TLDR Crypto · MISCELLANEOUS

THE FRICTION TAX

obviously.substack.com7 min read

Summary from the TLDR Crypto newsletter

Legacy credit card infrastructure causes a 5% monthly failure rate, driving significant involuntary churn. Transitioning to programmable smart contract wallets eliminates these failures, improving net revenue retention and gross margins. This shift is critical as AI-driven usage-based pricing increases billing frequency and potential failure points.