As the crypto market is continuously falling and TerraUSD collapse has discouraged the community, many of the industry experts including Uniswap Labs’ COO are encouraging community members to focus on growth by staying strong.
Uniswap Labs’ COO encouraging remarks
During a panel discussion at the Permissionless conference in Palm Beach, Uniswap Labs’ COO Mary-Catherine Lader remarked the followings:
“One of the advantages of a bearish market is that other sources of validation go away. All you have to worry about is if what you’re doing will function and whether people will utilise it. Uniswap Labs’ current focus is on streamlining the user experience.”
The advice of other industry leaders to the community members
The industry experts present at the conference agreed to prefer the focus on what developers are producing and enthused about right now rather than the industry’s bad tales.
Stani Kulechov, founder and CEO of Aave, expressed surprise at how rapidly the sector has evolved. It is no small achievement to have billions of dollars of wealth locked into smart contracts in just a few years.
Robert Leshner, CEO and creator of Compound Labs remarked that the industry needs passionate people and finance to get out of a bearish trend. The source of that finance would be institutional investors.
Leshner further explained that historically, DeFi has been headed by individuals. However, the industry’s primary goal is to enable institutions with billions of dollars to securely invest capital into DeFi.
According to experts, Decentralized finance (DeFi) industry executives are looking beyond today’s market conditions.
Even with the panellists’ confidence, the issue of how Terra’s stablecoin’s failure will affect the rest of the industry persists. They agreed that after Terra’s failure event, regulators are on full alert globally.
