Native
Archetype 1 highlights.
Last updated
Archetype 1 highlights.
Last updated
A Crypto Native is any person who currently engages in and with Crypto, but more specifically; the DeFi space.
Pioneering warriors at heart, they are unafraid of the perceived risk surrounding the space or the technical complexities reflected in early explorations of the technology. Natives are comfortable with optionality and happiest when they have full, unrestricted control over their digital assets.
During the prototype phase of our design development, we encountered competing interests between the desire to compound assets and the need to generate unimpeded (saleable) liquid cash-flow. These two competing requirements demanded recognition of two subgroups within the Native archetype:
and .
'It should be noted that the Ape and Degen subdivisions are not distinct, they are each points along the spectrum of what constitutes a Native.'
Definition. An Ape is a Crypto Native with some or all of their focus on cash-flow.
More pragmatic than their Degen siblings, due perhaps to them having more real-world concerns and/or obligations to manage. However, regardless of these external pressures, Ape’s will always prefer an element of their portfolio receivables to come from a highly liquid source that does not have a direct impact on their holdings if sold. In other words:
‘Receivables in the same form as those assets their investments are held, is seen as a conflict of interest and can prohibit participation.’
Ape’s do not appreciate being referred to as mercenaries but will adopt the behaviour if no other options are available to them. Hence their preference for receivables to be in forms different to that of those assets that make up the primary constituents of their portfolios.
Definition. A Degen is a Crypto Native with some or all of their focus on compounding.
More idealistic than their Ape siblings, Degen's believe in the future growth of the Crypto space with such reverence that they, in the main, disregard USD valuations associated with their holdings. Hence the affinity to compounding.
With an extremely high tolerance for risk, Degen's are often first movers and adopters of new platforms and projects. While some view this as reckless, the fact they have explored such spaces ahead of the crowd gives them special insight the crowd likely never attains. Those Degen's who learn to hone these experiences are often found amongst the most successful wallets on chain.
Another point of differentiation with their Ape siblings, is that Degen's do not react negatively when referred to as mercenaries. In some instances, it is seen as a badge of honour. One insight gleaned suggests that while Degen's focus on compounding, this trait is limited only to those assets which hold a particularly special place within their portfolios.
'This reveals the notion of ‘concentrated compounding’ and suggests APR is more than a key deciding factor but a strategic play, as a means to boost compounding efforts.