Decentralized finance (DeFi) veteran and Fantom (FTM) founder Andre Cronje is identifying the core areas of focus for the foundation behind one of Ethereum’s (ETH) biggest rivals.
In a new Medium post, the prolific developer says that he’s not looking for a new narrative or trend in DeFi, as he says that DeFi itself is already solid enough as its own trend.
He also names four things the Fantom Foundation is focusing on.
“So I don’t see the requirement for a next trend in DeFi. I see DeFi as the trend. What we at Fantom Foundation are focusing on are:
- Regulatory frameworks
- Auditing tools
- Layer-1 throughput and scalability
- Layer-1 account user experience and social recovery
Defi, and other blockchain verticals (social media, gaming, art, news, etc), are here to stay, but they are limited by the current state and access of the underlying technology (just like early web was limited by the underlying technology and access). There is no ‘new narrative’. There is no ‘new trend,’ simply more of the same. And that’s a good thing.”
Cronje also says he disagrees with the notion that the days of high-yield opportunities are gone from DeFi. According to the crypto veteran, the growth of the DeFi space remains in a strong long-term uptrend, and doesn’t need any new narratives to continue its upward trajectory.
“If you plot a growth chart on TVL [total value locked], yield, and trade volume, and you flatten the curve to avoid oscillating, it is a clear linear growth chart. On every feasible metric, real yield and DeFi have grown substantially. The dot com bubble did not destroy the internet and require a next narrative. It was those projects that were given birth during that insanity that became the anchor products we use today.
To answer ‘what could be the next thing for DeFi’, DeFi is the next thing for DeFi. It doesn’t need a ‘new narrative,’ it doesn’t need a ‘new shiny toy,’ it just works.”
Main content of the article:
Andre Cronje, founder of Fantom (FTM) and veteran of decentralized finance (DeFi), has identified the four core areas of focus for the Fantom Foundation: regulatory frameworks, auditing tools, layer-1 throughput and scalability, and layer-1 account user experience and social recovery. He believes that DeFi is the trend and no new narrative is needed to continue its upward trajectory. He also disagrees with the notion that DeFi high-yield opportunities are gone, saying that on every feasible metric, real yield and DeFi have grown substantially. He believes that DeFi does not need a new narrative or shiny toy, it just works.