Blueprints

Symbiotic

The infrastructure behind crypto's most ambitious projects doesn't build itself. Blueprints goes beyond the hype to explore the real stories of founders reshaping decentralized systems, from universal staking protocols to data availability networks to the next generation of blockchain infrastructure. Hosted by Edgar Roth of Symbiotic, each episode dives into the technical decisions, strategic pivots, and hard-won lessons that define how crypto infrastructure actually gets built.

Episodes

  1. FEB 12

    The Risk Layer Powering Institutional DeFi| Hugh Karp of Nexus Mutual

    Smart contract risk never disappeared. In this episode, Hugh Karp, Founder of Nexus Mutual, breaks down why battle-tested protocols still fail, why institutions are embedding cover directly into vaults, and how DeFi coverage is evolving far beyond simple smart contract protection. We discuss lessons from Terra and FTX, the rise of institutional capital in DeFi, leveraged liquidation cover, reinsurance-style second loss tranches, and why risk-adjusted returns are replacing reckless APY chasing. If DeFi wants to scale sustainably, underwriting and capital efficiency have to mature — and Nexus Mutual is building that risk layer for crypto. Topics discussed in this episode: (00:00) Introduction (03:46) Balancer $100M Exploit (08:21) Building on Public Blockchains (10:59) DeFi Coverage Types (14:29) Underwriting DeFi Risk (19:13) Terra & FTX Survival (24:48) Aave Insurance Model (27:17) Crypto Insurance Evolution (30:43) Symbiotic Partnership (34:44) Capital Efficiency & New Assets (39:35) Institutional Entry This episode features guest Hugh Karp, Founder, Nexus Mutual https://x.com/HughKarp Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/officialsymbioticfi - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions." Nexus Mutual, Hugh Karp, DeFi insurance, crypto insurance, decentralized insurance, Balancer exploit, $100M hack, Terra Luna collapse, FTX collapse, Aave insurance, DeFi underwriting, crypto risk management, smart contract cover, blockchain security, Ethereum DeFi, crypto capital efficiency, on-chain insurance, crypto risk protocol, institutional crypto adoption, public blockchains, Symbiotic partnership, crypto risk markets, Web3 insurance, DeFi protocols, crypto safety, crypto protection layer, decentralized risk pool, crypto claims process, DeFi security podcast, blockchain underwriting

    47 min
  2. JAN 29

    Why Most Layer 1 Blockchains Will Fail Long Term | Sandeep Nailwal of Polygon

    Polygon co-founder Sandeep Nailwal breaks down why Ethereum lost its focus, why execution layers are winning, and why most L1s are fundamentally mispriced. He explains Polygon’s real strategy around payments, stablecoins, and fintech, why decentralization extremes don’t work, and how regulation, UX, and capital efficiency will decide the next phase of crypto adoption. Topics discussed in this episode: (03:45) Ethereum Was Too Expensive (08:32) India Builds Despite Regulation (15:05) Shared vs Dedicated Compute (20:06) Ethereum Picked Wrong Battle (26:45) Privacy Must Be Compliant (30:10) L2 Valuations Are Broken This episode features guest Sandeep Nailwal, Co-Founder & CEO, Polygon Foundation Blueprints is hosted by Edgar Roth and is presented by Symbiotic: - Website: Symbiotic - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/@officialsymbioticfi - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions." polygon, sandeep nailwal, polygon founder, polygon network, ethereum, ethereum scaling, execution layer, settlement layer, execution vs settlement, layer 2, l2 crypto, l2 economics, l2 valuations, centralized sequencers, zk rollups, optimistic rollups, crypto scaling, stablecoins, crypto payments, fintech crypto, usdc adoption, real world crypto use, mass adoption, india crypto, crypto regulation india, emerging markets crypto, dollarization, compliant privacy, crypto privacy, institutional crypto, blockchain compliance, crypto economics, validator incentives, decentralization tradeoffs, blockchain infrastructure

