Vitalik Buterin
@vitalik.eth
TVL is not the goal; TVL is a necessary evil. Every dollar locked in a (especially immature) protocol instead of being locked in a simple and secure wallet is to some extent a security risk. Sometimes we have to take that risk to get valuable benefits, but locking for the sake of locking should be minimized.
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Jeff Lau
@jefflau.eth
Having every dollar in a secure wallet kind of feels like the Ethereum version of hiding your cash under the bed. Locking for the sake of locking is also sub optimal, but isn't the point of a network that dollars are used within the applications built on top of it?
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Mac Budkowski 🥝
@macbudkowski
+1. I think many projects promote their TVL to communicate: "Look how much money has been already trusted with our protocol - it must be legit, and you are safe to ape in." Ofc the last bull run showed us that following the herd might not be the best method to avoid risks.
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yuga.eth
@yuga
… so then what about staked ETH…?
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Nelson
@nelsonmckey
There will be a day - hopefully soon - where we stop using this overworked meme of a metric as a marker of success. The DeFi pulse days are long behind us. But protocols do need access to liquidity, so the concept isn’t going away. Hopefully the language and thinking can mature alongside better protocol design.
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0xlapi 🎩
@0xlapi
Well, there are a lot of degens out there that cannot tell the difference. But 100% agree.
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three9s
@three9s.eth
but muh points
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▫️Onyx 📚 🎩
@cipherscript.eth
perhaps we should think about setting up some sort of industry wide gold standard for smart contracts. with the momentum of LP's unlikely to slow down, certifying and auditing these contracts could really help us sleep better at night. like an ISO 27001 but for smart contracts.
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Idan Levin 🎩
@idanlevin
100% But the game theory playing out is that restaking protocols are fighting over $ because if it goes to protocol X it doesn't go into Y So they created a point system as the mechanic to distribute ownership later, and it is very lucrative to holders Blow-up risk is unfortunately an externality
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Joethebeast.eth 🎩🍱
@joethebeast1221
Staked ETH 🥹
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uh
@um
@0xngmi look
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ernestkou.eth @ GC
@ernestkou
what would you say is the goal then?
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@developer
@dos.eth
1000 $degen
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