Ethereum

not very cypherpunk to want only a RWA based defi sector

crypto native businesses will exist as more and more usecases and industries come onchain or be created onchain

if you think defi is a closed loop because it uses only crypto native assets you simply do not consider crypto as money and the number of possibilities that are going to happen purely onchain in the future

this take is like saying internet content is never going to scale cause its only for internet users

crypto native collateral will always be the most pristine and important and as more purely onchain business models happen with equity like tokens we will have a more robust loop of yield

people simply are not bullish enough on this industry if all you want to do is bring treasuries onchain

+1 the “closed loop” take is very mid

Trade is trade 

Hard to see how you could spend much time on the internet and not believe that