During the recent critique of Ethereum, one of its co-founders-Vitalik Buterin-took very active part in the debate. The debate was for “not caring” about decentralized finance. It started when Kain Warwick, the founder of yield farming, aired his bitterness on a talk show. Warwick said that Buterin’s comments were self-centered on the place of DeFi in Ethereum. Also, the Ethereum Foundation not developing the sector.
For this, Buterin made an attempt to put up some clarity with a post that he made on social media. He supported DeFi that comprises of decentralized exchange and stable coins like RAI. However, he also ridiculed some, like the 2021 frenzy of liquidity farming, saying it cannot be long-term sustainable.
Buterin was clear on his part that the DeFi is important but it should be in coherence. It should be conformity with Ethereum’s core values of decentralization and permissionless. He emphasised that DeFi must be ‘use the case’ and ‘stick around’.
This debate also arises because, quite recently, the Ethereum Foundation transacted 35,000 Ether, worth approximately $96 million, thereby triggering several discussions about the treasury management activities of EF.
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