Sorry but I've been following the last decade of the crypto world. In a decade I have not seen a single "defi" product sticking around because there just doesn't seem to be real demand for these products.
Considering how many spaces in new startups developed massive traction in that span of time (social networks, other forms of digital payments and banking, online marketplaces) the fact that there are no star products in such a span of time gives me little consideration.
Wait what? DeFi pretty much started booming from last summer.. it hasn't existed for a decade. Do you not know Uniswap? It's existed since around 2017. Sushiswap? even Pancakeswap?
I call bs. There is not $80 billion USD locked in defi -- the world has not taken $80 billion USD, bought crypto with it, and put the crypto into defi code. Like, where are the receipts?
What has happened is defi tokens have appreciated through speculation. Sites like defi pulse erroneously represent the wealth locked into defi contracts as token_price * tokens_locked, which is trivial to manipulate for shallow-market tokens. Like, I can spin up a token with 1 billion units, buy one token for $1, and put the remaining tokens into a defi contract. Voila -- defi pulse reports $81 billion locked.
EDIT: downvotes aren't receipts, and downvoting doesn't change the accounting discrepancy.
Aave, Compound are both not Ponzi schemes and allow you to lock things like USDC and ETH (also not Ponzi schemes) for others to borrow, and earn interest. It's automated lending, I don't understand how people are not excited about this.
Lightning usability is horrible and requires 2 parties to be online at the same time, whereas with Ethereum scaling solutions, you can use your regular metamask wallet to deposit, and you're on L2.
