#18: Luca Prosperi, M^0 | Reimagining Money & the Future of Stablecoins

How are stablecoins reshaping the financial stack?Ryan chats with Luca Prosperi about reimagining the financial stack from first principles, why separation between money creation and distribution matters, and how M^0's enables both DeFi protocols and fintech apps to build better products.Follow our guests: https://x.com/LucaProsperihttps://x.com/m0foundationAnd try out Wallfacer’s latest release: https://app.vaults.fyiFollow our host: https://twitter.com/RyanRodenbaughhttps://warpcast.com/ryanrodenbaugh.ethTimestamps00:00 - Luca's crypto red pill03:03 - The philosophy of money07:21 - Understanding modern banking12:14 - Reflections on working with MakerDAO17:24 - The current state of RWAs21:52 - The belief behind M^030:28 - $M's role as wholesale money38:04 - How M^0 manages collateral41:40 - Composability and $M44:47 - M^0's pitch for GTM success47:37 - The economics of stablecoin issuers53:58 - M^0's two token governance model58:32 - The economics of M^01:00:52 - Levelling up crypto monetary infrastructure1:04:27 - Closing predictions on DeFi This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit wallfacerlabs.substack.com