And we’ve been bringing crypto into the real world with MetaMask Card.
Spend your crypto anywhere - no banks necessary.
Sign up now or join the waitlist: https://t.co/Q49mtsJYZH
12 hr from the worst hack in history. ALL withdraws have been processed. Our withdraw system is now fully back to normal pace, you can withdraw any amount and experience no delays. Thanks for your patience and we are sorry that this has happened.
Bybit will come out with full incident report as well as security measurement in the next few days. I will also personally keep you all posted on any new updates. Thanks to all the clients, friends and partners who have helped and supported us during this excruciation 12 hrs.
The real work has just now started.
Aave has over $30.5B TVL secured by @ethereum.
That liquidity is distributed across ten markets, hosted on mainnet and seven layer 2s.
Ethereum is for DeFi.
crypto has reached escape velocity 🧑🚀🌕
people...
▪️ value cryptoassets
▪️ hold cryptoassets
▪️ trade cryptoassets
▪️ borrow cryptoassets
▪️ use crypto applications
▪️ transact with stablecoins
▪️ earn by building in crypto
▪️ can use crypto networks for ~free
a thread 🧵⬇️
Welcome to the new members of America's most pro-crypto Congress ever... 219+ pro-crypto candidates and counting have now been elected to the House & Senate.
Tonight the crypto voter has spoken decisively - across party lines and in key races across the country. Americans disproportionately care about crypto and want clear rules of the road for digital assets. We look forward to working with the new Congress to deliver it.
Thank you to everyone who stood with crypto today. We did it! #StandWithCrypto
We’ve just released our latest State of Crypto report.
It shares insights on key trends — like stablecoins, L2s, and AI — plus, crypto’s rise as a hot policy issue, new data on builders and users, and much more.
Full report: https://t.co/OVasX3gvAu
Here are 7 top takeaways ⬇️
how DeFi will eat finance and ultimately the world
@aave->backbone for all credit extensions empowering finance in the most democratic/neutral way
@SkyEcosystem->global savings providing access to all on the planet
@Uniswap->exchange all forms of value including tokenized credit.
DeFi will be the backbone of ALL finance
A common misconception is that DeFi is only useful when there is “collateral,” and it’s not beneficial for people seeking “loans.”
This is not the case. Protocols like Aave can actually serve as the backbone for all credit extensions in the real world, anywhere globally.
The concept of collateral is present in all credit transactions. In DeFi, we are primarily accustomed to crypto collaterals or tokenized assets. In traditional finance (TradFi), collateral ranges from mortgage-backed credit to credit extensions based on credit scores, where consumers' future cash flows are used as collateral.
The key to using Aave for every loan issued globally is tokenization.
This means real-world credit would be tokenized and then used as collateral to unlock more liquidity, funding similar loans in the real world.
Of course, all loans should be credit-rated, and not all tokenized credit can be used in Aave’s Blue Chip main market (though some will be). However, there will be other markets on Aave where these types of credit will be a good fit.
Eventually, Aave could become the backbone for all credit extensions, empowering finance and credit extension in the most democratic and neutral way.
Similarly, Maker could be used for global savings, providing access to savings for every single person on the planet.
Uniswap could be used to exchange all forms of value, including tokenized credit.
This is how DeFi will “eat” finance and, ultimately, the world.
DeFi will be the backbone of ALL finance
A common misconception is that DeFi is only useful when there is “collateral,” and it’s not beneficial for people seeking “loans.”
This is not the case. Protocols like Aave can actually serve as the backbone for all credit extensions in the real world, anywhere globally.
The concept of collateral is present in all credit transactions. In DeFi, we are primarily accustomed to crypto collaterals or tokenized assets. In traditional finance (TradFi), collateral ranges from mortgage-backed credit to credit extensions based on credit scores, where consumers' future cash flows are used as collateral.
The key to using Aave for every loan issued globally is tokenization.
This means real-world credit would be tokenized and then used as collateral to unlock more liquidity, funding similar loans in the real world.
Of course, all loans should be credit-rated, and not all tokenized credit can be used in Aave’s Blue Chip main market (though some will be). However, there will be other markets on Aave where these types of credit will be a good fit.
Eventually, Aave could become the backbone for all credit extensions, empowering finance and credit extension in the most democratic and neutral way.
Similarly, Maker could be used for global savings, providing access to savings for every single person on the planet.
Uniswap could be used to exchange all forms of value, including tokenized credit.
This is how DeFi will “eat” finance and, ultimately, the world.