Conversation

9) There are a ton of things which would be awesome to see built on a long-term viable, massively scaling, decentralized blockchain. Governance, and core financial instruments, and social media, and much more.

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

@PancakeSwap

is there for the governance.

11) And what

built was the perfect platform for pure yield to migrate to. A chain that's cheap and easy to use and easy to migrate to, both for projects and traders. And seeded with millions of users.

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.

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13) And, really, if we want DeFi to get huge, we can't pretend that yield is the same thing as well-built decentralized primitives. We have to build great products which can outcompete the alternatives.

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14) BSC has been hugely successful for

@binance

. And BSC proved a point. It's a point the ecosystem needed to learn.

@cz_binance

adapted. He does that quite well. DeFi needs to adapt, too, to grow.

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15) Because for DeFi to win, it can't be decentralized OR fast OR cheap OR sophisticated OR innovative OR well built OR have a large userbase. It needs to be all of those.

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16) [something something Serum something something]

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Replying to

and

Trying to get started on understanding / use serum and Solana. Any advice on wallets/documentation to get started? I use a ledger and all the websites I visited tried to get me to create a web generated wallet which I’m not super comfortable with