DeFi risk managers are incentivized to take excessive risk. Risky collateral -> high APYs -> more TVL -> more fees If it blows up, *you* lose, not the risk manager. Notional holds its entire treasury in protocol. Beware of managers without skin in the game.
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People who say lending protocols are finished lack imagination. Yes, marginal design tweaks focused on borrowing stables against ETH or leveraged staking are no longer enough. But this industry is early and there will be new lending use cases that the current designs do not effectively cater to. New use cases - like lending directly to deploy into liquidity pools - are small now, but they will grow. Long innovation, long crypto, long lending protocol use case expansion.
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Something I struggle with is spending time on creating marketing content. Time spent on product feels more durable, like it builds on itself whereas creating content always feels fleeting and temporary
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