As software gets easier to build, the bottleneck moves downstream: trust, liquidity, and distribution. For fintech and stablecoin startups, the harder questions are: > How do you earn trust? > Where does liquidity come from? > Who already has the users you need? > Which market can you become indispensable in first? A strong early wedge often comes from concentrated distribution. From @AlexLWitt at our @EASYResidency workshop.(YZi Labs)