Thread by @radixdlt

#CeFi was a stepping stone while the world wasn’t ready for decentralization

Let's look at why 👇

🧵

#FTX #Radix $ETH $SOL

The world has had good reason not to be ready

#DeFi in its current form is fractured and hard to use

Do you agree?

Let’s take a cooking show as an example; competitors are given a time limit, and they run and frantically try to make a five-star meal with scavenged and limited ingredients. Rarely is the end product actually five stars

They compromise in both presentation and flavor to get it across the line

Needless to say, some dishes are quite likely delicious - but probably deserve a little more scoping out before being deemed ready for mass-market production

These last few years for #crypto are in many ways similar

Dozens of incredible projects have been built, with fundamental flaws in the underlying tech & lack of consideration for real-world adoption, holding the space back from mainstream adoption

While DeFi has struggled to scale and get itself to a place where adoption can happen with ease, CeFi projects such as #FTX have gladly taken advantage of retail investors, making an easy $26 billion by providing usable products and offering easy exposure to the crypto market

The issue is that “decentralized” for many is intimidating

As human beings, we’re set on feeling uncertain about things we can’t see

With the growing pains, DeFi projects have faced over the years leading to ambiguous, confusing end products, a crypto facade with a friendly face slapped on its image

Larry David shouting its holy grail will undoubtedly offer comfort to those seeking an easier solution

In terms of scaling into the mainstream, DeFi products suck!

Although those same products are not far from revolutionary, there’s still a lot of convincing to do before your parents or grandparents are convinced DeFi is the way forward - #Radix is paving the way to make exactly that happen

RDX Works has built the first full stack for Web3 that will enable developers to seamlessly create dApps that will put DeFi on the path to mass adoption, and obsolete traditional finance… for good

Builders will no longer build from flawed foundations, demo DeFi won’t need to be a thing, exploits and hacks will be a thing of the past, allowing decentralized finance to flourish

How does Radix do this?

With the #Radix engine and #Scrypto - devs who’ve spent years critically blocked with growing pains can quickly build dApps fit for global adoption

radixdlt.com/post/radix-eng…

Rome wasn’t built in a day, but it wasn’t built in a bull run either - nor should an entire economic shift to a new financial ecosystem

Simply put, it’s unfair to expect a world to be ready for a product that isn’t

And, if we really want to create a better financial future, we deserve to get it right

CeFi like #FTX isn’t what the world needed

While the fiasco unfolding will leave many wounded for some time, it’s a stark reminder as to what really needs to be done to fulfill the legacy started in 2008 - the true shift we really need to build the future of finance

DeFi is what’s needed to accelerate a better financial future, but it needs to be radically better. After 9 years of searching for the solution - #Radix has found it

On December 8, Radix will unveil the future of finance

Get your free ticket to #RadFi2022 and join thousands of others at the virtual event who are ready for radically better #DeFi

go.radixdlt.com/Welcome-to-Rad…

Check out our article on the recent demise of #FTX

radixdlt.com/post/the-fall-…