Triple Point Assets, Yield Farming & DeFi Psychology

In this episode of Nuggets News, Alex Saunders is joined by Dave Hoffman of Bankless.

They discuss all the latest developments, news, and projects in the DeFi Yield Farming ecosystem on Ethereum, including COMP, SNX, SRV, BTP, YFI, YAM, BASED, and much more.

Hoffman also sheds light on what parts of DeFi and yield farming are getting frothy and what aspects remain promising.

Timestamps:

0:00 David’s pre-Ethereum life
9:45 The unique perspective gained by learning about Ethereum before Bitcoin
13:40 Idea of a ‘bankless nation’
18:20 Layer-two Bitcoin & Ethereum solutions
22:50 Interpreting ETH Gas Station’s ETH25 Leaderboard
24:30 ‘Liquidity mining for liquidity mining’s sake’
26:50 How DeFi has evolved
28:25 The Yam Finance yield farming protocol
29:50 How everything in DeFi is over-collateralized
34:45 Yam Finance’s eight farms
38:30 Ampleforth’s rebasing mechanism
40:45 What is AMPL’s use case?
45:00 Yam Finance (YAM) vs Ampleforth (AMPL)
47:00 Why AMPL & YAM aren’t direct competitors
50:15 ETH as a triple-point asset: (i) Capital asset, (ii) store-of-value asset & (iii) consumable asset
54:20 EIP-1559
55:10 BTC as a dis-inflationary asset, ETH as a deflationary asset
58:00 Bitcoin & Ethereum’s challenges ahead

The interview was first published on August 13, 2020.