Inside Ethena's New Neobank built Exclusively on AVAX

EthenaPay is live exclusively on Avalanche.

In this episode of Layer One, Ethena Founder Guy Young sits down with The Block’s Kelvin Sparks and Ava Labs’ John Nahas to walk through their new consumer app built around three jobs — ‘save, send, spend.’

Young traces Ethena from on-chain DeFi distribution to a mobile app that owns the last mile. Nahas’s pitch for the chain underneath is invisible adoption: technology built for businesses, with a path from the C-Chain to an application-specific L1 if a partner outgrows shared blockspace.

Kelvin Sparks –
John Nahas –
Guy Young –

Chapters
00:00 Open
02:10 EthenaPay Overview
03:10 Save, Send, Spend
06:25 Why Avalanche
09:04 Direct to Consumer
13:20 Invisible Adoption
18:00 Why Ethena No chain
21:02 C-chain today, own L1 if needed
24:54 EthenaPay versus other crypto neobanks
27:46 Embedded finance, off the crypto island
36:06 RWA perps after TradeXYZ
39:18 Black Opal, payments, next year on Avalanche
42:00 Buybacks, labs IP under the foundation
43:33 Close

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