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There are financial primitives that cannot exist in traditional finance that I'd call pretty novel. For example flash loans allow uncollateralized loans for mil

There are financial primitives that cannot exist in traditional finance that I'd call pretty novel. For example flash loans allow uncollateralized loans for millions of dollars[0]. Or take KeeperDAO[1] or Dai[2] or any of the other meta protocols generating returns by providing utility. Also the sheer fact that this is all decentralized/identity-less is already a novel aspect. [0] https://aave.com/flash-loans/ https://aave.com/flash-loans/ [1] https://medium.com/keeperdao/a-keepers-guide-to-arbitrage-mining-rook-d9a56373bd14 https://medium.com/keeperdao/a-keepers-guide-to-arbitrage-mi... [2] https://makerdao.com/en/ https://makerdao.com/en/

qeternity 6y ago
Flash loans are just for trading arbitrage. Like I said, speculation is the only major use for cryptocurrencies. You just blanket state that DAOs are providing utility. I asked you how these things are doing that.
- rodiger 6y ago
  Effective arbitrage is required for efficient markets. Again I'll repeat: the sheer fact that this is all decentralized/identity-less is already a novel aspect. The specific DAO's I linked to build products that allow for shared arbitrage profits and an autonomous decentralized stablecoin respectively- the utility is found in the effective distributed markets they help optimize. The very fact that you can trade coins or earn interest on a loan in a decentralized manner is the utility. Composable financial legos are pretty useful.