Why the Founders of Aave and Sky Are Still Bullish on Ethereum DeFi - Ep. 781
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If I would talk to a new developer where they should start, if they wanna get serious about DeFi, then it's, on Ethereum. And and I would love to build on all of this. So if there's users and there's ecosystems, I will be happy to contribute. So I'm not really, like, kind of, like, tying myself into a blockchain. That's just stupid. Like, no one should think like that. Right? My goal is to build something that is secure and resilient.
Hi, everyone. Welcome to Untamed, your no hype resource for all things crypto. I'm your host, Laura Shin. We are now featuring quotes from listeners on the show. Today, we have one from Josh M Dona on X responding to my recent interview with former Silvergate Bank chairman, Mike Lempress. Josh M Dona writes, such a messed up story. I don't know how Mike and others in similar positions, Caitlin Long comes to mind, keep persevering through all the evil levels of injustice thrown at them over the years. They're true heroes to me. Thank you for shining a light on this story. To have your comment f
to be here. Both
of
you are OGs in the DeFi space, and both of your protocols are in the midst of some big changes, while DeFi and Ethereum themselves seems to be seem to be at an inflection point. So, Rune, you launched Maker, now called Sky, eleven years ago, which is, like, just an eternity in crypto. And, Stony, you're now celebrating the fifth anniversary of Aave. Why don't you each fill us in on where your respective projects are in terms of recent accomplishments? Rune, do you wanna start?
Sure. Yes. I like you like you said yourself. Sky, formerly known as Maker, is just an extremely old project, and it's really been through a lot in the space. And, I mean, it all started off with this idea that we could go beyond just Bitcoin and speculation and actually Blockchain and crypto could be used for something real. And then from our perspective, what was really important was stability because having a stablecoin is, like, the foundation of all other all the other cool use cases in crypto, including something like Aave, which, you know, that whole like, I mean, basically, all the rea
I think it's so fascinating to look at the trajectory because I remember the first time anybody ever mentioned Maker to me back in the day. Like, maybe this was, I don't know, 2015 or 2016, and they made it sound so complicated. They kind of, like, didn't fully describe it because they were just like, oh, you know. And I think, like, what they were talking about was the original, collateralized debt, whatever it I forget even the name of it, but CDP, which, obviously, when I learned about it, I was able to understand it. But it was just, like, at that time, it was so foreign. And so it is just
I mean, a lot has happened, over the time, and and I think that's the way that Aave, works today is is, is quite expansive. So I think when we when we started building Aave five years ago and even, two years earlier, in 02/2017, we basically were approaching the space more from, like, experimentation perspective of what what we can do what kind of financial, behavior we could create as primitives on chain, and then how we could actually, make use of those and how we can get get, better, faster, stronger, finance. And I think what you mentioned, Laura, about the complexity that goes to these ea
Yeah. You know, the point you made about how it feels like both of your protocols started off as being for crypto native people, but you're kind of shifting to understanding, like, not everybody will understand how everything is, how everything works under the ho
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