Ethereum (ETH) founder Vitalik Buterin recently criticized some aspects of decentralized finance. He tweeted that he wanted stable, decentralized applications. Buterin praised decentralized exchanges, stablecoins, and Polymarket, but criticized the unstable products of 2021’s money farming craze. These statements sparked reactions within the Ethereum community. Synthetix founder Kain Warwick accused Buterin of underestimating the importance of DeFi. In a more detailed statement, Buterin even criticized DeFi protocols that benefit token holders from merchant fees. I wanted a story that showed where the profits come from and that they are based on something external. The criticism surprised some diehard Bitcoiners, who agreed with Butrin's comments about DeFi yield programs.
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