ExchangeDEX+

Buy Crypto Markets Spot FuturesXAUT Earn Event Center

2025 Recap

Ethereum has long wrestled with the “non-ouroboros” problem: how to generate real revenue beyond speculative loops of buying, selling, and leveraging tokens on its chain.For years, memecoins, non-fungible tokens, and incentive-driven decentralised finance apps have propped up activity but failed to provide a sustainable foundation for Ethereum’s nearly $100 billion DeFi economy according to DefiLlama data.Now, as Wall Street is increasingly betting on Ethereum as the backbone of the stablecoin boom, co-founder Vitalik Buterin argues that “low-risk DeFi,” which includes things like payments, savings, and collateralised lending, could finally give the network its flagship revenue engine.“Non-financial and more experimental applications, are crucially important for Ethereum’s role in the world and for its culture,” Buterin wrote in a blog post published Sunday. “But they do not need to be looked to as revenue generators.”That’s a major shift from Ethereum’s earlier years, when DeFi was synonymous with double-digit yields on risky liquidity farms and frenzies over cartoon NFTs. Buterin admits he was “more suspicious of DeFi” then, describing its main appeal as “making money from trading highly speculative tokens.”Today, he says, the centre of gravity has moved toward simpler financial products. The raw numbers and other analysts agree.The supply of stablecoins on Ethereum has ballooned 700% since the start of 2021 to more than $160 billion, while real-world assets like tokenised US Treasuries have grown from almost nothing into a $9 billion market.“Stablecoins are the ‘ChatGPT’ of crypto,” Tom Lee, chair of Ethereum treasury firm BitMine, told DL News in August. “And Ethereum is the backbone. It’s legally recognised, and has zero downtime.”Crypto market moversBitcoin is down 0.4% in the past 24 hours and is trading at $115,440.Ethereum is down 0.3% in the same period to $4,472.What we’re readingSaylor says Strategy stock under attack from bot army bankrolled by short sellers — DL NewsPayPal’s PYUSD Integrates LayerZero to Expand Across Blockchains — UnchainedWhat you missed this week — Milk RoadQuestions linger over Hyperliquid stablecoin contest as critics allege unfair advantage — DL NewsKyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.Ethereum has long wrestled with the “non-ouroboros” problem: how to generate real revenue beyond speculative loops of buying, selling, and leveraging tokens on its chain.For years, memecoins, non-fungible tokens, and incentive-driven decentralised finance apps have propped up activity but failed to provide a sustainable foundation for Ethereum’s nearly $100 billion DeFi economy according to DefiLlama data.Now, as Wall Street is increasingly betting on Ethereum as the backbone of the stablecoin boom, co-founder Vitalik Buterin argues that “low-risk DeFi,” which includes things like payments, savings, and collateralised lending, could finally give the network its flagship revenue engine.“Non-financial and more experimental applications, are crucially important for Ethereum’s role in the world and for its culture,” Buterin wrote in a blog post published Sunday. “But they do not need to be looked to as revenue generators.”That’s a major shift from Ethereum’s earlier years, when DeFi was synonymous with double-digit yields on risky liquidity farms and frenzies over cartoon NFTs. Buterin admits he was “more suspicious of DeFi” then, describing its main appeal as “making money from trading highly speculative tokens.”Today, he says, the centre of gravity has moved toward simpler financial products. The raw numbers and other analysts agree.The supply of stablecoins on Ethereum has ballooned 700% since the start of 2021 to more than $160 billion, while real-world assets like tokenised US Treasuries have grown from almost nothing into a $9 billion market.“Stablecoins are the ‘ChatGPT’ of crypto,” Tom Lee, chair of Ethereum treasury firm BitMine, told DL News in August. “And Ethereum is the backbone. It’s legally recognised, and has zero downtime.”Crypto market moversBitcoin is down 0.4% in the past 24 hours and is trading at $115,440.Ethereum is down 0.3% in the same period to $4,472.What we’re readingSaylor says Strategy stock under attack from bot army bankrolled by short sellers — DL NewsPayPal’s PYUSD Integrates LayerZero to Expand Across Blockchains — UnchainedWhat you missed this week — Milk RoadQuestions linger over Hyperliquid stablecoin contest as critics allege unfair advantage — DL NewsKyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.

Memecoins can’t be Ethereum’s flagship for revenue says co-founder Vitalik Buterin. ‘Low-risk DeFi’ could

2025/09/22 01:34

Ethereum has long wrestled with the “non-ouroboros” problem: how to generate real revenue beyond speculative loops of buying, selling, and leveraging tokens on its chain.

For years, memecoins, non-fungible tokens, and incentive-driven decentralised finance apps have propped up activity but failed to provide a sustainable foundation for Ethereum’s nearly $100 billion DeFi economy according to DefiLlama data.

Now, as Wall Street is increasingly betting on Ethereum as the backbone of the stablecoin boom, co-founder Vitalik Buterin argues that “low-risk DeFi,” which includes things like payments, savings, and collateralised lending, could finally give the network its flagship revenue engine.

“Non-financial and more experimental applications, are crucially important for Ethereum’s role in the world and for its culture,” Buterin wrote in a blog post published Sunday. “But they do not need to be looked to as revenue generators.”

That’s a major shift from Ethereum’s earlier years, when DeFi was synonymous with double-digit yields on risky liquidity farms and frenzies over cartoon NFTs.

Buterin admits he was “more suspicious of DeFi” then, describing its main appeal as “making money from trading highly speculative tokens.”

Today, he says, the centre of gravity has moved toward simpler financial products.

The raw numbers and other analysts agree.

The supply of stablecoins on Ethereum has ballooned 700% since the start of 2021 to more than $160 billion, while real-world assets like tokenised US Treasuries have grown from almost nothing into a $9 billion market.

“Stablecoins are the ‘ChatGPT’ of crypto,” Tom Lee, chair of Ethereum treasury firm BitMine, told DL News in August. “And Ethereum is the backbone. It’s legally recognised, and has zero downtime.”

Crypto market movers

Bitcoin is down 0.4% in the past 24 hours and is trading at $115,440.
Ethereum is down 0.3% in the same period to $4,472.

What we’re reading

Saylor says Strategy stock under attack from bot army bankrolled by short sellers — DL News
PayPal’s PYUSD Integrates LayerZero to Expand Across Blockchains — Unchained
What you missed this week — Milk Road
Questions linger over Hyperliquid stablecoin contest as critics allege unfair advantage — DL News

Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.

Market Opportunity

Threshold Price(T)

$0.009736

$0.009736$0.009736

-1.04%

USD

Threshold (T) Live Price Chart

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.