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Crypto Thesis for 2023 | Ryan Selkis
Bankless
Is DeFi Dominant Against Ethereum in 2023?
Aave and Uniswap launched their protocols on various emerging networks this year. This shows that the shelling point for most users isn't around chain specific native versions of lending and decentralized exchanges, but of the top applications by user. Just as Binance will likely steamroll the first top domestic tie exchange in Thailand upon entrance into the country, Aave is also likely to dominate in whatever digital country aka a layer one it enters. The reason I am much more relatively bullish maybe on DeFi than Ethereum though has to do with my mental model for both, right? So DeFi is about 0.1 to 0.2% of the market cap and TVL of traditional financial services.
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