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Dragonfly Partner Haseeb: Still optimistic about DeFi, AAVE bad debt is not a fatal blow
ChainCatcher news, Dragonfly Capital partner Haseeb tweeted that despite recent issues like bad debts at AAVE, he remains optimistic about the long-term development of DeFi.
Haseeb pointed out that the DeFi industry is constantly learning and improving through repeated failures. Whether it’s the Terra collapse, the 2020 Black Friday auction failure, or the 2022 stETH de-pegging event, DeFi has repeatedly faced setbacks, but each failure has made it stronger. This is no different from TradFi — traditional finance has also experienced multiple failures, such as the 2008 banking crisis, lending crises, and the savings and loan crises of the 1980s.
The core of DeFi is risk aversion and resilience. Even with some bad debts like those taken on by AAVE, the protocol has enough equity to cover losses, so these failures are not fatal. He emphasized that DeFi will not disappear, and the intense discussions around how to improve DeFi are part of its ongoing progress. Bullish on DeFi, bullish on this community.