Vitalik: Aave is great, I am grateful for its existence; I hope to see sustainable applications without sacrificing principles such as decentralization

PANews reported on August 25 that Vitalik said on the X platform: Aave is good, and I appreciate its existence, but if you tell them you are providing a "loan", it does not provide almost anything that ordinary people would think of.

In addition, Vitalik responded to netizens and said: The types of applications I hope to see are: (i) sustainable and (ii) do not sacrifice principles (no permission, decentralization, etc.). I think DEX is great and use them every week. I think decentralized stablecoins (such as RAI) are great. I think polymarket is great.

I don't think USDC is as good as RAI, but from a practical point of view, we have to respect that it is very convenient and many people are using it. Personally, it is very useful when making international donations, which is much more convenient than banking. We are here to work hard to make the global economy and society more open and free. People in emerging markets use stablecoins to trade freely is a real use case and can be seen everywhere. USDC on Ethereum is also much better than account-to-account transfers within centralized exchanges, which also happens frequently. If we get a lot of people using USDC, it will be easier for people to switch to other more decentralized stablecoins as well.

The things I “don’t” respect are basically things where the attraction comes from something temporary and unsustainable, e.g. I’m not excited about the 2021 liquidity mining craze because it’s clear that it comes from token issuances that are temporary in nature. If someone tells me “you can get a good yield by putting your money here”, my question is always “where is the yield coming from?” Who is on the other side of the transaction and who is paying the yield? If there is a clear answer to this question and there is good reason to believe that it will still be the case in 5 years, then I will definitely be excited about it.