Founder of Aave: “DeFi frontend applications” such as payments will drive widespread adoption of Web3

Aave founder believes Web3 adoption will be driven by DeFi frontend apps like payments.

Recently, old DeFi projects have performed well, triggering speculation about the next round of DeFi Summer. Stani Kulechov, the founder of Aave, believes that after years of development, a few leading DeFi protocols are becoming public goods. Building truly consumer-friendly “DeFi front-end applications” on top of this mature “DeFi back-end” will have strong development potential.

Powerful decentralized financial infrastructure is actually the condition for a new round of innovation in DeFi. The new potential I see is in the “DeFi frontend” category. Once the infrastructure is established, what can be done with L2 and ZKP to benefit consumers on top of the existing DeFi backend?

Innovations in “DeFi frontend” open the door to exciting use cases such as payments. To increase the GDP of DeFi and even blockchain, it is necessary to solve the problem of payments by building everyday applications that help consumers. Being able to replace the payment layer of the internet (and IRL) with a blockchain-based payment layer will bring a lot of users to Web3.

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“DeFi frontend” is obviously more difficult to establish. This field requires excellent designers, product-minded builders, and the right vision, but the upside is huge. DeFi will be able to expand to truly mainstream usage, which is worth building for.

Reference: https://twitter.com/StaniKulechov/status/1672953127824228354

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