The money legos of DeFi are powerful -- introducing novel mechanisms for yield extraction, complex derivatives, and composable financial engineering. But how the legos interact is confusing, even to the degens. DeFi is complex.
User adoption of DeFi is on the rise, but subpar UX, prohibitive gas fees, complicated concepts, and other early limitations of DeFi make the experience a maze of tangled protocols for any newcomer.
Those newcomers are arriving in hordes. Whether they be a prospective ape degen, institution, or generally curious investor, they all want to afford a reasonably sized house.
Yields are a tool for attaining those reasonably sized houses, and DeFi is brimming with yield opportunities. But the complexity stifles the average newcomer. So, how do we reduce those barriers to entry? Simplify the experience -- make DeFi easy.
Courtesy of our CEO, @d0h0k1, Terra has created a request for proposal on Agora to introduce money markets on top of Terra. However, the primary objective is simplicity -- abstract away how the yield is generated, and empower the user to earn interest denominated in ANY asset.
This includes stablecoins, synthetic stocks (@mirror_protocol ), cryptocurrencies, fiat, and eventually more. It's easy finance, designed to bring the highly appealing yields of DeFi to the average user without the maze of composable money legos exposed.
With fiat on-ramps, this means that Alice could even generate interest in USD on her synthetic assets. Alice could also generate interest on an mAsset in the same mAsset. Did someone say mAPPL interest accrued on mAPPL deposits?
Check out the request for proposal below! If you're interested in helping to make the proposal a reality, feel free to reach out!
agora.terra.money/t/request-for-…
agora.terra.money/t/request-for-…
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