Gattman on Warpcast

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Gattman pfp

What narratives do you think drive the next DeFi cycle? Seems like RWAs for low risk, yield bearing, and being able to collateralize those tokens is taking shape & finding PMF. Curious what you think drives adoption and hype?!?

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What will drive hype: 👉 Restaking, RWAs, & improvements in security, insurance options. EigenLayer has seen massive growth, and it kind of reminds me of early SNX vibes. Could become a massive ecosystem just like Synthetix is. RWAs will continue to be big.

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Embedded cover options + growth in bug bounties, auditing will help ease concerns about hacks. We need to reduce hacks to get another growth cycle in DeFi. Normies read all the headlines about losses and it’s the #1 thing people ask me about online & IRL. High APYs, sustainable growth, & safety + security are 🔑

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Thanks for the thoughtful response. I see you work at nexus. I am always wondering how insurance takes shape in DeFi. Given your are one of leading edge projects, would you be willing to elaborate on where you see that service heading?

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During the bear, we saw a drop off in Protocol Cover across the entire sector, but that’s starting to pick back up w/ higher yields. We’re seeing demand for other products, though, that Trad insurers are unwilling to underwrite due to the knowledge gap, like Directors & Officers (D&O) cover for web3 companies.

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More liability-related coverage, expansion into traditional insurance markets, like the Mutual’s partnership with @reprotocol and The Retail Mutual, new crypto-native products that cover a wide range of risks, etc. We’re getting to the point where Protocol Cover is only one part of a larger product portfolio…

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…that people want coverage for. There’s also a need to make the UX in the DeFi coverage space much better—mainly, we need embedded coverage that’s at the point of deposit. There are many people that don’t realize they can buy cover for on-chain risks. We need to meet them where they’re using DeFi apps.

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Ideally, we need to allow people to buy cover without realizing they are interacting with crypto directly for products that aren’t crypto specific. We really need AA for this and I’m excited to see @safe play a big role in getting more people onchain w/ AA.

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Again, thanks for taking the time. As a noob, I appreciate your expertise. That makes a lot of sense. It makes we think of how you can insure a plane ticket at the point of checkout. Insurance should be available at the point of purchase. Additionally, some primitives should just likely have insurance embedded.

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No problem! Hit me up in the future with any questions. I love talking about this stuff. You can check out /cryptoinsurance, too, for more convos on this topic. I’ll be posting more there, as well. Embedded coverage and natively covered vaults. We still need to roll out the first @nexusmutual covered vaults.

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