For decentralized finance (DeFi) to make its mark, it must reach beyond the crypto bubble, said MakerDAO founder Rune Christensen.<\/p>\n
Compared to where were going next, weve still just scratched the surface of what this technology will do, Christensen, whose lending platform recently topped $1 billion in committed assets, said.<\/p>\n
He was joined by fellow DeFi luminaries Robert Leshner and Hayden Adams on Wednesday in a live-streamed conversation on the state of the $3.8 billion DeFi market. The session, part of CoinDesks Ethereum at Five series, was moderated by reporter Will Foxley.<\/p>\n
It will certainly be a hard row to hoe, but the craze for yield farming and other middleman-less innovations could yet subvert traditional lenders. To date, DeFi has arguably been Ethereums best use case.<\/p>\n
Were moving towards a world of mass tokenization, where everything that has value is going to be tokenized, said Adams, the founder of Uniswap, a platform for exchanging ERC-20 tokens. At the moment it looks like Ethereum is at least in the lead in terms of where its going to be tokenized.<\/p>\n
Leshner, the founder of the Compound lending protocol, said DeFi has the potential to transform the opaque, expensive and slow systems of traditional finance.<\/p>\n
The best things that work in traditional finance are the things that you know are there, they work and theyre not that exciting, Leshner said. Can you supply $100 million of assets and begin earning interest on them immediately? Or can you borrow$100 million of assets instantaneously and note that the entire system works?<\/p>\n
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CoinDesk Live Recap: Ethereum's DeFi Luminaries Discuss What's Next - CoinDesk - CoinDesk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" For decentralized finance (DeFi) to make its mark, it must reach beyond the crypto bubble, said MakerDAO founder Rune Christensen. Continue reading