Core Insights - Ethereum has struggled with generating sustainable revenue beyond speculative trading, relying heavily on memecoins, NFTs, and decentralized finance (DeFi) applications, which have not provided a solid foundation for its nearly $100 billion DeFi economy [1][4] - Vitalik Buterin, co-founder of Ethereum, suggests that "low-risk DeFi" activities such as payments, savings, and collateralized lending could serve as a significant revenue engine for the network [2] - Buterin emphasizes the importance of non-financial and experimental applications for Ethereum's cultural role, indicating a shift from viewing DeFi primarily as a source of high yields from risky investments [3][4] DeFi Market Dynamics - The supply of stablecoins on Ethereum has surged by 700% since the beginning of 2021, reaching over $160 billion, while tokenized real-world assets like US Treasuries have expanded to a $9 billion market [4] - Tom Lee from BitMine describes stablecoins as the "ChatGPT" of crypto, positioning Ethereum as the backbone of this growth due to its legal recognition and reliability [5] Current Market Status - As of the latest data, Bitcoin is trading at $115,440, down 0.4% in the past 24 hours, while Ethereum is at $4,472, down 0.3% [6]

RT Token Terminal 📊 (@tokenterminal)In contrast to speculative trading, low-risk DeFi is a use case that continues to compound cycle over cycle.Today, lending protocols on @ethereum host approximately $90 billion in user deposits. https://t.co/rD5Zaxn6yL ...

DeFi 行业发展 - 低风险 DeFi 是一个持续增长的用例 [1] - 以太坊上的借贷协议拥有约 900 亿美元的用户存款 [1] - Vitalik Buterin 认为低风险 DeFi 对以太坊的意义堪比搜索之于 Google [1]

Core Insights - Ethereum co-founder Vitalik Buterin suggests that the long-term sustainability of the Ethereum network may rely on low-risk decentralized finance (DeFi) protocols as a stable revenue source [1][2][8] Group 1: Low-Risk DeFi as a Revenue Anchor - Buterin compares low-risk DeFi to Google Search, proposing it as a potential revenue anchor that could support Ethereum's broader ecosystem, similar to how ad revenue supports Google's ventures [3][4] - He emphasizes that the revenue-generating applications do not need to be the most innovative but should not be unethical or embarrassing [4][5] - Aave's stablecoin lending rates are highlighted as an example, with blue-chip stablecoins like USDT and USDC yielding around 5%, while higher-risk assets yield over 10% [4][5] Group 2: Bridging Ideological Gaps - The Ethereum community is divided between speculative products, which generate high fees but lack ideological satisfaction, and applications that align with the network's founding values but often lack revenue [5] - Low-risk DeFi is proposed as a solution to bridge this gap, providing a reliable income source while maintaining the ecosystem's principles [5] Group 3: Market Trends and Regulatory Environment - Ethereum's DeFi ecosystem has recently rebounded, with total value locked (TVL) surpassing $100 billion for the first time since early 2022, following a period of decline during the 2022-2023 bear market [6] - Recent regulatory developments, such as the Digital Asset Market Clarity Act, have revived interest in DeFi, with a survey indicating that over 40% of Americans would consider using DeFi under stronger regulatory frameworks [6] Group 4: Ethical Considerations - Buterin critiques Google's business model for compromising user privacy despite its valuable open-source contributions, contrasting it with Ethereum's decentralized design that aims to align financial performance with ethical outcomes [7] - He advocates for the development of basket currencies and flatcoins to reduce reliance on the US dollar, further emphasizing the need for ethical financial solutions [8]