How to Fix DeFi with Dan Elitzer
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 31 May 2023
⏱️ 60 minutes
🧾️ Download transcript
Summary
We get back to basics on the show with Dan who answers some fundamental questions about DeFi and what it means to actually be a decentralized protocol. What are the threats to DeFi and how can we build a great decentralized future.
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Topics Covered
0:00 Intro
3:34 Let's Talk About DeFi
8:09 Intro To Dan
10:51 What About DeFi is Broken?
15:05 Why is DeFi Vulnerable?
17:23 What is an Oracle?
20:12 What if Chainlink Goes Down?
27:08 What Does it Mean To Be DeFi?
33:17 What Apps Are Actually Decentralized?
41:15 How Dependancy Free Apps Emerge
45:36 Solving the Liquidity Issue
47:57 Bring Your Own Oracle
54:36 Is Orcale Free The Future?
59:35 Closing and Disclaimers
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Resources:
Dan Elitzer
Why DeFi is Broken and How to Fix It, Pt 1: Oracle-Free Protocols
https://www.nascent.xyz/idea/why-defi-is-broken-and-how-to-fix-it-pt-1-oracle-free-protocols
Some of Dan’s favorites:
Panoptic - https://twitter.com/Panoptic_xyz?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Timeless - https://twitter.com/Timeless_Fi?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Blend by Blur - https://twitter.com/blur_io?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
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Transcript
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| 0:00.0 | Thankless Nation, it's time for state of the nation, the topic today, is DeFi broken? |
| 0:09.3 | That's the question we raised. |
| 0:10.3 | It's from a post that was written that the caught our attention. |
| 0:14.2 | Why DeFi is broken and how to fix it? |
| 0:17.4 | Part one, Oracle Free Protocols. |
| 0:20.2 | Huh. |
| 0:21.2 | How is DeFi broken, David, and how do Oracle Free Protocols fix it? |
| 0:25.9 | Actually, that's going to be the topic I don't have to answer. |
| 0:28.3 | Don't give me the answer. |
| 0:29.5 | Why are we exploring this topic? |
| 0:30.9 | Give us some context. |
| 0:32.1 | Yeah, the guests on today's show, |
| 0:33.9 | a long time, Bayclists listeners will be tone completely familiar with. |
| 0:37.8 | Dan Elitzer, who has written a number of articles that have, I think, |
| 0:41.8 | all turned into Bayclists episodes because he has the uncanny hit rate. |
| 0:47.0 | He's got a great hit rate. |
| 0:49.0 | So when Dan writes an article, I pay attention. |
| 0:52.8 | He doesn't write too many. |
| 0:54.0 | He conserves his bullets for that when he shoots one, |
| 0:58.4 | it really means something and he shot a bullet. |
| 1:00.4 | And so we are going to go and explore why Dan thinks DeFi is broken |
| 1:04.7 | and what DeFi needs in order to really not lose $3.8 billion like it did last bull market. |
... |
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