Why Radix is for Decentralized Finance?

by Piers Ridyard, CEO ng Radix

from CopperCasts: Show & Tell: https://www.youtube.com/watch?v=sSMHKrLNiz4

Decentralized Finance is the killer application for cryptocurrency platforms
representing a fundamental unbundling of financial products and services on an open decentralized network ready to take on the internet for the long term impact is going to have on humanity.

However it is both booming and in crisis. In the last 90 days we’ve seen DeFi go from 1 Billion dollars under management to 7 BIllioon dollars under management, now sucking in assets at a rate of 1 B dollars every 2 weeks.

On this graph you could see the meteoric rise starting towards the end of June of this year this is where true product market fit for DeFi started to take shape in the form of interoperable finance with enough DeFi applications on the same ledger, it is now possible to go from a loan in an application like Aave
to on-ledger exchange applications like Uniswap to derivatives platforms like Synthetix.

And build financial products from these compatible money legos in seconds, and so liquidity has flown in. With decentralized exchanges like Uniswap now beating many centralized exchanges for daily volume. A new invention such as liquidity mining, exciting the community, transaction volumes has now reached new peaks on Ethereum.

And therein lies the rub, Ethereum is literally groaning under the weight of all operations that continue moving across the Ethereum Network.

These chart shows how bad it got recently, with some simple operations like adding liquidity to Uniswap topping out at over 180 dollars in network cost alone. Unfortunately, solutions like Ethereum 2.0, Polkadot, Cosmos, Avalanche and Near all break the fundamentally important building blocks of DeFi, Atomic Composability.

And this is what we built Radix to solve, the first Layer 1 built specifically to serve the needs of DeFi.