When old markets fall, brokerage can be disrupted and accusations of market manipulation fly up, longtime proponents of decentralized finance can only say, “I told you so,” when it comes to the need for an open, unstoppable and unauthorized financial structure.
Earlier in the day, the popular trading app Robinhood took what appears to be a unique move, disrupting the buying function of certain indicators in the wake of a massive wave of retail buyers’ interest in highly scarce assets.
Several commentators have pointed to the Robinsud Paradox – an app that focuses on naming, marketing, and the concept of the principle of democratizing finance – that is now turning away from what has been described as a popular uprising against large hedge funds.
In a statement to Cointelegraph, Sino Global CEO Matthew Graham said the broker’s mistakes are a good example of the importance of DeFi:
Robinhood’s verified tweet says, “We’re all interested. Our time has come. But their outrageous decision to stop trading GME and other stocks exposed their lies and only highlighted the immense importance of the construction we do every day on DeFi. Unsurprisingly, even though the rise in bitcoin prices has chilled Defi’s reliance on the hockey stick. ”
Even before Robinhood turned off access to certain assets, users complained for a week about intermittent servicing of multiple brokers, resulting in a stock market like Uniswap becoming unstoppable and not meeting the needs of a particular user.
Jordan Gustav, COO of Aave, said user neutrality is a key component of the Defi architecture.
In a world where revocation, denial of rights, and varied access to finance have become a reality for most people, the importance of an open economy and protocols like Aave cannot be underestimated. The building blocks, called DeFi, are the backbone of a mathematical marketplace and an impartial economic infrastructure. Political. ”
BadgerDAO founder Chris Spadafora echoed this view.
Spadafora said: “Badger’s goal is to enable users to use their bitcoins for open funding without relying on central platforms. This means that regardless of identity, opinions and / or actions, they have the right to freely participate in the capital. ”
While it remains to be seen whether the volatility and allegations of misconduct in traditional markets will lead to a wave of adoption, the DeFi developers were quick to seize on this moment – a moment they have long been preparing for.