Bankless Rari's March to $1 Billion | Jai Bhavnani (SotN)
Oct 13, 2021
Jai Bhavnani, co-founder of Rari Capital, dives into the revolutionary developments within decentralized finance. He discusses Rari's rapid growth toward $1 billion in total value locked and the introduction of permissionless Fuse pools that empower users to create their own lending markets. The conversation also explores the emergence of DeFi 2.0, featuring innovations in tokenomics and NFTs, and highlights the changing landscape of finance driven by youthful entrepreneurs. Bhavnani shares insights into balancing the challenges of startup life and the exciting future of DeFi.
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Rari's Origin Story
- Jai Bhavnani's crypto journey began with shitcoin flipping, highlighting the complexity of early crypto exchanges.
- This led him to develop a mobile wallet and later co-found Rari Capital.
Rari's Pivot to Fuse
- Rari Capital started as a yield aggregator but pivoted to an open interest rate protocol with Fuse.
- This shift allows users to lend and borrow any asset, creating a permissionless lending market.
Permissionless Lending
- Rari's Fuse protocol offers permissionless pool creation, similar to Uniswap's model for exchanges.
- This allows anyone to create a lending and borrowing market for any asset, covering a wider risk spectrum.