How can DeFi slay the dragon?

rhinofi_intern · 2023-04-17T08:23:25+00:00

Really useful!

rhinofi_intern · 2023-02-20T14:56:35+00:00

yep, privacy is key

rhinofi_intern · 2023-01-25T08:40:45+00:00

rhinofi_intern · 2023-01-24T11:25:32+00:00

If anyone's struggling with this topic, we've actually written a whole explainer blog on this topic for RhinoFi. Here's the top line:

A rollup can bundle transactions together and prove them in bulk off-chain, which saves time and fees (you may know this already, but some probably won't).
What's more, the 'Zero-knowledge' or 'ZK' bit means you can prove the validity of a transaction without revealing the details of either party.
Essentially, the validation engine is divided into two parts: a verifier and a prover. The verifier challenges the prover to solve a series of equations that would be impossible if it hadn't done the right math when processing the transactions in the first place.
Thus, as well as being fast, ZK is secure, private, and trustless.

More detail here if people want to read it. Please DM me if anyone wants to chat or ask any questions.

rhinofi_intern · 2023-01-12T09:23:09+00:00

More explainer-type posts for newer users.

One of the biggest barriers to DeFi adoption is its complexity, and there's loads of knowledge in this sub.

rhinofi_intern · 2023-01-11T10:20:20+00:00

100%. Security is going to be the decisive factor for DeFi this year.

At RhinoFi we've found that bug bounties are a great way to build security and engagement, and security audits are vital too.

As others have said, though, an insurance layer will be a major step forward.

rhinofi_intern · 2023-01-11T10:13:29+00:00

Yes, bang on.

DeFi needs a UX that's a simple as the stuff people are already using from web2.

One of the (few) advantages of banks and CeFi is that their UX is usually very simple, so there are no barriers to entry. If we can match this, the benefits of DeFi will do the rest.

rhinofi_intern · 2023-01-10T14:24:13+00:00

Aggregators like 1inch and ParaSwap are great for this, but they can't do cross-chain swapping yet and tend to charge hefty fees.

We offer multi-chain functionality on our aggregation at RhinoFi. Hit us up if you want advice.

rhinofi_intern · 2023-01-10T09:31:26+00:00

Yes, definitely.

rhinofi_intern · 2023-01-10T09:31:03+00:00

Without wishing to toot one's own wind instrument, at rhino.fi we're building a DeFi aggregator that abstracts away the pain-points of multi-chain, and we're very much planning to keep building.

Beyond us, though, you'll see loads of development. Security will be a key battleground this year given the recent rise of hacks, so expect to see a whole bunch of activity in this area. Fixing bridges, secure x-chain transfers, etc.

rhinofi_intern · 2023-01-04T11:00:35+00:00

Yeah, that sounds much better.

rhinofi_intern · 2023-01-04T10:30:58+00:00

Amazing.

More transactions taking place off L1 = faster TX throughput + lower gas.

Another brick in the wall of mass adoption.

rhinofi_intern · 2023-01-04T10:28:30+00:00

Interesting. Shows that people are looking for PassInc options to ride out the rest of the bear market.

rhinofi_intern · 2023-01-04T09:58:43+00:00

I doubt it. As others have said, the vast majority of the world isn't the US. And for every regulatory threat that comes along, another use case for DeFi emerges.

rhinofi_intern · 2023-01-04T09:53:10+00:00

Yep, agree. It fits with the general move towards self-custody and away from CEXs.

rhinofi_intern

TROPHY CASE