Ethereum co-founder Vitalik Buterin ruffled feathers on social media by critiquing one of the blockchain’s biggest use cases — DeFi. At the heart of the issue is yield — a broad DeFi term used to describe the returns users can earn on various crypto tokens. “It feels like an ouroboros,” Buterin said in a discussion on X, referring to the snake that eats it’s own tail. “The value of crypto tokens is that you can use them to earn yield which is paid for by... people trading crypto tokens.” Check out Tim Craig's full story on DL News by following the link. https://lnkd.in/eHsigZhz
Vitalik Buterin doesn't like DeFi? 😱 Isn't that like Elon Musk saying he hates electric cars? Not quite. There's a bit more nuance to it, which I explore in my latest DeFi newsletter for DL News. Check it out: https://lnkd.in/efUpfDrt