CoinDesk Live Recap: Ethereum's DeFi Luminaries Discuss What's Next

MakerDAO's Rune Christensen, Compound's Robert Leshner and Uniswap's Hayden Adams discussed the state of the $3.8 billion DeFi market.

Jul 30, 2020 at 5:25 a.m. UTC
Updated Sep 14, 2021 at 9:38 a.m. UTC

For decentralized finance (DeFi) to make its mark, it must reach beyond the crypto bubble, said MakerDAO founder Rune Christensen.

“Compared to where we’re going next, we’ve still just scratched the surface of what this technology will do,” Christensen, whose lending platform recently topped $1 billion in committed assets, said.

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 CoinDesk’s Ethereum at Five series, was moderated by reporter Will Foxley.

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 Ethereum’s best use case.

“We’re 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 it’s going to be tokenized.”

Leshner, the founder of the Compound lending protocol, said DeFi has the potential to transform the opaque, expensive and slow systems of traditional finance.

“The best things that work in traditional finance are the things that you know are there, they work and they’re 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?”

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown
3
CoinDesk - Unknown
Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

CoinDesk - Unknown
4
CoinDesk - Unknown
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform

Aversion to risk remains as volatility returns to stocks and cryptos.

Aversion to risk remains as volatility returns to stocks and cryptos.

CoinDesk - Unknown