2) In the end, it wasn't inevitable.
If Nomi hadn't fucked up, maybe SUSHI would be at $100.
If the team hadn't built, maybe it would be at $1.
But it had a shot, because much of what we thought was sacred was in fact chasing yield.
Conversation
5) It was dismissed, and derided.
And then released one of crypto's largest userbases on it, 100 times as large as all of DeFi put together.
And showed what always true, but not made explicit:
that for most users, chains were no more sacred than products.
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6) There have been wars over BSC, and whether it's good or bad.
I think that misses the point.
I'm not and I don't build on BSC. So I can't be sure what they were trying to do.
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10) And then there are yield farms.
No matter what we say about them, they never really needed to be decentralized, at least if the whole point is the yield.
You can drop yield anywhere. And no one who's using is there for the governance.
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12) It would be easy to be angry at BSC, for taking yield from more decentralized chains.
But I'm not. Because BSC isn't stealing governance, and it's not stealing the pillars of a decentralized future.
It's stealing yield.
It's making DeFi compete for its yield.
14) BSC has been hugely successful for . And BSC proved a point.
It's a point the ecosystem needed to learn.
adapted. He does that quite well.
DeFi needs to adapt, too, to grow.
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Very true, but this is purely fueled by yielding craze, that works as long as there is retail willing to buy any random farmed token that is dropped on the market. This will not last forever. Real DeFi is about building solid rails to support real on chain activity in the future
This calls for like minded people to keep building. New better products will keep defi going. More checks and balance to prevent rugpulls too.