The Founder Fireside Chat series hosted by DeFi Pulse interviews DeFi founders in the hopes of offering readers an opportunity to better understand their perspective and what drives them to build their vision.
This week in this installment in our Founder Fireside Chat series, we talked with Nour Haridy, Founder of Inverse Finance, about not settling for the conventional approach.
I’m one of many others building Inverse DAO and its ecosystem of DeFi products. I’d say what sets us apart from others is that we tend to try unconventional solutions to difficult problems.
For example, we started off by launching a non-tradable governance token and seized free riders tokens in order to increase governance participation. We combined money markets, stablecoins and synthetic assets into a single protocol (Anchor) in an attempt to increase the capital efficiency of all these products together.
Regarding smart contract risk, we resorted to public community reviews as an alternative to the corporate auditing industry. Basically, we’re about trying new things and having fun.
Security. No point trusting your assets to a blockchain that has a track record of being insecure (e.g. Ethereum Classic).
I wouldn’t consider myself an expert on the matter, but I’d say that it helps to have a strong common interest.
In the case of DeFi protocols, that can be a protocol that the community wants to work together to grow.
Many DeFi protocols seem to try to replicate products from TradFi which results in products that inherit the same inefficiencies.
In my opinion, synthetic assets are very under-explored and are our best chance at creating entirely new financial products that resemble nothing we’ve seen before.
The biggest competitive edge in this space is not having a life.
While we at DeFi Pulse can’t recommend not having a life, we would like to take a moment to thank you for reading. And thank you Nour for joining us. You can follow Nour and Inverse Finance on Twitter for more.