My first tweet thread:

1/ I believe the biggest way to sustainably drive growth in #DeFi is to onboard fiat into the ecosystem. Right now, it seems as if most users of DeFi have some prior experience in crypto.

2/ Most DeFi products are hard to understand and are scary to use for new users. I love that @AndreCronjeTech's reason for building @iearnfinance is that he just wanted to help his family and friends save more money and ended up building up this amazing product. $YFI

3/ Why not abstract this principle out further and make the process easier for new people to join the crypto revolution? My thesis is that cooperation between key DeFi products ( @argentHQ, @Dharma_HQ, @iearnfinance, @NexusMutual) will be the key to this sustained growth.

4/ Main idea: Provide a simple service that returns much greater yield than traditional savings accounts, and is backed by insurance. Ex: Molly deposits $1,000 through a mobile app and can earn 5-10% APY and can withdraw anytime.

5/ Under the hood: Molly onboards $1,000 via a fiat onramp (e.g. @argentHQ or @Dharma_HQ). They send that over to a Yield Maximizer ( @iearnfinance), which uses various Earn/Vault products to earn 10-100% APY. $YFI

6/ These onramps then purchase smart contract cover for the Yield Maximizer via @NexusMutual $NXM. Everyone takes their cut, everyone wins. More capital goes into DeFi. Molly is happy she’s earning more than banks.

Currently Argent and Dharma offer 3% via Maker and Compound. They can offer more eye-popping rates with $YFI.