Thread by @erd0xbc

The evolution & transformation of #Elrond to @MultiversX; some people have been critical or misunderstood the vision. Here is my take on why it's a more robust and expansive strategy than the original #Elrond #DeFi 2.0: The Era Of Autonomous Banking.

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@egld_initiative

https://twitter.com/beniaminmincu/status/1608840156727083008

1) @beniaminmincu states, "for blockchain to become the fundamental settlement layer for the global economy, it must meet specific necessary criteria: (i) It must be able to operate at internet scale, (ii) it must be globally accessible, (iii) and it must offer simple enough UX."

2) Now, with a solid foundation. How has the vision of DeFi 2.0 progressed? Initially, Swaps, NFTs, Lending, Bridges, Stablecoins, Synthetics, ESDT, and Launchpads have become much more.

3) Adaptability is a critical characteristic. @beniaminmincu's leadership & the talented engineering team of @MultiversX has proven their ability to adapt. The blockchain is immutable, but the vision needs to be adaptable. Easily a top 5 team in crypto.

multiversx.com/blog/elrond-de…

4) From Elrond DeFi 2.0 to #MultiversX!?? Change is not easy, but adapt or die. Conflating #MultiversX with #Meta or #Metaverse is a mistake.

5) We got Swaps @MaiarExchange , Superior NFTs, Bridges, Wrapped $USDC, ESDTs (Superior to ERC-20), and Maiar Launchpad. What about Lending, Stablecoins, and Synthetics?

6) Lending
A strategic pivot to building lending from the core team, @HatomProtocol has stepped up to independently deliver superior capabilities in partnership with @MultiversX & @rv_inc.

7) Stablecoins
Wrapped $USDC is only the start. Under the #xMoney banner, #MultiversX expands beyond just DeFi. @HatomProtocol & @ash_swap will bring stablecoins $USH & $AOC I expected to see more bridged stables & also native @USDC from @circle.

8) Synthetics
Given the regulatory uncertainties and risks, I believe @beniaminmincu has avoided this. This is a wise strategy pivot from the original plans. With the decentralized ecosystem, other builders can step up where they see a gap.

7) As we can see, the original vision has progressed & only expanded to address a broader market segment. #xPortal (@getMaiar), led by @sergiubiris, will offer a delightful UX and enable mass adoption.

multiversx.com/roadmap

8) #MultiversX doesn't exist in a vacuum; they have stiff competition to attract today's dominant crypto participants. However, I have yet to find a more well-thought-out strategy to organically grow to enable mass adoption. Hats off to the builders and the team.

9/End) Each new product can be studied by catching the xday.com video.

youtube.com/@ElrondNetwork…