In a Consensus2023 interview, hosseeb discusses how rising interest rates changed DeFi, why Ponzi schemes always fail and ways to reform crypto's market structure after FTX. By: DanielGKuhn
The biggest change has been the demand for [decentralized finance]-sourced yield. This was a big theme of what made DeFi attractive in a ZIRP environment. Now the appetite for risk has totally changed, so in order to gain traction with consumers, you have to do more than just create synthetic high-yield products.that one of crypto's particular selling points is permissionless innovation. Are there emerging trends that have developed this past year that you didn’t see coming.
Following FTX there have been numerous calls to rethink crypto's market structure. Are there ways to redesign centralized exchanges that you'd support? To be clear, equity stakes are not necessarily locked up. There's nothing that generally stops a company from selling its equity via a secondary transaction . The thing that usually stops them is the reputational damage of doing so. The same is true of tokens. But yes, in general we push for long lockups when we make investments, both for investors and for the team.
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