The executive director of Metamorphose, Erik Voorhees, stands out as a space fanatic Challenge. Decentralized finance (Challenge) have gained many followers in recent months, being Voorhees one of them. He is one of the first to adopt Bitcoin who has become one of the first public investors and innovators in the space.
ShapeShift CEO is a DeFi fan
As things progress Challenge has grown exponentially, all segments of the cryptography
They started looking for projects in space.
Anthony Pompliano, fund partner cryptographic
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“I read about DeFi all weekend. Very obvious, Bitcoin is the first and most popular DeFi product, but I am open to learning more about others. What other things do you recommend that I read? “
Erik Voorhees the Metamorphose responded by telling the investor to “ check Thorchain“. Thorchain, whose native token is RUNE, is a project that “facilitates inter-chain liquidity pools without tied or encapsulated tokens”.
This comes shortly after saying that DeFi is probably the most cypherpunk»What is happening in this space:
“When you look past the yams, unicorns and pretty gardening references, you’ll find that the challenge, decentralized exchanges and money markets in particular, are the most cypherpunk. cripto
at the moment. Try Uniswap. Exchange ETH for DAI. More advanced: Deposit in a liquidity pool. Even more advanced: buy interest-bearing cDAIs. Look at the number of banks and identity checks involved. It’s magic.”
Top investors flock to DeFi
The CEO of ShapeShift and Pompliano, who analyze in depth Challenge, highlight the trend of major space investors flocking to it.
This fund will focus on the following list of crypto sub-sectors;
- Next Generation Payments
- Modern store of value
- Challenge
- New methods of monetization for creators
- Web 3.0
Speaking about DeFi, the duo wrote that they believe this space aligns with core internet values:
DeFi is a new stack of financial services – think loans, derivatives, insurance, trading, crowdfunding, and more – based on blockchains embracing the core values of the open Internet, including 1) open access to anyone in the world; 2) commitment to open source code; 3) extensibility without permission from third party developers; 4) minimal or no fees; and 5) security and privacy supported by encryption.
This is a sentiment similar to that shared by the CEO of Metamorphose.