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The Edge

The Edge

De: 4RC
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Join investors and power-users, DeFi Dad and Nomatic from Fourth Revolution Capital (4RC) as they guide through the fast-paced world of crypto, including DeFi, NFTs, Web3 social media, gaming, and more! Gain your own edge from conversations with industry leaders, such as founders, developers, and fund managers who share insights and analysis at the edge of new technology. Whether you're a seasoned pro or just starting your crypto journey, this is the podcast for you.4RC Economía Finanzas Personales
Episodios
  • The Business of Spark: How Sky's Largest Sub-DAO Is Earning $27.8M In A Bear Market | Revenue Meta

    The Business of Spark: How Sky's Largest Sub-DAO Is Earning $27.8M In A Bear Market | Revenue Meta
    Apr 20 2026

    Sam MacPherson is the CoFounder and CEO of Phoenix Labs, the core team behind Spark.

    Some DeFi protocols are burning through reserves, while others wait for the bull market to save them. Spark is doing neither.

    In a new episode of our Revenue Meta series, Sam breaks down the business behind Spark and how it's generating $27.8M in projected annual revenue (up from $23M since recording) across four business channels. We discuss what's being done with the $9.6M protocol surplus to better return value to SPK holders through programmatic buybacks and growth initiatives. We also cover the Spark Liquidity Layer managing over $2.3 billion in DeFi, CeFi, and TradFi. Sam has the latest on their upcoming CeDeFi prime brokerage called Spark Prime and what else is in store to get Spark back to earning a projected $80M in annual revenue.

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    💎 THIS EPISODE'S SPONSORS

    🔒 KPK | Best risk-adjusted yield through automated vaults

    🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets

    🟠 APYX | Enhanced digital credit yield, onchain

    🏦 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

    ⚔️ KATANA | Deep liquidity & real yield

    ⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

    ------
    ⏱️ TIMESTAMPS

    0:00 - Intro
    2:10 - Spark x Sky relationship
    4:03 - Spark products: Spark Savings, Spark Liquidity Layer, SparkLend
    9:22 - Team and operations behind Spark
    10:57 - How does Spark make money?
    13:42 - Spark’s revenue: $23M revenue, $13.6M opex, $9.6M surplus
    20:06 - How Spark DAO uses protocol surplus to return value to SPK holders
    22:14 - Spark DAO treasury and SPK buybacks
    26:56 - Who are Spark’s customers?
    32:57 - Which Spark product is driving more revenue?
    35:23 - Does Sky growth create tailwinds for Spark?
    38:44 - Is Aave’s reputation hit an opportunity for Spark and Sky?
    41:37 - Growth drivers for Spark next
    44:03 - Spark Prime, a CeDeFi prime brokerage
    46:22 - Sam’s growth goals for 2026
    47:53 - Closing

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    🔗 GUEST LINKS

    ► Spark website: https://spark.fi/
    ► Spark Data Hub: https://data.spark.fi/
    ► Spark Financials: https://data.spark.fi/financials
    ► Spark on X: https://x.com/sparkdotfi
    ► Sam MacPherson on X: https://x.com/hexonaut

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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.
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    50 m
  • How Saturn Is Tokenizing Michael Saylor's 11.5% STRC Bitcoin Yield for DeFi | DeFi Frontier

