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Ethereum co-founder Vitalik Buterin believes low-risk DeFi protocols can give Ethereum the stability it needs to grow long term.
He compared it to how Google Search became the backbone of Google’s empire. A steady cash generator that lets the company build other projects.
Tension in the Ethereum Community
Vitalik explained that Ethereum faces a split. On one side, apps that make big money like NFTs and memecoins. On the other, cultural and ethical projects that reflect Ethereum’s original vision but earn little.
This imbalance, he said, has created dissonance in the community. Low-risk DeFi, like stablecoin lending, could fix that. On Aave, stablecoin lending rates hover around 5% for USDT and USDC, and over 10% for riskier stables.
Google vs Ethereum
Vitalik noted that Google makes most of its money from search ads, even though it builds phones, browsers, and AI. Ethereum, he argues, needs its own “search” equivalent. Something steady, not flashy, but not unethical either.
DeFi’s total value locked just climbed past $100 billion for the first time since early 2022. After a brutal bear market, adoption is rising again, fueled by regulatory clarity and new laws like the Digital Asset Market Clarity Act.
Doing Well While Doing Good
Vitalik believes Ethereum can outperform Google because of its decentralized structure. Unlike Google’s ad-driven model that thrives on user data, Ethereum can align revenue with fairness.
He envisions future assets like “flatcoins” tied to inflation, or tokens backed by a basket of global currencies. These could keep Ethereum’s economy strong without betraying its values.
