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Emin Gun Sirer expressed his happiness over the Avalanche Foundation announcing the biggest DeFi incentive program to date. This will catalyze the next phase of hyper-growth that I’ve been personally looking forward to since launching Avalanche mainnet last year.
All facets of the DeFi ecosystem need to co-exist and collaborate to create a functioning and widely adopted digital financial system: Automated Market Makers (AMMs), DEXs, borrowing and lending protocols, insurance protocols, and the list goes on.
It’s crucial to have all DeFi primitives working and communicating with each other flawlessly. DeFi users also need a seamless experience to participate in the ecosystem.
The Avalanche Bridge (AB) has dramatically simplified the experience for users who want to move assets from other DeFi ecosystems to Avalanche. A few weeks in and AB has transferred over $100M in crypto assets.
I’m extremely confident that users are going to love the experience of using the new dapps on Avalanche (as well as the very attractive yields, of course). The platform is in a prime position to offer the best user experience in DeFi– allowing fast speeds and low costs without making sacrifices in decentralization.
Lastly, I want to thank the first Avalanche Rush dapps, Aave Aave, and Curve Finance. Together, we will keep building new financial systems that are inclusive, innovative, and exciting.
Meanwhile, Kevin Sekniqi expressed: If the user adoption of smart contracts platforms reaches 1B+ daily active users, it should be pretty obvious that with current technology, there will be no single platform to sustain the performance. The need for multiple co-existing high-performance alternatives is high.
Indeed. Anyone that knows the ins and outs knows that with numbers like 1B+ DAU, we’re going to need many serious alternatives that interoperate well.
The community were like: Anyone being intellectually honest knows the future is multi-chain.
If only there were some network that could create natural bridges between all of these smart contract platforms so that they could focus on particular areas that their users care about. Like, a Layer 0 umbrella with unlimited Layer 1 networks underneath it. If only there were a new standard for cross-chain communication/bridges between all of these L1s as well.
This is why the Elrond network is built. “Onboarding the next billion people towards the blockchain” it’s highly interoperable (multi-chain future), infinitely scalable (including SC’s), provides the best user experience in the space, and is ready NOW.
