Placeholder Image

Subtitles section Play video

  • what is the future of defi?

  • Because I thought you were gonna cut me off when I introduced you in the beginning by saying, I was impressed with all the innovation and you know, you know, I saw the yield swapping and I saw the coin swapping and I saw the liquidity pools, I was like, wow, you know, we would have ever thought of this on Wall Street, were actually I get shares in the company, I transact with that provides liquidity.

  • But you think we have so many orders of magnitude further to go and defy, you don't even think we're innovating, We're just plugging what new tech into old ideas.

  • No, no, no, there is, there is innovation in defi and then there's a lot of very exciting uh new services coming up, the five services coming up.

  • And uh so but what we have done so far is just barely scratching the surface.

  • So um people have now seen dex is and they have a notion of how dex is could work.

  • And uh so what they really mostly seen our automated market makers.

  • So dex is like uni swap like Pangolin, like trader joe.

  • And those are fantastic.

  • And that's a very good start.

  • But there's an entire universe of even faster dex is for things you want to trade in real time.

  • So um and with far less slippage.

  • So uh we're going to see a lot more innovation on the decks front, we're going to see what we call central limit order books, you know, things like that looked like the N.

  • Y.

  • S.

  • C.

  • Things that look like the NASDAQ actually entered the Blockchain space that's going to be fantastic.

  • We're going to see far less slippage when it comes to uh trades that people do on texas.

  • So currently, if you interact with AMS uh, there's a lot of slippage that you can experience depending on the liquidity on the mm we're going to, there's going to be a huge battle and I think avalanches poised to, well poised to to win this, it's gonna be a huge battle to make sure that people don't jump ahead of users.

  • So this is sometimes known as Miner extractable value in the theory and the miners are in prime position to look at what you want to do and then squeeze you in between their transactions and extract value from you suppose you want to buy something and they know how much it sells for.

  • Well, they could buy it ahead of you and sell to you at a higher price and people do this all the time.

  • And there are lots of different variants of this, this attack and it just works counter to uh to, to retail and it's no different than what happens on Wall Street.

  • Those HFT guys are jumping ahead of you and this is a different form of it.

  • And I am not here to take down Wall Street and replace it with something that's that's equivalent or worse, I guess we don't want to just change the actors want to change the game.

  • So, and we have the potential to build systems that are bulletproof against these kinds of activities.

  • But when I say bulletproof, well get this much, much, much better against these kinds of activities.

  • Making it entirely go away might actually be a hard scientific problem.

  • But certainly reducing its uh its amount and protecting retail is the goal.

  • So I can go on like this.

  • There are many other defi projects that are coming on board.

  • So yield farming is an exciting area.

  • There's a lot to do.

  • Uh, portfolio management is a very exciting area.

  • Um, and it takes three years its head and all sorts of things.

  • So when you, when you're just taking into pools into yield, what you're really doing is you're managing a portfolio behind the scenes or defy protocol is managing a portfolio.

  • So there's a lot of innovation to be down there.

  • There's a lot of science that's sitting by the sidelines that has not been applied into the Blockchain world.

  • So, uh, so that's going to open up an entirely new Universal at the heart of it.

  • All.

  • What this innovation will do is it will make accessible a set of financial tools that have only been accessible to the very, very rich.

  • Could you not have your, you know, have the latest of science behind your portfolio management today?

  • Yes, if you go to Goldman and you're a high network individuals that could happen for you.

  • We'll defy is going to bring it to the masses.

  • You could tap into it with $200 and that opens up an incredible new world and I think it's just fantastic.

  • Um And while land on this last note, so you might remember when you entered the finance um to actually have a seat at the table, you needed to have a terminal, right?

  • And if you needed to have, if you wanted to be a market participant then you have to pay 100 and $50,000 a year to to have a connection to N.

  • Y.

  • U.

  • C.

  • And now anyone can trade.

  • There is no it would be ludicrous to try to charge people for it.

  • You can connect to the avalanche network or the ethereum network without for no money at all.

  • And that's a fantastic development and it's wonderful to see energetic people, young people from all over the world.

  • Just go head to head against the Wall Street titans on the same unifying platform on equal terms.

  • And that's what gets me really excited.

  • Uh huh.

what is the future of defi?

Subtitles and vocabulary

Operation of videos Adjust the video here to display the subtitles

B1 innovation portfolio liquidity wall street yield defy

THE FUTURE OF DEFI ? Emin Gün Sirer on Innovation in Decentralized Finance ?

  • 7 0
    林宜悉 posted on 2021/11/18
Video vocabulary