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TheBlock 2021-06-05 05:34:41

Protocols built on protocols: moving higher up the DeFi stack

Quick TakeThe most popular DeFi protocols to date have offered the “simplest” financial primitives. E.g. a stable medium-of-exchange, lending, trading.Many ideas on Ethereum have been ported over to other chains — arguably improved by higher scalability — but often there’s been little innovation in protocol mechanics.New protocols building on existing infrastructure components is where the more interesting innovation in DeFi is happening.

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