A great misconception is that @CurveFinance is an exchange. That's only one business, and it's marginal in many regards compared to what I see as primary. There's 5 businesses in crypto and Curve is all: 1) Foreign exchange 2) Credit 3) Derivatives 4) Liability printing 5) Liquidity financing Everything and anything you see in crypto will fit one of those categories. The biggest business in the world is liability printing, it's a multi trillion dollar per year global banking business that is historically uninvestable on stock markets. Curve is complete vertically integrated dollar liability infrastructure. There is nothing comparable in traditional finance, and certainly nothing comparable that is publicly investable.