Crypto and Defi Explained
Crypto and Defi Explained
This is going to be a rant about the unfortunate end state of Defi if we continue along our current trajectory. The fundamental issue is that we’re using money for Sybil resistance. Simply using governance tokens as a vote count makes money correlate super-linearly to influence. Vitalk recently wrote about this problem and it has been bubbling on my …
Everyone everywhere is trying to get active yield from their passive assets. It’s one of the most beautiful things about Defi. The first platforms to offer this were straight lending platforms like Compound. They established the pattern of overcollateralization, liquidation mechanisms, and variable rates based on pool utilization. However, who was borrowing, what were they …