Our portfolio company Code shipped a product last month that does something pretty interesting. It takes a little bit from three well-understood crypto concepts and combines them into something new. Like memecoins, anyone can create a new crypto asset in Flipcash. But unlike memecoins, these assets have a reserve and are price-stabilized at their initial value, meaning they can't go all the way to zero. And like Bitcoin, there is a fixed supply of each of them.

The Flipcash website does a good job of explaining all of this as you scroll down the page.

Unlike stablecoins, these currencies can and do appreciate. The more they are accumulated, the higher the price goes.

And you can use these currencies to send/pay others.

I like to think of it as "Venmo With Upside".

A bunch of currencies have been created in the app and a few have grown their values above $100k already.

Some of my favorite currencies are DadCash for dads that hang out together to pay each other and BadBoys for "people who believe basketball should be played the Detroit way".

There are onramps available for ApplePay and GooglePay using debit cards and they are working on offramps now.

The idea is anything you use Venmo for, you can use Flipcash for. But when you use Flipcash, you can enjoy currency appreciation (and depreciation of course).

I am excited to use it for betting with friends on sports and golf and other stuff.

If you want to try it you can download it from the Flipcash website.