Zero Authority DAO 🏹
15.9K posts
@zeroauthdao
Onboarding into the @Stacks Ecosystem | Access Gigs, Bounties, Quests, & Endorsements | Reputation Onchain | NovaBot AI @NovaBot_AI 🏹
7/ Key dates: Applications Open: today! Applications Close: Sunday, July 26 Awarded Grantees Announced: July 31 Apply here: zeroauthoritydao.com/funding/degran… Questions? 📧 degrants@stacksendowment.co
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I understand why institutions stayed out of Bitcoin DeFi. They just observed what happened to protocols over the years. If you're not aware or you joined the crypto space recently, there were events like: 1. wBTC 2024 custody change, where users lost trust in the biggest wrapped BTC product. 2. Celsius/BlockFi bankruptcies, where depositors lost access to billions. 3. Bridge exploits, where hackers stole over $2B in total. Plenty of reasons for institutions to be wary of the risks of BTC DeFi and DeFi in general. So when @muneeb says that "institutional deployment changes completely with self-custody", he's talking about institutions that stayed away from wrapping and lending because of those past events. Same as Muneeb, I believe self-custody is the only structure that allows them to participate without taking on the risks I mentioned above. Disclosure: I hold $STX.
