Bankless Vance Spencer: The FAANG of DeFi (S.M.E.L.L)
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Aug 22, 2023 In this conversation, Vance Spencer, a renowned expert in crypto markets, shares insights on five key assets under the S.M.E.L.L acronym, likening them to the FAANG stocks of DeFi. He examines rising trends like SocialFi and platforms such as Friend.Tech. The discussion dives into Synthetix's revival, Maker's governance innovations, and Ethereum's pivotal role in shaping DeFi. Vance also explores the competitive landscape with Uniswap and contrasts Solana's unique attributes, offering a comprehensive look at the evolving crypto market.
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Influencer Anecdote
- Vance Spencer saw an influencer on Instagram talking about Friend.tech keys.
- This influencer hadn't been involved in crypto since the last bull run.
Speculation and Financialization
- Speculation and financialization are not inherently bad.
- They are tools that can be used for good or bad, similar to how creators currently monetize.
Friend.tech's Impact on Crypto
- Friend.tech's popularity might be a positive sign of renewed interest in crypto.
- Some worry it distracts from crypto's mission or enables short-term gains for a select few.