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- Ethereum’s dominant role in the DeFi sector appears to be diminishing
- In a decade, the DeFi sector appears to be boosted
- Kava has several plans to increase its global footprint
According to Brian Kerr, CEO of Kava, the industry is becoming more and more chained in nature due to current network congestion. It looks like DeFi will break the Ethereum chains in 2021. Indeed Brian specifically mentioned the ups and downs of the DeFi industry, but their company will also launch some interesting products beyond the current hyper.
Ethereum’s dominant role will diminish
In a recent interview with CryptoPotato, Brian mentioned that they previously observed the market preference of bringing stablecoins, opposing Bitcoin, Ethereum, and other digital assets in money markets such as Compound. However, such a radical shift in market mentality ended up pouring billions into several major protocols. Brian also said that according to his view, the DeFi sector will have a more cross-cutting nature in 2021. However, as the dominant leader, Ethereum’s role may eventually decline due to network congestion and high gas tariffs .
The situation of the DeFi sector in a decade
According to Brian, numerous suspicious DeFi applications will emerge, which can be multiple exit scams and pure Ponzi schemes, under the name of real financial products. However, it appears that over the next five years and several centralized platforms will begin integrating the DeFi protocols, which will create a better experience for users.
Brian said he doubts even an idealist can provide an accurate report of what and how the landscape will change in a decade, as ten years ago, Bitcoin was a baby and Ethereum never existed.
The world’s first cross-chain money market on the Kava platform
In the interview, Brian also summarized his first application built on the Kava DeFi hub platform. Specifically, the Kava platform offers the possibility for Harvest.io to become the first cross-chain money market that can be used by its users to lend, borrow and earn crypto assets. According to Brian, they want to combine financial services and products to provide additional returns to their users.
Kava plans to expand its cross-chain bridges
Brian explained that the expansion of cross-chain bridges to enable the use of new tokens in Kava’s DeFi hub is included in the annual plans. Kava will also create several applications to leverage digital assets as collateral. In the coming months, Harvest 2.0 will be launched, following the AMM and DeFi Robo-advisor applications. Externally, Kava is also planning to spread its relationship with several organizations to distribute their services globally. As DeFi becomes more mainstream, Kava’s protocol will continue to expand partnerships.
