TLDR Tech / Crypto
The Next Stage of Nook
The savings platform Nook processed $500M+ in transactions across 4+ chains in its first nine months, but yield compression revealed a structural product gap – lending APY fell from 10.5% to 3.56% as capital flooded into the same eight yield sources the platform offered. The team identified the product as too simple and too opaque about how DeFi yield actually functions, prompting a pivot to 950+ Morpho vault sources across 8+ networks, earlier access to nascent high-yield markets, Curator Profiles for vault-level transparency, and multi-source allocation letting users split deposits across providers. 84% of transactions originated from bank transfers rather than crypto wallets, with users executing 20,000+ automated rebalances, confirming TradFi capital as Nook's dominant inflow rather than existing on-chain users.
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