According to Stani, the CEO of Aave, the decentralized finance (DeFi) industry has rapidly evolved over the years. We have moved forward from having only USDT to now developing different types of stablecoins. The vibrant developer communities, especially on Ethereum, have created resilient protocols that stand the test of time and market volatility.
DeFi is seen as an access technology, providing equal financial opportunities globally and leveling the playing field. Stani thinks the transparency and governance aspects that DeFi protocols facilitate can allow users to share decision-making access. The scalability and technical infrastructure of layer 2s are seen as enabling factors for increased adoption of DeFi technology.
When asked about Aave’s stablecoin GHO, Stani believes that the future of DeFi is promising, with the potential for stablecoins to be integrated into the current payment infrastructure, providing better, faster, and stronger finance. In the EBC interview, he thinks stablecoins will be the payment infrastructure of the internet!
More EBC insights on the ecosystem of stablecoins and DeFi
- What Is DeFi’s Future?
- What Can We Expect in the Future of Financial Services?
- The Potential of Stablecoins and the Impact of MiCA Regulation
Stani also shares the Lens Protocol that they developed. It is a blockchain-based online profile system that allows users to secure their online presence, connect with other users, share content, and even tokenize it as NFTs. It aims to give users ownership over their social capital and empower them to hold relationships and create next-generation social experiences.
In conclusion, even though the DeFi industry has experienced lower leverage during bear markets, resulting in lower yields, it also spurred innovation in building financial opportunities. Stani firmly believes that DeFi is the right way of doing finance!