- Vitalik Buterin is interested in particular projects in the crypto industry.
- This included decentralized applications and stablecoins.
- The Ethereum co-founder also highlighted what he disapproved of.
Ethereum co-founder Vitalik Buterin took to X (Twitter) on Sunday to share his thoughts about the types of decentralized applications (dApps) that align with his vision for the crypto industry.
In a long post, Buterin cited decentralized exchanges (DEXs) as an example of applications that are “useful in a sustainable way,” noting that he used them every week. The Ethereum co-founder further lauded Polymarket and decentralized stablecoins like RAI as “great” industry projects.
Vitalik Roots for RAI Adoption
RAI is a decentralized stablecoin with a free-floating price, unlike most options pegged to fiat currencies. The stablecoin is solely backed by Ether collateral, and positive and negative interest rates influence its prevailing market price.
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Noting that “USDC is less great than RAI,” Buterin acknowledged that Circle’s stablecoin earned his respect due to its convenience and penetration globally.
“It's incredibly useful for me personally when doing international donations, way more convenient than banking. We are here to try to make the global economy and society more open and free, and people in emerging markets using stablecoins to freely transact is a real live use case that's happening everywhere,” Buterin wrote.
Buterin said that USDC on Ethereum provided a better experience than account-to-account transfers inside centralized exchanges. He noted that users will likely adopt decentralized stablecoins like RAI if USDC’s use continues to attract more people.
At the same time, Buterin disapproves of projects that offer temporary, unsustainable appeal.
“I felt no excitement toward the 2021-era liquidity farming craze, because it was obvious that it came from token issuances that are fundamentally temporary,” the post read.
According to Buterin, such projects would only excite him if he was sure who was paying the yield and whether that yield would be available after five years.
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