is positioning itself as infrastructure for the explosive growth in onchain RWA and equity perps.
In this episode of Revenue Meta, we cover:
+ Pendle's dual revenue model
+ Why vePENDLE is being replaced with sPENDLE
+ How Boros enables traders to hedge funding rate risk on CEX/DEX perps
+ 2026 growth strategy: RWAs, institutional adoption, and rates trading at scale
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💎 THIS EPISODE'S PARTNERS
♉︎ TOROS | Exponential gains with leveraged tokens

🌅 NEUTRL | The next generation of crypto-native yield

🛡️ ACCOUNTABLE | Real-time financial verification

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

⚔️ KATANA | Deep liquidity & real yield

🔊 DECIBEL | The new sound of trading

🥞 SYRUPUSDC BY MAPLE | DeFi's premium yield asset

🏦 MANTLE | Innovating the future of onchain finance

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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⏱️ TIMESTAMPS
0:00 - Intro
1:40 - What are Pendle V2 and Boros?
5:58 - YoY growth in 2025
8:40 - Pendle's dual revenue model, swap fees and YT fees
9:42 - TVL vs volume as drivers for revenue
11:18 - $45B in value settled for PT holders
12:42 - The October 10th flash crash and its impact
17:05 - Why the vePENDLE model needed to change
23:49 - Introducing sPENDLE
31:16 - The team behind Pendle
33:44 - Pendle's target customers in 2026
35:42 - Growth strategy and goals for 2026
41:51 - Key trends for 2026: RWAs, rates trading, and equity perps
45:20 - How traders use Boros to hedge funding rate risk
48:50 - Closing
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🔗 GUEST LINKS
► Pendle website: https://pendle.finance/
► Boros website: https://boros.pendle.finance/markets
► Pendle on X: https://x.com/pendle_fi
► Boros on X: https://x.com/boros_fi
► TN Lee on X: https://x.com/tn_pendle
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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/
------
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.

The social contract is broken. Boomers keep getting bailed out while Millennials and Gen Z are told to buy bonds that yield less than inflation. Tyler Neville from Muddy Waters Capital and co-host of Forward Guidance, breaks down why traditional markets feel rigged, where real growth is happening, and what needs to happen for Bitcoin to break through $100K.
In this episode:
+ Why traditional markets feel rigged and the 60/40 portfolio is dead
+ Frontiers to invest in: AI, space, energy, nuclear, and crypto
+ How interest rates and bond volatility affect crypto
+ What Bitcoin needs for new highs and the next mega bid for crypto
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💎 THIS EPISODE'S PARTNERS
♉︎ TOROS | Exponential gains with leveraged tokens

🌅 NEUTRL | The next generation of crypto-native yield

🛡️ ACCOUNTABLE | Real-time financial verification

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

⚔️ KATANA | Deep liquidity & real yield

🔊 DECIBEL | The new sound of trading

🥞 SYRUPUSDC BY MAPLE | DeFi's premium yield asset

🏦 MANTLE | Innovating the future of onchain finance

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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⏱️ TIMESTAMPS
0:00 - Intro
1:49 - Tyler's background and macro perspective
4:07 - The 2026 macro landscape, how Boomers broke the system
10:21 - Why markets feel rigged and the illusion of free markets
18:10 - Where real growth is: space, AI, energy, and nuclear
23:01 - Why bonds are dead for Millennials and Gen Z
35:03 - Why we’re moving back to building real things
40:26 - How interest rates and bond volatility affect crypto
45:35 - Gold, silver strength, and what Bitcoin needs for new highs
49:28 - What DeFi should have been (and can still become)
52:17 - The next mega bid for crypto
57:16 - Closing
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🔗 GUEST LINKS
► Tyler on X: https://x.com/Tyler_Neville_
► Forward Guidance on X: https://x.com/ForwardGuidance
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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/
------
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.

Chris Bradbury and Jordan Jackson from Summer.fi break down how vaults are becoming the consumable layer for DeFi yield and why institutions are finally paying attention.
DeFi yield hunting is exhausting. Constant research, endless transactions, protocol risk assessment: it's a full-time job. Summer.fi helps solve this by packaging the best yields into vaults with DAO-managed risk controls, allowing users to deposit once and earn passively.

In this episode, we cover:
+ How Summer curates and automates access to top-tier DeFi yields
+ DAO governance and risk management
+ Summer's institutional strategy and how fintechs can customize vault strategies
+ SUMR token launch on Aerodrome and what's coming in 2026
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💎 THIS EPISODE'S PARTNERS
♉︎ TOROS | Exponential gains with leveraged tokens

🌅 NEUTRL | The next generation of crypto-native yield

🛡️ ACCOUNTABLE | Real-time financial verification

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

⚔️ KATANA | Deep liquidity & real yield

🔊 DECIBEL | The new sound of trading

🥞 SYRUPUSDC BY MAPLE | DeFi's premium yield asset

🏦 MANTLE | Innovating the future of onchain finance

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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⏱️ TIMESTAMPS
0:00 - Intro + What is Summer.fi?
2:58 - SUMR token design and structure
8:36 - Making SUMR transferrable and Aerodrome launch
15:07 - Curating the highest quality yields from top-tier protocols
20:52 - Risk management and protocol curation
33:29 - Institutional strategy and B2B integrations
39:56 - How institutions customize their vault strategies
45:13 - What’s coming in 2026, DAO-managed vaults and new yield sources
51:02 - Closing
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🔗 GUEST LINKS
► Summer.fi website: https://summer.fi/
► Summer Finance on X: https://x.com/summerfinance_
► Chris Bradbury on X: https://x.com/chrisbducky
► Jordan Jackson on X: https://x.com/samehueasyou
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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/
------
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.

Introducing Revenue Meta—a new series by The Edge Podcast spotlighting DeFi protocols that actually generate cashflows and return value to tokenholders.
There aren't many protocols that can answer the simple question: How does your business make money? We're starting with Maple Finance, where CoFounder & CEO Sid Powell breaks down their revenue model, treasury management, and path from $30M to $100M ARR.
In this episode:
+ How Maple generates revenue through over-collateralized lending
+ Revenue allocation: treasury management, buybacks, and building strategic reserves
+ The roadmap to $100M ARR and how they grow their loan book
+ Why Maple is a pure token play, no hidden equity, all value flows to SYRUP holders
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💎 THIS EPISODE'S PARTNERS
♉︎ TOROS | Exponential gains with leveraged tokens

🌅 NEUTRL | The next generation of crypto-native yield

🛡️ ACCOUNTABLE | Real-time financial verification

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

⚔️ KATANA | Deep liquidity & real yield

🔊 DECIBEL | The new sound of trading

🏦 MANTLE | Innovating the future of onchain finance

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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⏱️ TIMESTAMPS
0:00 - Intro
5:16 - How Maple generates revenue
7:20 - Maple revenue allocation and treasury management
9:59 - Building Maple’s strategic reserve
12:23 - How big must the book of loans grow to reach $100M ARR?
13:29 - Strengthening Maple's balance sheet
16:04 - Maple’s business is very scalable
18:01 - The napkin math on Maple’s ARR growth from syrupUSDT
21:40 - Operating under pro-crypto regulation
24:30 - New products and innovations coming to Maple
29:04 - SYRUP, one token for the Maple ecosystem
30:39 - Closing
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🔗 GUEST LINKS
► Maple website: https://maple.finance/
► Maple on X: https://x.com/maplefinance
► Sid on X: https://x.com/syrupsid
► Maple Dune dashboard: https://dune.com/maple-finance/maple-finance
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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/
------
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.