Solana DeFi - Fun or nah?

This article was originally posted as a tweet thread. Read it here.

When creating the Solana DeFi Dashboard, I noticed that the two most populated categories were LENDING and PERP DEXES. It kind of makes sense, right? Degens will always be hungry for more leverage and capital efficiency. Product-market fit.

This brings me to the question:

Is there space for FUN DeFi apps in the midst of a brutal bear market?

First off, let's define what ‘fun’ actually means. To me, it’s pretty simple: SPECULATION. You venture out and figure out the inefficiencies, arb opportunities, and determine your edge. Is it information? Is it being early?

In a raging bull market, when money is merely a number on the screen [that only goes up, btw], people love to speculate. There's simply too much money to be made to let your stablecoins sit idle in your wallet. Opportunity cost.

Then comes the bear market, and stablecoins become more precious than ever. You want to hold onto them, collect the yield, and buy LE DIP. You ride it to Valhalla, retire your family AND your neighbors. YAY! Sounds about right, huh?

So, in the space of LENDING protocols and PERP DEXES, is there a place for interesting DeFi apps on Solana? I sure hope so haha, since what we’re building at REdao is what I would define as fun.

• RE Bonds - anybody remembers InvictusDAO? Protocol Owned Liquidity and Bonds 2.0 are here!

• Halvings - spicing up the game theory. Remember the early BTC adopters?

• Infinite supply - that starts at a round 0 - $RE is minted only when SOL enters the protocol

• Floor price - direct correlation between $SOL in the treasury and $RE in the circulation. And it’s ever increasing in $SOL terms

To sum it up, it’s clear why the current DeFi apps seem so mundane [although needed!] - it’s the lack of volume and volatility.

But how much longer will this bear market persist? We're launching REdao in mid-September, and we'll continuously SHIP IT to make the market fun again!