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1 / on vitalik, DeFi, and ouroboroses (ouroborosi?)
i saw like 300 of these analyses but ur all wrong and im right okay so listen up
2 / defi is undoubtedly recursive. most tokens are defi (or adjacent), gaining value from--the value of other tokens held, traded, or leveraged on their platforms. Even most L1/L2/Semi-majors (technically not DeFi) pursue DeFi as their largest use case (effectively DeFi tokens)
3 / in the pre 2022 days, there was hope, as many alts were non-defi use cases (gaming, IOT, whatever). but most died, and we're now at a point where it's dominated by memes (SOL's main value prop). the problem still stands - can we find value outside of this reflexive loop? 1 reply
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