Read on Twitter
1/ Retail crypto adoption historically comes in short bursts driven by memes & profits.
Previously it was Bitcoin & alt coins. Then it was Ethereum competitors & ICOs. Now it’s DeFi.
However, a big difference from 2017 is that DeFi has *real* functionality & utility... https://twitter.com/mrjasonchoi/status/1287047246291202050
Previously it was Bitcoin & alt coins. Then it was Ethereum competitors & ICOs. Now it’s DeFi.
However, a big difference from 2017 is that DeFi has *real* functionality & utility... https://twitter.com/mrjasonchoi/status/1287047246291202050
2/ As compared to ICOs that sold the promise of future platforms with future functionality & utility...
...Today you can invest in a DeFi platform that’s already on mainnet, has processed thousands of tx & secured millions in value, and has functional use (trading, yield, etc.)
...Today you can invest in a DeFi platform that’s already on mainnet, has processed thousands of tx & secured millions in value, and has functional use (trading, yield, etc.)
3/ This has big implications:
A/ the DeFi run-up could be more real & sustainable than any prior run-up in crypto that we’ve seen.
We could be no where near the peak of DeFi in terms of TVL, hype, or valuations. We could see $20-30B TVL next year.
Esp as DeFi goes cross-chain https://twitter.com/spencernoon/status/1287019815891345408
A/ the DeFi run-up could be more real & sustainable than any prior run-up in crypto that we’ve seen.
We could be no where near the peak of DeFi in terms of TVL, hype, or valuations. We could see $20-30B TVL next year.
Esp as DeFi goes cross-chain https://twitter.com/spencernoon/status/1287019815891345408
B/ Though less discussed, DeFi will enable new-to-world, DeFi-adjacent categories of decentralized services—and bring new forms of value to people & the world.
These DeFi adjacent services will leverage DeFi in creative ways to deliver higher order benefits, experiences & value.
These DeFi adjacent services will leverage DeFi in creative ways to deliver higher order benefits, experiences & value.
Some of my favorite examples of this today include projects like @withFND @rally_io @usebraintrust @ourZORA.
They will live in the areas of:
- e-commerce
- social media
- user-owned platforms
- digital creator economy
- gaming
Most will focus on ownership as the killer feature: https://twitter.com/jessewldn/status/1283036272936857605
They will live in the areas of:
- e-commerce
- social media
- user-owned platforms
- digital creator economy
- gaming
Most will focus on ownership as the killer feature: https://twitter.com/jessewldn/status/1283036272936857605
C/ DeFi is pioneering for the crypto community a new playbook for development & adoption:
- Land the core set of primitives with internal utility (eg, @MakerDAO)
- Build out 1 interconnected ecosystem (ie, DeFi) vs many
- Then build out new services leveraging the ecosystem
- Land the core set of primitives with internal utility (eg, @MakerDAO)
- Build out 1 interconnected ecosystem (ie, DeFi) vs many
- Then build out new services leveraging the ecosystem
D/ We are & will see faster pathways to decentralization & time to market.
Just think about @compoundfinance but more recently @BalancerLabs @AaveAave & @iearnfinance $YFI.
This will be for DeFi & eventually non-DeFi projects.
My colleague @GavinMcDermott wrote about this: https://twitter.com/gavinmcdermott/status/1255937798823047169
Just think about @compoundfinance but more recently @BalancerLabs @AaveAave & @iearnfinance $YFI.
This will be for DeFi & eventually non-DeFi projects.
My colleague @GavinMcDermott wrote about this: https://twitter.com/gavinmcdermott/status/1255937798823047169
E/ In summary:
- DeFi is simultaneously overhyped AND very real
- Though it’s hard to believe, we’re still early in DeFi’s cycle
- The best things are still to come
- The biggest things will seem crazy at first
- DeFi will enable new adjacent applications for crypto
- DeFi is simultaneously overhyped AND very real
- Though it’s hard to believe, we’re still early in DeFi’s cycle
- The best things are still to come
- The biggest things will seem crazy at first
- DeFi will enable new adjacent applications for crypto
