David Stancel

DeFi

And Beyond

• Completely Transparent

  • Blockchain

  • Open-Source 

• Eliminates Middlemen

• Trust-minimizing

• Open and permissionless

• Composable

• Allows unprecedented automatization

  • algorithmic finance

  • programmable money

• Allows things that have not been possible before

  • Stablecoin with no counterparty risk

  • Flash loans

Advandatges

• Smart Contract Risk
  • Buggy code --> loss of $ 
• Design flaws
  • Within a dapp
  • When interacting with other dapps
  • Unintended Consequences
• Legal risks
  • Who is held accountable?
  • Accessing Dapps via Interface vs. Raw contract
  • Fitting into existing legal framework vs. rethinking the legacy frameworks

Risks

• artificial shortage
  • buyback and burn (Binance)
• profit-sharing (securities!)
• running the platform infrastructure
  • receiving fees (Renprotocol)
• network effect (Ethereum)
• decentralized governance (Decred, MakerDAO)
• ownership rights (NFTs, STOs)
• PoS with slashing (Cosmos)
• forced token utility
  • In-app currency (Celsius -- hard to do)

Things that Accrue Value

To Bitcoin

To Bitcoin

To Bitcoin

Growth of DeFi in the Last Years

And beyond

And beyond

Coinstory.tech

Thank you!