Charles Hoskinson admitted he was wrong about his DApps prediction, referring to his July 2020 tweet. Check out what else happened this week in our Finance Redefined newsletter.
The week was filled with ups and downs for the decentralized finance space, with several tokens registered new weekly highs. Cardano founder admitted he was wrong about his bold prediction on the number of decentralized applications in the Cardano ecosystem, and Coinbase Cloud released a new developer tool suite for the Avalanche blockchain.
SushiSwap community introduced a new proposal for a legal structure to mitigate risks for token holders and members of the Sushi protocol. We had another week another DeFi exploit with Li Finance becoming the latest victim. On the price side, most DeFi tokens in the top 100 registered double-digit gains, and the total value locked in the DeFi market blossomed to over $130 billion.
Referring to his famed July 2020 tweet, Hoskinson tweeted on Wednesday: “Remember when I predicted thousands of assets and DApps on Cardano? Well, I was wrong, there are now millions of native assets issued, and DApps are now in the hundreds. #SlowAndSteady.” However, he may have misremembered his own tweet, as he had predicted back in July 2020 that by 2021, there would be “hundreds of assets and thousands of DApps” on Cardano. While the number of assets appears to have exceeded his predictions by 2022 thanks to new nonfungible token minting protocols, the number of decentralized apps running on the network isn’t so impressive.
Coinbase Cloud is running an Avalanche public validator node as part of the new support features. This allows Avalanche network participants to stake their Avalance (
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