Solana (SOL) co-founder Anatoly Yakovenko believes it is one of the most impactful innovations to come out of the crypto industry.DeFi (decentralized finance)”. Yakovenko, who was the guest of Raoul Pal, made remarkable statements.
Yakovenko stated that the DeFi sector is one of the most important applications for cryptocurrency because it brings significant ‘innovation’. The co-founder believes that such innovations make adoption difficult but will be successful at the end of the day.
If the software can do it 10 times cheaper, they don’t want to give it up. But I think it’s inevitable. As you know, there’s no way in 20 years, 50 years that all of these things won’t work in software with decentralized applications (DApps).
DeFi Has Huge Room to Grow
Yakovenko noted the following about the possible impact of DeFi on traditional finance giants such as Goldman Sachs and BlackRock:
If this is real disruption, that means they have to reduce their profits. This is what destruction brings.
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According to Yakovenko, some of Solana’s DeFi-focused projects are now thriving after their initial struggles.
When designing Solana, we thought it was perfect for DeFi, based on the idea that cheaper and faster is always better for finance. Especially FTX [borsasının] After its collapse, this idea was difficult to adopt.
But there were really strong teams like Margin, like Solend, like Jito Labs, like Pyth, like Jupiter Aggregator… all these teams continued to build through the bear market, through all the black swan events, and now I think they’re in the next stage of maturity and really getting into growth mode. They enter.