Apologies for the delayed response, busy times! From Narrative to Reality Appreciate it. We do measure output, but not just in terms of reach or impressions. What matters more is the quality of what follows: inbound from partners, stronger conversations, builders reaching out, and whether people already have context when we engage with them. What we’re doing right now is very much the first half of a classic AIDA (Attention-Interest-Desire-Action) flow. We’re building attention and interest. That’s what the podcasts, content, and overall presence are for. Not because that alone creates value, but because without it, the next steps become much harder. When the chain and the products & applications on it are live, the goal is that desire and action are not starting from zero. People already understand what Vision is, what it stands for, and why it matters. The transition from here is straightforward in theory: - turn awareness into integrations - turn integrations into usage - turn usage into recurring activity and fees That’s where it becomes real. So yes, the current phase is still narrative-heavy, we’re laying the groundwork so that when real products are live, we’re not trying to explain everything from scratch. At the end of the day, though, none of this replaces execution. If the products don’t deliver, attention doesn’t convert. The Heart of Vision You’re right, building in this space isn’t just technical. It’s emotional as well. On team size, across the core Web3 setup, we’re roughly around 50 people at this point. On top of that, we have a lot of supporting functions at Bitpanda like legal, compliance, regulatory, finance, tax and others that we can rely on when needed. They’re not exclusively working on Web3, but they’re an integral part of our mission to make DeFi actually work for regulated players. What matters more than the number is how the team operates. At this pace, it’s easy to lose focus or burn people out. So we put a lot of emphasis on clarity. What matters right now, what doesn’t, and why. Not everything can be priority one at the same time. We also try to stay honest internally. Things don’t always go as planned, and pretending otherwise doesn’t help. A strong team comes from people feeling they’re building something real, not just chasing a narrative. On visibility, fair point. We’ve started introducing more people, and we’ll continue doing that. At the same time, not everyone is comfortable putting themselves out there publicly, especially in crypto. It takes a certain level of… let’s call it commitment to be the face of a project here ;) Some people prefer to focus on building rather than tweeting, and that’s completely fine. We’ll keep finding the right balance between showing the team and respecting that. The Global Ecosystem I’d look at it the same way you do. It’s not really about competition in the traditional sense. It’s a sign that the space is maturing. When major players move in this direction, it validates the idea that onchain finance, especially around RWAs, is becoming real infrastructure. From the conversations we’re having, the tone is actually quite constructive. It’s less “who wins” and more “how do we make this work in a way that is scalable and compliant.” Our partners are thinking long-term. They care about things like regulatory clarity, distribution, and whether there is actual user demand, not just short-term narratives. That’s also how we approach it. Vision is not trying to be the loudest or fastest entrant. The goal is to enter with something that actually works in a European context, connects to real users, and can scale over time. If we get that right, we’re not competing against the global DeFi ecosystem. We’re part of building it.

Learn more about Vision Protocol (coming this August) here: bitpanda.com/en-at/web3/visi…