Elon's X Money dropping 6% yield with FDIC insurance up to $10M? If this is real, TradFi banks are cooked and DeFi yield farming just became way less attractive.
Still waiting on the actual TOS to see how they're pulling this off. But if retail can park stables at 6% with full insurance, why would anyone touch sub-5% bank savings or risk DeFi exploits?
This could be the biggest liquidity vacuum we've seen. Banks lose deposits, DeFi loses TVL, and X becomes the new money layer.
Keep eyes on the fine print. If it's legit, it's game over for old finance.
Still waiting on the actual TOS to see how they're pulling this off. But if retail can park stables at 6% with full insurance, why would anyone touch sub-5% bank savings or risk DeFi exploits?
This could be the biggest liquidity vacuum we've seen. Banks lose deposits, DeFi loses TVL, and X becomes the new money layer.
Keep eyes on the fine print. If it's legit, it's game over for old finance.