During a panel at the Bloomberg Crypto Summit, several players in the decentralized finance (DeFi) industry voiced their views on industry-related issues. According to these experts, the overall situation is positive and the good health that the minutes showed in the context of the 2022 bear market was also highlighted.
In this sense, Matthew Roszak, president and co-founder of Bloq, a decentralized company of applications, DeFi services and Web3. In his speech about him, he said he saw “the good, the bad and the terrible” in DeFi this year.
According to Roszak, “evil was the MOON” and the collapse of the terrestrial network ecosystem that caused huge losses to many investors around the world. These losses were the “bad thing” of the semester. The whole thing “was a big failure,” he told her.
“The good thing is that DeFi has been pressure tested and worked to the best of its ability,” he commented. The fact that companies like 3 Arrows Capital have been liquidated shows that DeFi works, she said, and that there are no “lawyers or engineers” who can change the way these protocols work for everyone’s benefit.
“I’m very proud of how the DeFi protocols have held up under the pressure,” Roszak said, expanding his point. He also pointed out that many institutional investors are joining DeFi, allowing the ecosystem to grow.
Mary-Catherine Lader, COO of Uniswap Labs, developer of the largest decentralized exchange (DEX) on the Ethereum network, took the stage to share her views on the regulation of decentralized finance protocols.
According to him, there is more transparency in DeFi and more information is readily available. The downside is that regulators are not focusing on discussions of how this benefits a group of vulnerable investors.
“Better regulatory solutions can be found,” said Lader. However, she noted that regulators are “learning” about these issues and is optimistic that good results will be achieved in the future.
Ava Labs President John Wu, meanwhile, said the fact that there are attempts to regulate stablecoins suggests that DeFi has not been excluded from the regulatory spectrum. “Stablecoins are DeFi’s lubricant,” he said.
Finally, the rapporteurs expressed their views on the future of these protocols in the coming year. In general, everyone expected “big developments” and many things “that will make the ecosystem safer”.