The Edge Podcast

Benjamin is the Founder of Cap and DeFi Dave is the Founding Head of Growth.
Token launches are broken. Founders pay exchanges 5-10% of supply, airdrop to farmers who dump immediately, and wonder why everything goes to zero. Benjamin calls it "the conveyor belt to death." Cap is breaking the playbook: no CEX listing fees, no token airdrops, and no TVL deals paid in tokens. Instead, they're doing the first-ever Stabledrop—$12 million in stablecoins to early supporters, funded by their upcoming ICO on Uniswap.
In this episode, we cover:
+ Why the status quo token launch playbook leads to death
+ The Stabledrop: How $12M in stablecoins rewards early users
+ Cap's three rules: No airdrops, no CEX fees, no token TVL deals
+ ICO mechanics on Uniswap and who's eligible
------
💎 THIS EPISODE'S PARTNERS
🌅 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

🏦 MANTLE | MNT is now live on Solana

🐡 PUFFER INSTITUTIONAL | ETH staking solutions for scale

⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

------
⏱️ TIMESTAMPS
0:00 - Intro
1:34 - Breaking the playbook: Cap's three fundamental rules
15:54 - What is Cap and how it works?
16:49 - The Stabledrop: Airdrops reimagined with stablecoins
18:17 - How founders and the community responded
19:24 - How is the Stabledrop calculated?
25:06 - Homestead Program: Double points in first month
27:21 - How the $12M Cap Stabledrop works
29:44 - CAP ICO mechanics: How the Uniswap sale works Feb 9th
35:50 - Closing
------
🔗 GUEST LINKS
► Cap website: https://cap.app/
► Official Cap Stabledrop details announced: https://x.com/capmoney_/status/2019079426823303371?s=20
► Cap on X: https://x.com/capmoney_
► Cap Labs Limited on X: https://x.com/caplabslimited
► Benjamin on X: https://x.com/Benjamin918_
► DeFi Dave on X: https://x.com/defidave22
------
🎙️ 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. DeFi Dad and Nomatic invested in the Cap seed round.

Grant is the Founder & CEO of Blocmates, and 563 is Head of Research.
Crypto is winning, but tokens aren't. Headlines that would have pumped markets 30-40% in 2021 barely move prices today. There's a massive disconnect between fundamentals and price action--record adoption, institutional integration, real-world use cases, yet token prices are bleeding. Grant and 563 break down why this paradox exists, where the industry goes from here, and what actually matters this year in their newly published Blocmates 2026 Thesis.
In this episode:
+ The paradox: Why fundamentals are up but token prices are down
+ Token distribution and fixing tokenholder rights for real ownership
+ Why we don't need more L1s and what wins: distribution or innovation
+ ZK as the unlock for Ethereum scaling and new on-chain products
+ Where Blocmates is deploying capital in 2026
------
💎 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

------
⏱️ TIMESTAMPS
0:00 - Intro
1:40 - Blocmates 2026 thesis overview
4:37 - Crypto is winning, tokens aren’t, the paradox explained
16:53 - The token distribution problem: founders vs. community expectations
21:06 - Why we don't need more general-purpose chains
23:41 - Distribution vs. innovation: What wins in 2026?
29:45 - Will TradFi rebuild, acquire, or partner with DeFi?
34:28 - Fixing tokenholder rights: Tokens as real ownership
41:29 - x402 is the start of something big
45:32 - How ZK unlocks Ethereum scaling and new onchain products
53:06 - Why demand for onchain privacy is coming
56:33 - Could RWAs become the most traded assets onchain?
1:00:18 - Why regulation could be crypto's biggest catalyst
1:03:20 - Where Blocmates is deploying capital in 2026
1:06:56 - Closing
------
🔗 GUEST LINKS
► Blocmates website: https://blocmates.com/
► Blocmates on X: https://x.com/blocmates
► Grant on X: https://x.com/Grantblocmates
► 563 on X: https://x.com/563defi
► The Blocmates 2026 Thesis: https://www.blocmates.com/articles/the-blocmates-2026-thesis
------
🎙️ 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.

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
------
💎 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

------
⏱️ 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
------
🔗 GUEST LINKS
► Veda website: https://veda.tech/
► Veda on X: https://x.com/veda_labs
► Sun Raghupathi on X: https://x.com/sunandr_
------
🎙️ 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. 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
------
💎 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

------
⏱️ 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
------
🔗 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
------
🎙️ 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
------
💎 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

------
⏱️ 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
------
🔗 GUEST LINKS
► Tyler on X: https://x.com/Tyler_Neville_
► Forward Guidance on X: https://x.com/ForwardGuidance
------
🎙️ 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.