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Author: Jesus Rodriguez, Intotheblock CEO
Source: Medium Translation: Shan Ouba, Bitchain Vision
In the recent article of Coindesk (>What is the key pillar of Defi in the next stage?How to adapt to market conditions?), I discussed the paper on the DEFI growth requirements of the new stage of the market.Despite a major collapse and incident, in the face of extremely harsh market conditions, the Defi field still shows extraordinary elasticity.As the new momentum promotes the adoption of DEFI, it is important to consider the key factor of promoting DEFI at this new market stage.We call it DEFI V2.
In the article, I discussed the three main dimensions of the Defi V2 growth:
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Developers: Build new agreements and infrastructure in this field.
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Retail investors: interact with the DEFI protocol through wallets and exchanges.
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Institutional investor: Use DEFI in a large investment or trading strategy.
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Status: Defi developer ecosystem is very powerful.New ecosystems such as Celestia, Manta, Eigenlayer are bringing new energy to the ecosystem.In addition, the agreement has become smaller and more detailed, expanding the founder’s footprint in this field.
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The biggest obstacle: one of the main problems of Defi is the problem of cold startup.Most agreements lack capital of deployment incentives or the distribution channels for attracting institutions.More channels are needed to solve this problem.
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Status: After FTX, the DEFI retail ecosystem was severely damaged.With attractive yields and new market motivations, some attractiveness is returning.
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The biggest obstacle: distribution and user experience is by far the biggest challenge adopted by retail.Visiting DEFI through wallets and exchanges is essential to accelerate retail in this field.In addition, the complexity of abstract DEFI through a smoother user experience is also very important.
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Status: DEFI’s institutions are still limited to cryptocurrency companies.However, the use of the crowd is definitely coming back.
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The biggest obstacle: urgently requires many services such as risk management, credit, margin loans, and even insurance to promote the use of DEFI.Without these, the institutional DEFI may continue to become a channel between cryptocurrencies.Supervision is still the main obstacle to the institution’s use of DEFI.
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The healthy development of DEFI V2 depends on the sustainable development and coordinated development of these three dimensions.However, these three groups are in a very different stage:
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Let us understand the current status and obstacles of each population more deeply.
