TL; DR
Full story
The best way to introduce people to Web3?
Start by infiltrating their existing habits.
And today we have a great example of such an infiltration:
The Taurus x Lido partnership, which aims to bring Ethereum staking (aka a high-interest savings account for your ETH) to a number of Swiss banks.
It turns out that the customers of these traditional banks want to explore Ethereum staking, but… Also want immediate control over their money (logical).
That’s true liquid bet comes in:
These banks’ customers can buy ETH → stake it to earn around 5% interest per year → get ‘staked ETH tokens’ aka (‘stETH’) in return → then spend this sETH elsewhere.
When they are ready to stake their original Ethereum again, they exchange their sETH tokens for ETH tokens.
(Kind of like going to an arcade and cashing out your tokens for USD when you’re done playing).
Point is: these customers can stake/explore Ethereum while always having crypto tokens at their fingertips – all without ever having to leave the banking app/interface they are used to.
What’s even cooler: Executives at these companies have all said they want to join forces and help create an intersection for Web3 x traditional banking.
If that isn’t institutional adoption, we don’t know what is!