    40 min
  3. JAN 15

    The Problem With “Independent” Crypto Media | Raphaël Bloch of The Big Whale

    In this episode of Blueprints by Symbiotic, host Edgar Roth speaks with Raphaël Bloch, co-founder of The Big Whale, about what’s holding institutional crypto adoption back. They unpack why institutions already understand DeFi, how weak transparency and media incentives undermine trust, and why risk management, insurance, and higher standards are now critical. The discussion also covers regulation in Europe and the US, tokenisation and stablecoins, and what needs to change for crypto to scale credibly into global finance. Blueprints delivers unfiltered conversations with builders, analysts, and operators shaping the future of decentralised finance.—and this episode lays out the blueprint for how crypto earns trust at scale. Topics discussed in this episode: (09:51) Being Part of Major Crypto Media in France (15:16) The Crypto Media Landscape & Where We Fit (22:19) Where the Product Goes in 5–6 Years (24:05) Crypto Media’s Role — and Its Dark Side (29:30) What Drove Institutional Adoption (34:31) Will Financial Regulations Change for Crypto (40:30) How Institutions View DeFi Today (44:10) Institutional Demand for Insurance (50:20) Is Crypto Actually Changing Now This episode features guest Raphaël Bloch, Co-Founder, The Big Whale Blueprints is hosted by Edgar Roth and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions." crypto media, institutional crypto, defi adoption, crypto transparency, crypto journalism, defi risk, institutional defi, crypto regulation, tradfi vs defi, crypto insurance, defi risk management, crypto narratives, crypto trust, institutional adoption, crypto standards, defi exploits, tokenization, stablecoins, crypto market intelligence, web3 media, crypto incentives, defi institutions, symbiotic, blueprints podcast, edgar roth, raphael bloch, the big whale, crypto podcast, institutional finance crypto

    57 min
  4. 10/30/2025

    Secrets of Crypto’s Social Layer | Dr. Paul Dylan-Ennis aka Polar (UCD)

    Philosopher and crypto academic Dr. Paul Dylan-Ennis of University College Dublin breaks down the myths, contradictions, and cultural battles shaping the crypto world. From the illusion of decentralization in DAOs to Ethereum’s “populist revolt,” Paul explains how governance really works—and why institutions could be crypto’s greatest threat. We dive into Bitcoin’s ongoing culture war, Ethereum’s shift toward pragmatism, and Solana’s rise as a Silicon Valley-inspired ecosystem. This is a deep look at crypto as a living, evolving subculture that still can’t accept it’s a subculture. Topics discussed in this episode: (00:00) Intro (01:34) Rapid Fire Round (03:14) From Academia to Crypto (13:48) Why Crypto Isn’t Taken Seriously Yet (24:58) The Institutional Adoption Question (30:50) Can Ethereum Be Manipulated? (36:39) Is On-Chain Governance an Illusion? (46:50) Are TGE Models Actually Efficient? (50:57) Ethereum’s Merge and Its New Identity (1:03:07) The Cultural Divide in Crypto This episode features guest Dr. Paul Dylan-Ennis, Lecturer, University College Dublin - School of Business, https://x.com/post_polar_ Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions." Additonal Tags - crypto culture, crypto governance, ethereum governance, bitcoin vs ethereum, paul dylan ennis, blockchain philosophy, decentralization myth, crypto institutions, ethereum pragmatism, dao governance, social layer crypto, ethereum, bitcoin, solana, web3, defi, daos, crypto podcast, crypto academia, onchain governance, cypherpunk, crypto twitter, ethereum community, solana culture, bitcoin governance debate, crypto governance myths, philosophy of crypto, blockchain research, future of web3, #cryptopodcast , #ethereum , #cryptogovernance

