Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bankless Joint Creation: ETH will either reach a scale of tens of trillions of dollars, or everything is meaningless

Bankless Joint Creation: ETH will either reach a scale of tens of trillions of dollars, or everything is meaningless

Bitget2024/12/18 03:35

Bankless co-founder Ryan Sean Adams stated on social media that if a DeFi system of an L1 public chain can be shut down by a single letter from the Treasury (because all liquidity pools, collateral, and trading pairs are backed by stablecoins supported by the U.S. government), then this is just fintech with extra steps.

Adams emphasized that if you want a real sovereign internet currency system (which is exactly what the crypto industry once cared about), you need a large-scale economic asset capable of competing with G7 countries as base currency. He said: "ETH either reaches tens of trillions of dollars in scale or the whole endeavor will be meaningless."

In response to this, Solana co-founder Anatoly Yakovenko said that traders have always been dealing with custody risks and banks may also go bankrupt. If there's enough bandwidth to manage all markets, technically it's a feature.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!