- Ethereum’s dominant role in DeFi seems to be waning
- In a decade, the DeFi sector seems to be boosted
- Kava has several plans to increase its global footprint
According to Brian Kerr, CEO of Kava, the industry is increasingly interconnected due to the current grid congestion. It looks like DeFi will break Ethereum’s shackles in 2021. Indeed, Brian notably touched on the ups and downs of the DeFi industry, but their company will also be launching some exciting products beyond the current hyper.
Ethereum’s dominant role will diminish
In a recent interview with CryptoPotato, Brian mentioned that earlier they observed the market’s preference to bring stablecoins, oppose Bitcoin, Ethereum, and other digital assets in the money markets like Compound. However, such a drastic change in the mindset of the market ended up generating billions in several leading protocols. Brian also said that, according to his vision, the DeFi industry will become more interconnected in 2021. However, as the dominant leader, Ethereum’s role could eventually diminish due to network congestion and high gas costs.
The situation of the DeFi sector in a decade
According to Brian, many suspicious DeFi apps will emerge, which may be more exit scams and pure Ponzi schemes, under the name of real financial products. However, it seems that in the next five years, and several centralized platforms will start the integration of DeFi protocols, which will create a better experience for users.
Brian mentioned that he doubted that even an idealist could provide an accurate report on what and how the landscape would change in a decade, since ten years ago Bitcoin was a baby and Ethereum never existed.
World’s first cross-chain money market on the Kava platform
In the interview, Brian also summarized his first application created on the Kava DeFi hub platform. Notably, Kava’s platform provides the opportunity for Harvest.io to become the first cross-chain money market that can be used by its users to lend, borrow and earn crypto assets. According to Brian, they want to combine financial products and services to provide additional returns to its users.
Kava plans to expand its cross chain bridges
Brian explained that the expansion of cross-chain bridges to allow the use of new tokens in Kava’s DeFi hub is included in annual plans. Kava will also create several applications to leverage digital assets as collateral. Indeed, in the coming months, Harvest 2.0 will be launched, following the AMM and DeFi Robo-advisor applications. Externally, Kava also plans to expand its relationships with several organizations to distribute their services globally. As DeFi becomes more and more prevalent, the Kava protocol will continue to expand partnerships.