    1h 12m
  5. 10/29/2025

    From EdTech Exit to DeFi Empire | Mike Silagadze of Ether.Fi

    In this episode of Blueprints by Symbiotic, host Edgar Roth sits down with Mike Silagadze, co-founder and CEO of Ether.Fi, for a deep exploration into how one of DeFi’s fastest-growing companies is evolving into a full-fledged fintech powerhouse. Mike shares the remarkable story of his transition from building and exiting the edtech giant Top Hat to starting fresh in crypto — driven not by money, but by purpose. He opens up about the moment he realized he didn’t need to work anymore, and why that freedom pushed him to build again — this time, to reimagine global banking on crypto rails. This is a rare founder’s lens into the evolution of decentralized infrastructure, DeFi’s growing pains, and the next frontier — a global, non-custodial banking alternative built on Ethereum. If you’re curious about the future of staking, fintech, and real product-market fit in Web3, this conversation is a must-listen. Topics discussed in this episode: (0:00) Introduction (1:52) Rapid Fire with Mike Silagadze (5:16) From Exit to Ether.Fi (10:57) Liquid Staking Wars (15:33) The Fintech Vision - Expansion (17:20) Key to ether.fi's Growth (24:10) Is restaking d3ad? (29:59) Web3 Expansion (46:23) Evolving Beliefs This episode features guest Mike Silagadze, Co-founder and CEO at Ether.Fi, https://x.com/mikesilagadze Blueprints is hosted by Edgar Roth, https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions." ether.fi, mike silagadze, blueprints podcast, symbiotic podcast, edgar roth, defi podcast, blockchain podcast, ethereum staking, restaking, crypto founders, web3 builders, defi fintech, decentralized finance, staking, lido vs ether.fi, crypto innovation, web3 banking, crypto banking alternative, future of finance, defi evolution

    50 min
  6. 10/03/2025

    What Institutions Need To Come Onchain | Abhishek, CEO of Catalysis Network

    Abhishek Kumar, co-founder and CEO of Catalysis, joins to discuss why onchain risk coverage is the missing piece for institutional DeFi. From staking and shared security to programmable insurance pools, Catalysis is building infrastructure that transforms billions in restaked capital into active protection for lending markets, stablecoins, and real-world assets. We cover Abhi’s journey from Ethereum protocol development to launching Catalysis, the pivot from SDK tooling to institutional-grade insurance, and why institutions won’t move serious capital onchain without coverage. Topics discussed in this episode: (0:00) Introduction (2:32) Rapid Fire: Hot Takes & Hard Lessons (5:36)From Web2 to Ethereum Core to Founder Mode (12:01) The Pivot: From SDKs to Onchain Insurance (21:43) How Cover Pools Actually Work (33:04) Infra vs Frameworks vs Apps: Where Crypto Builders Should Play (41:48) Evolving Views about the space This episode features guest Abhishek Kumar, Founder and CEO at Catalysis Network, https://x.com/xenowits Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions."

    48 min
  7. 09/19/2025

    TVL, Incentives, and the Future of Risk Management in Crypto with Gauntlet

    Carson Brown, Senior Product Manager at Gauntlet, breaks down how risk really works in DeFi. From the evolution of shared security to the rise of risk curation, he explains why liquidity concentration is more dangerous than people think, why institutions may have lower risk appetite than expected, and how stablecoins and incentives are reshaping the space. This episode is a deep dive into the future of restaking, insurance protocols, and the role of risk managers in keeping DeFi sustainable. Topics discussed in this episode: (0:00) Introduction (3:35) Rapid Fire Q&A (5:05) Carson’s Path into Crypto (9:03) Inside Gauntlet’s Restaking Team (16:27) The Overlooked Risk Metric (24:34)Would TVL Survive Without Incentives? (27:26) Evolution of Shared Security (37:07) Stablecoin Staking Insights (46:10) Balancing Growth and Trust This episode features guest Carson Brown, Senior Product Manager at Gauntlet, https://x.com/carsonmbrown Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions."

    53 min
  8. 09/05/2025

    From MakerDAO to Spark: Building the Next Era of DeFi with Symbiotic

    Sam McPherson, co-founder of Phoenix Labs and Spark Protocol, explores the future of stablecoins, Spark’s role as DeFi’s liquidity layer, and how billions in capital are being allocated across DeFi, TradFi, and centralized markets. The conversation covers Spark’s evolution from lending markets to the liquidity layer, the role of Sky and its subDAOs, stablecoins as the black hole pulling TradFi on-chain, and how Symbiotic staking strengthens Spark’s security. We also discuss why yield-bearing stablecoins may define the next decade of crypto. Topics discussed in this episode: (0:00) Introduction (9:28) Evolution of Stablecoins (13:11) Capital Allocation on Spark (17:42) Rewards vs. Risk: Finding the balance (20:56) The link between Sky and Spark (34:42) TGE Advice for Founders (36:57) Competition in the Stablecoin market (46:11) Is there room for more Stablecoins? This episode features guest Sam MacPherson, CEO of Phoenix Labs https://x.com/hexonaut Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions.

