I Believe...
I believe that a better DeFi space is possible. Sadly, many don't share my vision of a better, safer DeFi space. That's alright...it only takes a spark to start a forest fire. So before we dive down the rabbit hole of the defi utopia...let's first step back and gather our thoughts around where the State of DeFi is currently...
DeFi...since I got involved back in January has always been referred to as the "Wild Wild West" and in many ways it has certainly been that... It's been a dog eat dog, early investor vs. late investor all out battle royale to see who can walk away from the match with the most money and by god...screw any investor that got in late and served as my "Exit Liquidity".
This didn't just disillusion many newer investors that didn't know how to play the game, that fomo'd in when the hype was at max...but it has also laid waste to projects that simply needed more time and money to reach their utility goals. Let's call a spade a spade...it was an investing ecosystem where the strong preyed on the weak. Where those educated in Crypto ate the new kids lunch and stole his lunch money. The bottom line...
This has to change if we want new investors to join and feel safe in their investments and if we want institutional money to take us seriously long term!
Now that we have established where we've been...let's now look at this Utopia I am envisioning here in DeFi...
Let's first define Utopia:
Utopia
Imagine with me if you will...
A DeFi ecosystem that can provide any type of protocol a community could want...see a new exciting protocol you want to invest in? BOOM the ecosystem will build it for you.
A Dev team behind that ecosystem that has the ability to make any protocol a reality through skill and connections AND that actually have the community's best interest at heart and therefore wont rug or put out a protocol they don't agree on and can't execute 100%. A team that is transparent, fully doxxed and 100% trusted by the community at large.
And finally...the entire DeFi community where everyone has each OTHER's best interest at heart...where they don't tank the protocols, where they take profits responsibly and sustainably, where they have a voice and their ideas are heard...where they have voting power and a level of control over their investments. A community that communicates before they spread FUD and anger and malice. Imagine that the community has representatives that serve on an advisory board to the dev team where their experience and feedback are baked into the fabric of that very ecosystem.
A grand ecosystem where everyone can benefit long term...and if one protocol fails everyone comes together to fix it or build something different, but not scream rug, because everyone was involved in the idea?
Sounds too good to be true!
I know and it might just be...BUT!
I do know of an ecosystem that is doing everything they can to make this a reality. @BloomDeFi is that ecosystem...The Dark Forest Dev Team is that team...and the community that is coming along side the ecosystem as a partner, names such as James Pelton, Exy_Crypto, 0xZenpai, Defi_Kun, Cryptonaut, Professor_Degen, BigMooseCrypto and so many more are striving to do as much of this as possible.
Bloom is truly trying to create not just an ecosystem but an ENTIRE ECONOMY within the DeFi space.
They are starting with the finest form of marketing known to man...referral marketing...where they pay the community to market...rather than big influencers with no vested interest in the project. Move that into BloomBoxes where you can enjoy truly passive income through the first of it's kind auto compound/claim mechanism built into a tradable yield bearing NFT. Then focusing on things such as a cross chain NFT marketplace, Cross-Chain DEX, Bank lending System, Sports betting book...all backed by a solid treasury investment strategy...
Will they pull it off?
I sure hope so...someone needs to do something different. There HAS to be more to DeFi than racing to get in early and racing to take everyone's money who got there late...the community has to be better stewards of their money respecting all who join them in investing in a particular protocol. Devs have to be better about understanding tokenomics and the math behind it...not just pulling numbers out of thin air...and they have to build to utility faster if they are using ponzinomics to build runway...
If we can change our mindset as a community...we can better support devs who are trying to support us and we might...JUST MIGHT...get closer to a DeFi Utopia.
Jeremy | ExpeditionDeFi
