DeFi is the ‘Frontier’ to Make a Few Good Decisions and End Up Rich: AngelList Founder


AngelList founder Naval Ravikant has been pretty vocal about his love for Bitcoin and Ethereum. But these two largest cryptos are not the only digital assets Ravikant in favor of; he has about the same kind of love for decentralized finance (DeFi) as well.

As we reported last month in his AMA session on Twitter, Ravikant described DeFi as “The beginning of the end for Wall Street” and much like Silicon Valley’s most successful startups such as Twitter and Uber, “De-Fy” is sustainable, he had said.

According to him, the next big investment thesis for the next decade is actually “Decentralization.”

So, it makes absolute sense that DeFi is the new frontier where one can arrive early and make it big.

Ravikant shared this while replying to Nivi, co-Inventor of Venture Capital who a few days back, asked:

“Back in the day, you could show up in SF, make a few good decisions, and end up rich and successful in 5-10 years. Now, what do you do?”

“Same as you always did – move to the frontier. The frontier is the place where the risk-takers have arrived, but the masses and the bureaucrats have not,” said Ravikant, who invested in Uber, Twitter, Stack Overflow, Wanelo, and many other companies, over the weekend.

And today, that frontier is “probably DeFi,” he said.

DeFi space has now grown to over $20 billion in TVL, up from a mere $675 million at the beginning of this year.

Trader and entrepreneur Qiao Wang is of similar opinion as he puts out the frontiers of crypto — BTC pre-2013, ETH pre-2016, and DeFi pre-2021.

The gains of DeFi tokens also outperform the biggest cryptocurrency by a huge margin. Some of the notable gainers of the DeFi market in 2020 include AAVE (4,327%), YFI (2,138%), SNX (7,70%), Loopring (632%), and Bancor (482%), just to name a few.

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