Low-risk defi can be for Ethereum what search was for Google
Low-risk defi can be for Ethereum what search was for Google by mishaderidder.eth13093 🥝 • 1y • | |
AI summary of the linked articleVitalik Buterin argues that low-risk defi, covering payments, savings, synthetic assets, fully collateralized lending and exchange between these assets, can do for Ethereum what search and ads did for Google by sustaining the ecosystem economically while staying aligned with its values. He contrasts this with Google's ad-driven incentives, which encourage collecting user data, and says Ethereum's decentralization makes such alignment more important. The post credits a shift in regulation and falling protocol risk for making defi more viable, and it cites Aave deposit rates for major stablecoins and Ethereum L1 defi losses as supporting data. | |
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 Feeling quite abandoned by the Ethereum leadership when I read stuff like: Meanwhile, non-financial and semi-financial applications (eg. Lens, Farcaster, ENS, Polymarket, Seer, privacy protocols) existed, and they were fascinating, but they either got very little usage, or paid far too little in fees (or other forms of economic activity) to sustain a $500 billion economy. "existed," "were fascinating," etc. Is the implication that he has moved beyond them now and considers them past experiments?  It's sad frankly as I feel like there are so many people in that ecosystem who feel genuinely excited about the future of Ethereum social. I don't know why Ethereum leadership has to constantly bash everything that they don't seem to understand well. It's frankly the same that has happened to NFTs that is now happening to Ethereum social. One day Ethereum will just be this dead-seeming platform for finance that nobody will understand or care about. Vitalik's talk at EthCC in 2021 was titled "Things that matter outside of DeFi" https://www.youtube.com/live/oLsb7clrXMQ | |
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