Conversation

1) It's been an interesting few months diving into DeFi! Particularly cool has been getting a sense of the community. Some observations:

SBF

@SBF_FTX

2) People are way more in favor of sharing. This is kinda the whole point, but it really is true. Everyone's looking to hook their project up into others, share their ideas, etc. This is pretty different from most places.

10:43 AM · Jul 29, 2020Twitter Web App

Replying to

3) People focus more on the tech and less on prices, which isn't shocking but is refreshing. A significant number of people have opinions on the relative merits of different protocols, and very few seem to be bragging about how much money they just made.

SBF

@SBF_FTX

Jul 29, 2020

4) People are about as tribalistic as the rest of crypto. It takes a different form--rather than blindly rallying behind a project, people will present arguments for it. But for many people, their arguments are fairly selective towards getting the answer they want.

SBF

@SBF_FTX

Jul 29, 2020

5) You find this with almost every project (DeFi or not). ETH gets the most heat for this, and it does deserve some, but maybe the only reason it has the most biased partisans is because it has the most people.

SBF

@SBF_FTX

Jul 29, 2020

6) A good example of the above: unwillingness to admit that there are real important advantages of other options even if you ultimately think they aren't worth it.

7) I like

! But if you argue that while SOL is way faster, ETH is better because it has a larger network and ecosystem and longer trackrecord of safety, that's reasonable. But I've seen a few too many posts skeptical that Solana is really faster. That's its thing!

SBF

@SBF_FTX

Jul 29, 2020

8) I also suspect that on the security side some arguments can get pretty inflated to make a point, though there is some substance to them. On the flip side, way too many claim to _know_ the ETH-killer. I don't! Solana _could_ take over, but any one coin has a low chance.

SBF

@SBF_FTX

Jul 29, 2020

9) And maybe there won't ever be an ETH-killer. Maybe ETH will slowly pull away from the pack, either because ETH 2.0 really kicks ass or because of side-chains. (Though I remain unconvinced that side-chains make more sense than an independent decentralized chain + OR.)

SBF

@SBF_FTX

Jul 29, 2020

10) OTOH, there have been a bunch of people who've been way nicer to me than they needed to. Many have partnered with Serum (projectserum.com), but a few (like

@cyounessi1

and

@thorchain_org

) were just more supportive than I could have expected.

SBF

@SBF_FTX

Jul 29, 2020

11) I'm super excited to see

@ProjectSerum

get off the ground, push forward, and build (cross-chain) bridges in DeFi! Coming to a node near you this August.