‘DeFi doesn’t exist anymore,’ just onchain finance: Andre Cronje
60-second summary
Andre Cronje asserts that DeFi protocols have transformed into "onchain finance," abandoning their original principles of immutability and decentralization. This shift is evident in the increasing reliance on centralized oracles and the use of off-chain data. The evolution of DeFi into onchain finance has significant implications for the industry, potentially altering investor expectations and the overall ecosystem.
Flying Tulip founder Andre Cronje contends that DeFi protocols have evolved into a new financial paradigm of “onchain finance” but have sacrificed some of their inherent immutability and decentralization.