Why would we recreate all the defi innovation on ethereum on polkadot vs. Ethereum projects bridging to it. I’d rather like to see more profound innovation on other layer 1 than copying Ethereum‘s ecosystem. Feels like incrementalism to me.
Thanks for the comment. First of all, I do think some projects are pushing the envelope on Polkadot. In the parachain paradigm, deeper levels of the stack can be optimized than would be possible on Ethereum. This allows for more sophisticated applications to be developed, especially for DEX use-cases at this point.
In general, having native DeFi services is important for most major blockchain ecosystems for several reasons:
DeFi services from DEX to lending etc. are basic building blocks also used for developing other areas beyond finance, which the ecosystem could end up innovating in. IMO, seamless (and economical) integration between Pokadot and Ethereum (and its layer 2s) won't be feasible for a while so copying over major mechanisms seems like the best way forward.
As we've seen with the Uniswap / Sushiswap situation, what starts as a simple fork can develop into quite different directions.
Why would we recreate all the defi innovation on ethereum on polkadot vs. Ethereum projects bridging to it. I’d rather like to see more profound innovation on other layer 1 than copying Ethereum‘s ecosystem. Feels like incrementalism to me.
Thanks for the comment. First of all, I do think some projects are pushing the envelope on Polkadot. In the parachain paradigm, deeper levels of the stack can be optimized than would be possible on Ethereum. This allows for more sophisticated applications to be developed, especially for DEX use-cases at this point.
In general, having native DeFi services is important for most major blockchain ecosystems for several reasons:
DeFi services from DEX to lending etc. are basic building blocks also used for developing other areas beyond finance, which the ecosystem could end up innovating in. IMO, seamless (and economical) integration between Pokadot and Ethereum (and its layer 2s) won't be feasible for a while so copying over major mechanisms seems like the best way forward.
As we've seen with the Uniswap / Sushiswap situation, what starts as a simple fork can develop into quite different directions.