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DeFi Degens Are Crypto’s Suicide Squad
A look at the subculture and ethos driving the white-hot DeFi space, which has grown from $2 billion to $9 billion in total value locked in just two months.
Updated Sep 14, 2021, 9:52 a.m. Published Sep 3, 2020, 7:00 p.m.
A look at the subculture and ethos driving the white-hot DeFi space, which has grown from $2 billion to $9 billion in total value locked in just two months.
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today on the Brief:
- Traditional markets falter, led by tech stocks
- Bitcoin falls under $11,000 for the first time since July
- Stablecoins mint $100 million daily since mid-July
Our main discussion is about DeFi’s “degens.” NLW talks about:
- The numbers behind DeFi’s recent run-up
- What “degen” means in this context
- Why degen is, in part, a reaction to previous bitcoiner critiques of Ethereum
- Why degen is (in even bigger part) a reaction to a no-yield, artificially low interest world
See also: A Simple Explanation of DeFi and Yield Farming Using Actual Human Words
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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