Thread by @pscltllrd

Some people are asking me what would happen to @Jarvis_Network if stablecoins become heavily regulated and/or if non-KYCed wallets become impossible to use for normies?

Worry not! DeFi has 2faces:

1. user-facing dapps, powered by protocols.
2. backend for finance.

⬇️⬇️

1/9

https://twitter.com/ki_young_ju/status/1469246754977890305

What I will say applies to other protocols, like @AaveAave or @Uniswap for example.

2/9

Let's say that it becomes impossible to interact with DeFi without KYC; teams providing UI, wallets, dapps browser etc. are targeted, CEXes forbid withdrawing crypto to non-KYCed addresses etc.

User-facing applications would take a hit. BUT...

3/9

DeFi is becoming the backend for centralized finance too!

Centralized wallets/app like Swissborg, Coinbase, Nexo provide users with swap and yield functionality; for now, they are sourcing liquidity among CeFi and they have started sourcing yield in DeFi.

4/9

A protocol like @Jarvis_Network makes swapping stablecoins (fiat) for any token way more efficient than ever, thanks to our fully on-chain Forex market #deforex

5/9

For example, a centralized wallet providing fiat-crypto pairs to their users could use Jarvis to enhance their liquidity.

https://twitter.com/pscltllrd/status/1468190602365911041

6/9

A bank could use Jarvis to improve their FX swaps, or their remittance services.

https://twitter.com/FuIIiron/status/1468179149839814656

7/9

Neobank can use Jarvis to level up their offering.

https://twitter.com/pscltllrd/status/1450519939077521409

8/9

This won't be the end of DeFi, it is the beginning of a new era in DeFi.

And let's not forget all the other regions in the world that won't censor innovation. LATAM, Africa, SEA.

9/9