Bankless 18 - COMP Growth Hacking DeFi | Dan Elitzer
Jun 22, 2020
Dan Elitzer, a venture capitalist at IDEO CoLab Ventures and a DeFi futurist, shares his expertise on the explosive rise of governance tokens like COMP. He breaks down why this surge feels different from past market trends and the incredible yield farming opportunities available. Elitzer discusses the concept of superfluid collateral and its impact on yield generation. He also explores the balance of power between Ethereum, governance tokens, and the traditional finance framework, shedding light on the transformative potential of DeFi for the future.
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FutureSwap's Responsible Approach
- Dan Elitzer mentions FutureSwap, a DeFi protocol that saw immense early success.
- FutureSwap halted operations to prioritize security, demonstrating responsible development.
DeFi Tokens vs. ICOs
- Current DeFi tokens are different from 2017 ICOs because they represent governance.
- These tokens may later capture value, unlike earlier utility tokens.
Yield Farming Tips
- Balance yield farming excitement with inherent risks, especially in early stages.
- Explore Tether's high yield on Compound, but be aware of rate model discrepancies.