In this episode
- The decentralized hiring process at SushiSwap: The process of selecting the head chef through a public vote and debate, and how it compares to traditional hiring methods.
- The role of interest rates in the DeFi space: The potential for DeFi to retain interest rates above those in the traditional finance world, and the impact of the current economic climate on the industry.
- The challenges facing the DeFi industry: The potential impact of a recession on the industry, and how it may serve as a litmus test for the strength of decentralized projects.
- The future of DeFi: The potential for DeFi to replace traditional finance infrastructure and provide access to innovative products and solutions in a decentralized framework.
- The optimism of the DeFi industry: The belief that the teams that survive the current economic downturn will be the ones that outperform the market in the long run.
In the latest episode of the Crypto Slate podcast, host Akiba and guest Jared Grey delve into the world of decentralized finance (DeFi) and its potential impact on traditional finance. Jared Grey, who, late last year, took on the role of head chef at SushiSwap, a decentralized exchange (DEX) built on the Ethereum blockchain, provides insight into his experience with the decentralized hiring process and his new role in the DeFi space.
The conversation begins with Akiba asking Grey about his background and how he ended up in the role of head chef at SushiSwap. Grey reveals that he does not have a culinary background, joking that the only dishes he knows how to make are the ones he made on the first few dates with his fiancé. He then goes on to explain that his appointment as head chef was the result of a decentralized hiring process, in which he and other candidates participated in a public vote and debate to determine the best fit for the role.
When asked about how this process compares to traditional hiring methods, Grey notes that it was more nerve-wracking but also more exciting, as it allowed for a more transparent selection process. He goes on to say that the experience was a “first of its kind” and something that other decentralized projects could learn from and implement.
The conversation then shifts to the topic of interest rates in the DeFi space, with Akiba bringing up Coinbases USDC interest rates being lower than the Federal Reserve’s interest rate. Grey comments that while it would be nice for DeFi to outperform traditional finance in terms of interest rates, he is more focused on replacing traditional finance infrastructure and providing access to innovative products and solutions in a decentralized framework.
The conversation then turns to the current economic climate and its potential impact on the DeFi industry. Grey acknowledges that it will be challenging, but he is optimistic about the future of DeFi, stating that history has shown that money goes through periods of reconstruction and renaissance. He believes that the teams that survive the current economic downturn will be the ones that outperform the market in the long run.
In conclusion, the podcast provides valuable insights into the current state of DeFi and its potential impact on traditional finance. The decentralized hiring process at SushiSwap and Jared Grey’s experience as head chef offer a unique perspective on the transparency and openness of the DeFi space. Additionally, the conversation on interest rates and the current economic climate highlights the challenges and opportunities that lie ahead for the DeFi industry.