21.09.2025 08:49
Based on reports from internet sources, Vitalik Buterin, a co-founder of Ethereum, has suggested that incorporating low-risk decentralized finance (DeFi) protocols could furnish the Ethereum network with a vital stream of revenue, thereby fostering greater economic stability. In a recent blog post, Buterin drew a parallel to Google's business model, where services like Google Search underpin a broader ecosystem.
Furthermore, Buterin envisions these low-risk DeFi protocols extending their influence beyond mere financial applications. He emphasized their potential to enable non-financial applications while simultaneously upholding the cultural values intrinsic to the Ethereum community. This concept, as Buterin articulated, has the capacity to resolve significant internal disagreements within the Ethereum community concerning whether revenue-generating applications are aligned with the platform's core ethical principles.
He contrasted the present state of Ethereum-based applications, where non-fungible tokens (NFTs), memecoins, and speculative trading dominate, with the struggle faced by semi-financial and non-financial apps that embody Ethereum's cultural ethos. These culturally aligned apps, he noted, are either failing to achieve widespread popularity or are unable to produce sufficient revenue. This imbalance, Buterin argues, has fostered considerable discord within the community.
As an illustrative example, Buterin referenced the deposit rates for stablecoin lending on the DeFi protocol Aave. Currently, blue-chip tokens like Tether and USDC yield approximately 5%, while riskier tokens offer rates exceeding 10%. He compared this to Google, whose revenue streams are mainly from search and advertisements, which dwarf earnings from other products. Buterin's remarks coincide with a notable milestone for Ethereum's DeFi landscape, as the total value locked (TVL) recently surpassed $100 billion for the first time since 2022, marking a significant recovery from the DeFi TVL decline witnessed during the 2022-2023 bear market.
