With the launch of the Rainbow Bridge and the planned launch of the EVM we know that NEAR is poised to become compatible with Ethereum, as a hybrid L1 - L2 solution.
This means that existing DeFi solutions that have trouble scaling (i.e. Uniswap or Sushiswap, Balancer, etc. etc.) are going to be prime candidates for porting over to NEAR.
But What About the Future of DeFi?
Right now, DeFi remains in its infancy. Lending, Trading, Aggregation, and Insurance are some of the primary use-cases for today.
But what about tomorrow? If we really believe that DeFi is the future of finance - that the global financial system is poised for disruption - infrastructure inversion - as they say, then NEAR would do well to focus on the DeFi solutions that are just launching today, that will be maturing over the next 2 - 3 years. In short, we can get AHEAD of the curve by bringing them onto NEAR before they go mainstream.
What might this entail?
These verticals, are (arguably) a huge part of the future of Open Finance. They represent the early projects of the next phase of decentralized financial innovation, modelled off of traditional finance but built for a world of smart contracts and tokenization. They are also all young solutions, primarily built on Ethereum, but also on other networks such as Binance Smart Chain.
The opportunity here is to provide them with support and community development on NEAR, before they entrench in their existing L1 of choice. They will scale better, they will onboard easier, and they can get more attention / support.
As a developing community, I firmly believe this is a great play - where we they will be more than accommodated with the emerging Sputnik DAO infrastructure, NEAR Account Model, and low transaction costs.
What do we think?