Vitalik: I hope to see applications that are sustainable and do not compromise on principles like decentralization

2024-08-25 14:50:12
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ChainCatcher message, Vitalik Buterin responded to a netizen on social media, stating: "The type of applications I want to see are those that operate in a sustainable way; applications that do not sacrifice principles (such as permissionless, decentralized, etc.).

I think DEXs are great, and I use them every week. I believe decentralized stablecoins (like RAI) are fantastic. I also think Polymarket is good.

I think USDC is not as good as RAI, but as a practical matter, we have to respect that it is very convenient and many people are using it. It is very useful for me personally when making international donations, much more convenient than banks. We are trying to make the global economy and society more open and free, and the ability for people in emerging markets to trade freely with stablecoins is a real use case that is happening everywhere.

USDC on Ethereum is also much better than account-to-account transfers within centralized exchanges, which happens often. If we get a lot of people using USDC, it will create a situation where it is easier for people to transition to other more decentralized stablecoins.

What I 'do not' respect are basically those things whose appeal comes from some temporary sources, with no sustainability. I am not excited about the liquidity mining craze of 2021 because it was clear that it came from fundamentally temporary token issuance.

If someone tells me: 'Put your money here for a good return', my question is always: 'Where does the return come from?' Who is on the other side of the trade, who is paying the return? If there is a concrete answer to this question and a good reason to believe that this answer will still be correct in 5 years, then I would be very excited about it."

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