This year was an explosive one for the cryptoeconomy, and the star of the show so far has easily been Ethereum and its blooming DeFi and NFT arenas.
That’s interesting, seeing as how in 2019 folks had no shortage of 2020 DeFi predictions, but it seems now in retrospect almost everyone underestimated just how far the Ethereum ecosystem and its sectors would advance this year.
All that said, now it’s time to start calibrating our predictions for the coming year with the new information we now have available to us from recent months (which seem rather like years, right?). So, as an Ethereum analyst, here are my 2021 predictions, i.e. 10 milestones I think the Ethereum community has great chances of notching next year.
Uniswap Hits $10B
As Ethereum’s premier decentralized exchange, Uniswap was right at the heart of much of 2020’s DeFi swell. That propelled the trading protocol into being DeFi’s largest dApp right now with a total value locked (TVL) of +$2.6 billion USD.
I say Uniswap’s superior service and position continues to propel its growth to the point that the project’s TVL grows 4x from here and easily surpasses $10 billion in 2021. At press time, the TVL of the entire DeFi ecosystem was $11 billion, so if Uniswap accomplishes such growth so fast it’ll really be quite the show.
Rai = Serious Dai Competitor
Leading decentralized lending protocol MakerDAO used to only underpin its Dai stablecoin with ETH as collateral. As the project’s since embraced other tokens as collateral types, new kinds of risks that have been introduced that have turned off some users.
What’s attractive to more than a few folks in DeFi, then, is the idea of a more conservative Dai competitor. And that’s where the upstart Rai project comes in. Notably, Rai relies on reflex bonds (akin to a more stable version of ETH) for collateral and has a minimized-governance structure. This model makes Rai poised to gain some serious adoption in 2021 (and beyond).