I really enjoyed watching this recent panel discussion on the current state and projected future of the DeFi (decentralized finance) space with Kain Warwick (founder of Synthetix), Stani Kulechov (founder of Aave) and Sergey Nazarov (founder of Chainlink). The whole discussion is well worth watching, but I found one specific part especially interesting — when Nazarov shares the key developments he has seen in the space lately. They are:

1. Smoother user onboarding

The products launched by DeFi protocols are getting better in terms of both end-user experience (user interfaces improving) as well as interoperability with other protocols (easier to connect). This enhances the onboarding experience and will get people into DeFi in a smoother way.

2. More crypto value waiting to enter DeFi

The amount of value in crypto assets is about $2T, but only between $70B-$120B (roughly 3.5%) of this value is in DeFi. This makes Nazarov believe another 0 can soon be added to the end of those DeFi numbers ($700B-$1.2T)

3. New markets opening at rapid speed

The use cases of smart contracts are expanding rapidly as new protocols are launched and protocols are used in conjunction to generate value for the users. The global accessibility of these services makes it extremely powerful and likely that the DeFi space is at the very beginning of its journey and there is a lot of potential and opportunities coming up.

Watch the full video if you want to hear more about the DeFi space from some of the biggest and most important innovators in it!