Morpho price

A conversation between Wang Xiaolou and Aishwary: The value of Polygon comes from "putting money to work," not just "moving money around." How do you determine if a blockchain is valuable? Is it based on transaction numbers or something else? — Wang Xiaolou It's not about "how many steps it has run," but rather "what can be done after it has run." Payments are just the starting line. A chain that only moves money is like a moving company: once the goods arrive, they leave, with no retention, no combination, and no value capture; only chains that can "retain and utilize money" have substantial value. It's like bringing water in isn't an achievement; being able to turn that water into electricity, irrigation, or fish farming is what constitutes an industrial chain. — Aishwary Why do you say that chains focused solely on payments can't achieve high valuations? — Wang Xiaolou Because they are interchangeable "pipelines." In the past, MoneyGram and Western Union relied on monopolizing the entry and exit channels and exchange rate spreads; once blockchain commoditized transfer costs, the moat disappeared, leaving only "cheaper." The endpoint of "cheaper" is a price war, and the endpoint of a price war is thin profits. — Aishwary So what exactly is Polygon aiming for? — Wang Xiaolou It's about "activating money." Turning every balance on the network into programmable capital: it can be consumed, borrowed, invested, settled, paid as wages, and can flow across borders. The same stablecoin can be used to remit money in Nigeria today, do DeFi in Singapore tomorrow, and buy NFTs in Paris the day after. Money is no longer just moving around; it starts to "work." — Aishwary Is there a more intuitive analogy? — Wang Xiaolou Think of payment chains as "highways" where vehicles pay a toll and move on; think of Polygon as a "city hub": the highways connect factories, shopping malls, banks, and schools. Vehicles entering the city don't just pay a toll; they come to do business, borrow money, invest, shop, and receive wages. The more prosperous the city, the more willing vehicles are to stay, the thicker the tax base, and the more valuable the assets. — Aishwary Why are there so many partners? Is it really useful? — Wang Xiaolou Every partnership expands the "scenarios where money can work," not just the "places money can reach." In Europe, there's Revolut; in Latin America, there's Mercado Libre and Nubank; in Africa, there's Flutterwave and Yellow Card; and there's Deel for payroll, Railgun for privacy, Morpho for lending, and BlackRock's BUIDL for RWA. They act like sockets, connecting funds to the real economy and financial products, turning balances into devices and production capacity. — Aishwary Some people always bring up "gas fee growth" as an issue; isn't that a valid metric? — Wang Xiaolou Gas is like a ticket; it only indicates that people have come; what's more critical is "what the visitors did." If we only verify "traffic," the valuation resembles infrastructure; if we can verify "retention, reuse, and combination," the valuation resembles a platform and ecosystem. Looking further ahead, we need to consider "economic density": how many effective transactions each dollar can undergo on the chain, and how much asset and credit it can accumulate. — Aishwary So what's the valuation logic? — Wang Xiaolou There's a rule in fintech: a "super stack" with use cases and users is worth 5-10 times more than a "pipeline" that only serves as a channel. Because it doesn't just transport value; it participates in value creation and distribution. Polygon's design treats payments as the foundation, layering lending, investment, commerce, identity, settlement, and other practical layers on top. The more practical it is, the more liquidity it generates; the more liquidity, the more retention; the more retention, the more network value naturally increases. — Aishwary Does this sound like a "global version of Revolut"? Isn't that a bit exaggerated? — Wang Xiaolou It's not exaggerated, but it should be noted: from day one, it has been a "global network." Traditional wallets are mostly regional versions; Polygon is a programmable financial layer that spans markets and applications. Just as Visa/Mastercard created a "universal payment network," Polygon aims to create a "universal financial operating system," allowing money to access different modules globally at any time. — Aishwary In the long run, how should ordinary people assess the prospects of such networks? — Wang Xiaolou Don't focus on short-term transaction fees and peak TPS; focus on "usability compounding": Can money earn returns, gain credit, and buy tokenized shares of physical assets? Can it flow seamlessly across countries and applications without losing functionality? Can it turn a single consumption into two transactions, three combinations (payment → lending → investment)? When these pathways become routine, the network is no longer just a "crossroad" but an "economic district." The more prosperous the district, the more valuable the foundation. — Aishwary In summary, what would you say? — Wang Xiaolou "Don't count transactions, count usability." When money on Polygon is not just moving but participating in work, earning returns, and building credit, the network's value shifts from thin profit margins to a robust tax base for the city. — Aishwary @sandeepnailwal @0xPolygon