Between late September and mid October, we conducted interviews with eight Polkadot Parachains (thank you so much!) that are either building DeFi products or having notable DeFi activities regarding their needs and concerns. We combined the learnings to an internal Parity Forum post on Oct 25, 2022. …

Adding to the excellent points raised above, I would add to the “analytics” category. It would be fantastic if we had dune analytics or something similar where based on the parachain data anyone can build dashboards. At the moment, building dashboards requires a lot of effort since those need to eit…

Awesome topic, agree on everything! I would like to elaborate on the points provided: 1. Stablecoins: We would like to have some sort of ecosystem program developed where there is support for native stablecoins: In my vision it should entail following areas: Liquidity program to bootstrap initial…

Some more detailed thoughts on Ledger hardware wallet based on the input from our devs. Issues with ledger app integration: There should be one universal ledger app that will work with all parachains. The closest analogue is the Cosmos ecosystem, in which one application supports most of the proje…

Love this topic and totally agree with the ideas! I’ll add up 2 ideas for “what we need”: DeFi aggregator like 1inch or Matcha using XCM. Right now the liquidity is scattered on different parachains. It would be helpful to have a DeFi aggregator which can find the best route to swap assets by lev…

I agree with many points here. One thing I definitely want to point out here is that we need a better wallet in our polkadot ecosystem to support further user growth in overall DeFi ecosystem. In terms of UX, especially regarding multi VM, it could be ideal to have a better option.

[image] Peter: The main obstacle here is the need from the wallet side to support different data models for different parachain architectures. Also, there is no solution which supports both EVM and non-EVM chains (there is Encrypt wallet but they charge very high fees for integration, maybe it’s…

[image] Peter: In the case of the Polkadot ecosystem app, the call data is already being decoded in apps/mobile apps. In order to be sure that the ledger has a corresponding call data, it’s possible to display the hash of the call data both in the extension / mob. application, and on the ledger.…

[image] marvin: Defi analytics toolings for multi-parachains. Specifically, a ranking board for cross-chain and cross-swaps / leading protocols/stablecoins. Only with such tools Polkadot Defi degens can seek the best protocol for their certain purpose. A router using XCMP is like 1inch, but the…

[image] Mingshi: Liquidity bootstrap for decentralized collateralized stablecoins. Centralized stablecoins are definitely a must-have for institutional investors. But decentralized collateralized stablecoins are better ways to leverage existing assets in the Polkadot ecosystem for stablecoin liq…

[image] Peter: 4. Liquidity Lots of problems here: No initial bootstrap, limited options, hard to attract institutions / whales. No ecosystem-friendly market makers willing to work with DEX Fragmented bridging and limited outside liquidity options Hard to compete with bigger, better funded pr…

What needs to happen for our DeFi Ecosystem ASAP?

Ecosystem

Rae November 20, 2022, 9:07am 13

There will also be a DeFi session on Dec 1 during the Polkadot Summit. If you will be in Lisbon during that time, please join us!

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What needs to happen for our DeFi Ecosystem ASAP?

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