    49 min
  9. 08/20/2025

    Why Lido Became the Dominant Staking Protocol with Dmitry Gusakov

    Dmitry Gusakov, tech lead for community staking at Lido, joins the Blueprints Podcast to unpack the future of Ethereum staking. We dive into why Lido became the dominant staking protocol, the evolution of decentralization, and how the Community Staking Module empowers home stakers. Dmitr also breaks down Lido V3 and why institutions and solo validators both matter for Ethereum’s resilience. Topics discussed in this episode: (4:04) Dmitry's Story (12:47) Incentives Driven Market (16:16) Lido Hurting Ethereum’s Decentralization? (18:19) Opening to Unlimited Validators (23:17) Ethereum’s Evolution (32:15) CSM v1 to v2- Design changes (47:08) Can Ethereum Decentralize all layers? (53:29) Lido V3 Explained This episode features guest Dmitry Gusakov, Tech Lead, Lido Finance https://x.com/d_gusakov Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions."

    1h 4m
  10. 08/07/2025

    Cap's Founder on TradFi, DeFi, and Building a Stablecoin That Won't Default

    Benjamin Sarquis Peillard, founder of Cap, explains the evolution of stablecoin models—Types 1 and 2—and how Cap is developing a yield-bearing Type 3 stablecoin with verifiable guarantees on Symbiotic. He explores the shortcomings of traditional yield-generating stablecoins, the risks of unchecked token incentives, and how Cap leverages Symbiotic's redistribution mechanism to create a fundamentally safer design. This episode examines Cap's role in connecting traditional finance and DeFi, reveals why institutional players often understand DeFi better than most VCs, and discusses the future landscape of risk and yield in a multi-chain, multi-stablecoin ecosystem. Topics discussed in this episode: (6:38) Money Flow in Cap (9:39) Building on New Crypto Tech (13:46) TradFi x DeFi Bridge (18:44) Vault Curators' Role (24:07) LRTs Playing Safe (29:11) MEGAETH (31:43) Regulatory Clarity & Innovation This episode features guest Benjamin Sarquis Peillard, Founder & CEO, Cap Labs https://x.com/Benjamin918_ Blueprints is hosted by Edgar Roth https://x.com/roth_edgar and is presented by Symbiotic: - Website: https://symbiotic.fi/ - X: https://x.com/symbioticfi - YouTube: https://www.youtube.com/symbioticfiofficial - Discord: https://discord.com/invite/officialsymbioticfi - Blog: https://blog.symbiotic.fi The information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions."

    43 min
  11. 07/24/2025

    Why Jon Kol Left Wall Street to Build a Modular Crypto Future

    Hyperlane CEO Jon Kol breaks down why today’s crypto needs more than just rollups and bridges. Jon shares how personal frustration with banks fueled his mission, how working at Galaxy gave him the on-chain perspective, and why modularity isn’t just a buzzword—it’s a design principle. From launching Hyperlane to challenging the closed, permissioned status quo, Jon lays out a clear vision for a chain-rich, interoperable crypto ecosystem. Topics covered in this episode: (0:00) Introduction (3:56) Rapid Fire (6:49) Jon’s biggest L on chain (7:49) Crypto Prediction for 2025 (9:10) Jon’s Journey into Crypto (17:46) What sets Hyperlane apart (24:50) Toughest lesson learnt (36:54) Core unique feature of Hyperlane (42:58) TGE and advice for protocol founders (54:39) Has Crypto lost its way This episode features guest Jon Kol, CEO of Hyperlane. Episode links: Hyperlane WebsiteHyperlane XBlueprints is hosted by Edgar Roth and is presented by Symbiotic: WebsiteXYouTubeDiscordBlogThe information provided in this podcast is for informational purposes only and should not be considered financial, investment, legal, or tax advice. The views and opinions expressed by guests and hosts are their own and do not necessarily reflect those of the podcast producers, partners or sponsors. Cryptocurrency and digital asset investments are highly volatile and carry risk. Always do your own research and consult with a qualified financial advisor before making any investment decisions.

    59 min

About

The infrastructure behind crypto's most ambitious projects doesn't build itself. Blueprints goes beyond the hype to explore the real stories of founders reshaping decentralized systems, from universal staking protocols to data availability networks to the next generation of blockchain infrastructure. Hosted by Edgar Roth of Symbiotic, each episode dives into the technical decisions, strategic pivots, and hard-won lessons that define how crypto infrastructure actually gets built.