Jan 14
DeFi Must Reads
DeFi moves fast, much like in the early days of the internet. By the time you read something, it’s possible its yesterday’s news. The industry doesn’t wait for anyone so don’t get left behind!
We’ve put together a list of DeFi must reads for our internal team that we’re sharing to all.
Messari Crypto Theses 2021
If too long, focus on what we believe are the most important chapters:
Chapter 5. Ethereum
Must read on the difference between Bitcoin (Money) and Ethereum (Smart Contracts). Also important primer on the differences between Layer 1 Protocols (e.g. Proof-of-Work, Proof-of-Stake) versus non-Layer 1 tokens, like Aha. Most people do not understand the distinction.
Chapter 6. DeFi
Great introduction on DeFi, loans, yield farming, APY, liquidity mining, AMM, and Dex. Get familiar with all of these terms.
Chapter 10. Infrastructure
Great discussion on exchange infrastructure, which occupy the center of the DeFi, crypto, blockchain universe. The trend to moving away from traditional centralized exchanges (Cex) towards decentralized exchanges (Dex). Another project we are working on and very excited to share soon.
Messari Crypto Theses 2022
If too long, focus on what we believe are the most important chapters:
Chapter 6. NFTs and Web3 Plumbing
Comprehensive discussion on NFTs and Web3. Great section on play-to-earn and Axie Infinity.
Chapter 7. DeFi 2.0
This is a continuation of extremely rapid DeFi developments, so read 2021’s Chapter 6 before you read this chapter. Important to keep up given the speed of DeFi.
Chapter 8. ETH, Layers, and Bridges
Big news is ETH 2.0 and Layer 2 Protocols that increase the network bandwidth and reduce gas fees of smart contracts. Questionable whether Layer 2 infrastructure is truly decentralized, but great for DeFi nonetheless.
Chapter 9. The DAO of DAOs
Another very exciting development are DAOs. We have DAOs in the works so keep post! Section 9.2 is another great discussion about learn-to-earn in the form of user acquisition for DeFi projects, such as Rabbithole and Coinbase Earn. Must read.