    How Saturn Is Tokenizing Michael Saylor's 11.5% STRC Bitcoin Yield for DeFi | DeFi Frontier
    Apr 15 2026
    Ellis Osborn and Kevin Li are CoFounders of Saturn.This is the first episode in a new series by The Edge Podcast covering emerging DeFi builders. Ellis and Kevin break down how Saturn tokenizes STRC via two onchain assets, USDat and sUSDat. Michael Saylor and his team at Strategy built STRC to pay an 11.5% yield backed by Bitcoin. Saturn is building the DeFi layer on top of this STRC yield.We learn how Saturn's tokenized yield unlocks global access to STRC, higher leverage through the likes of Morpho, yield trading on Pendle, and risk tranching soon through Strata. They share more on why Saylor himself is so excited for what Saturn is working on to distribute STRC yield on Ethereum. We cover why digital credit might be superior to private credit, and how STRC could become "the risk-free rate of onchain finance."------💎 THIS EPISODE'S SPONSORS🔒 KPK | Best risk-adjusted yield through automated vaults🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets🏦 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⚔️ KATANA | Deep liquidity & real yield⚙️ GEARBOX PROTOCOL | Onchain lending reimagined------⏱️ TIMESTAMPS0:00 - Intro2:21 - Saturn CoFounders background4:47 - Why build Saturn?6:57 - Why Michael Saylor’s excited for STRC in DeFi10:14 - Three major DeFi use cases for Saturn: looping, Pendle, and tranching14:59 - How does Saturn distribute STRC yield onchain?15:58 - Where does STRC yield come from?17:06 - Why 2-token design with USDat vs sUSDat18:48 - Is USDat a stablecoin?20:56 - How STRC vs USDat peg works24:29 - The opportunity for STRC to grow alongside $1M BTC28:37 - Demand for STRC digital credit will eat into fixed income31:50 - DeFi is starving for a yield like STRC35:43 - Can STRC become the risk-free rate onchain?37:20 - Saturn means 24/7 trading of STRC onchain39:16 - The impact of perps for STRC41:46 - How far could STRC reasonably drop below $100?43:50 - What’s live now on Saturn?45:23 - Closing------🔗 GUEST LINKS► Saturn website: https://saturn.credit/► Saturn on X: https://x.com/saturn_credit► Ellis Osborn on X: https://x.com/ellisp_osborn► Kevin Li on X: https://x.com/kevinlhr88► Nomatic's write-up on STRC: https://www.the-edge.xyz/p/strc-the-birth-of-bitcoin-credit------🎙️ 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 both have BTC exposure and were angels in Saturn's pre-seed. DeFi Dad and Nomatic do not hold STRC or MSTR.sUSDat is only available to eligible participants outside the United States only.sUSDat holders are currently earning 11.5%+ APY. This is not an offer or solicitation to buy or sell any security in any jurisdiction where prohibited, including to U.S. persons.Nothing in this podcast constitutes investment advice. Yield is not guaranteed and may vary."Backed by Bitcoin" refers to collateral structure only and does not imply capital protection or risk elimination.Saturn's Terms and Conditions https://saturn.credit/legal/terms-conditions
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    47 m
  • Michael Saylor's BTC-Backed STRC Is Coming For A $300T Market

    Michael Saylor's BTC-Backed STRC Is Coming For A $300T Market
    Apr 7 2026

    Chaitanya Jain (CJ) works on the Bitcoin team at Strategy.

    Most people know Strategy for its outspoken BTC bull Founder Michael Saylor and second, for buying billions in BTC, but more of you ought to learn about the financial instruments they've engineered, backed by BTC as digital capital that appreciates over time.

    In this episode, CJ breaks down how Strategy’s flagship STRC works, a perpetual preferred stock with a stable $100 price and 11.5% annual yield paid monthly in tax-deferred cash dividends. We dive into the ambitious plans at Strategy to target a $300 trillion fixed income market with STRC and how that could impact the price of BTC long term. We also dive into how DeFi teams are already tokenizing STRC to bring it onchain.

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    💎 THIS EPISODE'S PARTNERS

    🔒 KPK | Best risk-adjusted yield through automated vaults

    🏙 MAINSTREET | Bringing proven TradFi yield strategies to DeFi markets

    🏦 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

    ⚔️ KATANA | Deep liquidity & real yield

    ⚙️ GEARBOX PROTOCOL | Onchain lending reimagined

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    ⏱️ TIMESTAMPS

    0:00 - Intro
    2:46 - CJ’s background and role at Strategy
    7:23 - What Strategy actually does with Bitcoin
    10:40 - Why Strategy chose to offer perpetual preferred equity
    14:58 - Which Strategy instrument is most senior?
    16:44 - How AI helped design Strategy instruments
    19:18 - What is STRC? Stable price, 11.5% yield, monthly dividends
    23:23 - Where does STRC yield actually come from?
    26:14 - ATM program for raising capital to buy more BTC
    29:21 - How does STRC enable Strategy to accumulate BTC in the bear
    36:49 - STRC could serve $300T fixed income market + the impact on BTC
    41:48 - Difference between MSTR vs STRC investors
    44:36 - Who is buying STRC right now?
    47:04 - Teams tokenizing STRC for DeFi
    51:41 - What are the real risks for STRC?
    55:00 - Would Strategy ever sell BTC?
    57:50 - Why STRC is Strategy’s “iPhone moment”
    1:01:55 - Closing

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    🔗 GUEST LINKS

    ► Strategy website: https://strategy.com/
    ► Strategy on X: https://x.com/strategy
    ► CJ on X: https://x.com/cj_bitcoin
    ► Nomatic's write-up on STRC: https://www.the-edge.xyz/p/strc-the-birth-of-bitcoin-credit

    ------
    🎙️ 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 both have BTC exposure.
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    1 h y 3 m
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