At a side event during the EthCC conference in Cannes, decentralized finance (DeFi) purists gathered away from the main corporate venues. Attendees expressed nostalgia for the 2020 “DeFi summer” and skepticism toward traditional finance players entering the crypto industry. Conversations centered on seeking the next major permissionless innovation, with discussions highlighting peer-to-peer markets and prediction platforms.
Decentralized finance proponents gathered at a Cannes pub during the EthCC conference, distancing themselves from the event’s corporate sponsors. The side event, hosted by entities including DefiLlama and Octav, fostered candid conversations about the industry’s direction.
Attendees reminisced about the 2020 “DeFi summer,” seen by many as the peak of onchain finance. Pioneers from that era, like Yearn and Curve, remain enshrined in DeFi lore despite some users losing money.
Discussions focused on identifying the next major breakthrough in the space. Topics included peer-to-peer markets using zero-knowledge proofs and permissionless prediction markets.
The consensus was that innovation would not come from traditional corporate interests. “Everyone is taking sides,” one attendee said of the split between decentralization advocates and institutional players.
This tension defines the industry as institutional interest reaches an all-time high. Many conference attendees were explicitly seeking corporate partnerships and clients.
The influx of traditional finance money is highly visible, influencing the sector’s evolution. The event highlighted a community grappling with its foundational ideals amid growing mainstream adoption.
