We’re a team of Wall Street financial engineers, traders, quants, and technologists reinventing permissionless finance for institutional usage.
The first generation of DeFi protocols (“DeFi 1.0”) were created based upon the ideal of providing widespread permissionless access to financial services that was resistant to censorship. DeFi 1.0 succeeded in proving the viability and tremendous market demand for decentralized and permissionless finance. Yet DeFi 1.0 was also built on unstable foundations with fundamental flaws:
• Unsustainable and excessive incentive systems (e.g. ridiculously high farming yields)
• Dangerously high levels of leverage (e.g. Terra/Luna)
• Investor sentiment driven by momentum and “greater fool” theory without any analysis on fundamental value
It seemed the 'move-fast-and-break-things' mantra that tech startups lived by seemed to hold true in DeFi.
While proving viability and demand is one thing, it's another to not break things in the process. The industry needs to instil trust, and build not for the present, but for the sustainable future. DeFi 2.0 will inherit the most solid DeFi 1.0 innovations namely USDC, USDT, ETH, WBTC, and a few more. It will strip out the cruft and introduce stronger foundations grounded in theoretical economics and finance - foundations that are necessary for institutional adoption. In doing so, DeFi 2.0 will further advance the original ideal of DeFi 1.0 by providing widespread permissionless access to financial services and hopefully enable DeFi to seriously rival TradFi.
Infinity Exchange is the first of hopefully many DeFi 2.0 participants that are building protocols for long-term institutional usage. No new terminology, no nonsense, just solid, economically sound, enterprise-grade permissionless finance.
It starts and ends with Infinity.