How do you measure success? or more aptly put - what is the benchmark of your success?
The answer could be different for different individuals. It depends on personal circumstances and may vary on how you define success. But, if you are the main subject that The Economist discusses and you have your picture posted on the Front page of the magazine, what do you call that?
Answer - It's success, it's curiosity, it's interest and it's recognition.
DeFi Eureka
The same eureka moment happened to our very own Decentralized Financing (DeFi) market this week. Nobody will deny the sounding popularity of defi in the wake of the pandemic last year. I was fortunate that I got into it pretty early in the game. It's been more than a year and it's time for the normies to know about it.
The Economist for the week of September 17 published a front cover post on DeFi. It does not matter whether the note was positive or negative. It does not matter if people perceive it as lawlessness or the wild wild est. What matters is the fact that it cannot be ignored and there are promises and opportunities. There are far too many people involved in this and so much capital is being staked (nothing compared to traditional finance, but still). The space is now monetarily significant for bankers and financial experts, it seems.
IT WORKS
If done right, this is the disruption that will change the way we bank. It automates the contracts and oh boy, it works like a charm (so far :P). Yes, there are risks and exploits but one thing that the defi system has shown to all of us is - it can be done and it can scale.
So many smart contract platforms are vying to grab eyeballs and deep crypto pockets. The platforms are chasing for the Total Value Locked (TVL) numbers and users. The number matters but what matters the most is the disruption it is bringing to the traditional financial system.
As a "woke" crypto user, I know how easy and comforting it is to avoid banks for legitimacy, transaction and financial advice. I am making more money in defi that I am making from my bank deposits. And, this holds true for everyone if they decide to join the movement. It is financial literacy leading to financial freedom.
The title of the article is "Down the Rabbit Hole" and it has perfectly summed up my experience. Once you are the rabbit hole, you won't enjoy anything else.