This article summarizes the main points of EthCC

Author: Donovan Choy

Source: Bankless

EthCC (Ethereum Community Conference) was successfully held in Paris last week. Like the weather in Paris, the event site also set off a "heat wave", and many important guests appeared one after another, revealing everything about Ethereum to the participants. This article will summarize the main points of the conference from four aspects: infrastructure, DeFi, DAO and culture.

infrastructure

Ethereum is only 55% complete

Vitaliks concluded the long-term future of Ethereum on the final day of the conference. The goal of Ethereum is to optimize into a sound base foundation, while complex functions are left to Layer-2, which is called "functional escape velocity".

This requires a lot of rapid change in the short term, which creates volatility for the market and the overall architecture, but the rate of change slows down in the long run.

Regarding how far Ethereum is from completion, V God said:

"The difference between bitcoin and ethereum is that bitcoin investors think bitcoin is 80% done, and ethereum investors think ethereum is 40% done... I would say that ethereum, after the merger, will 55%, so we're approaching the second half of this big, long-term vision."

Zk-Rollups are coming

DeFi is betting big on zk-rollup technology.

Along with zkSync and Scroll, Polygon released zkEVM, a scaling solution that combines zk-rollup with EVM compatibility. The significance of this program should not be underestimated.

Zk-rollup is technically complex, and it has been difficult for developers to build on top of it so far. With the introduction of zkEVM, developers can more easily launch smart contracts on this emerging technology.

DeFi UX needs improvement

While Layer-2 improves transaction speeds, a host of other developers are working in tandem to scale the DeFi user experience in a world of multiple wallets, chains, and assets.

One of the founders of rhino.fi, Daniel Yanev, talked about the importance of DeFi user experience in a multi-chain world. DeFi is complicated to use because its pipeline is still innovating rapidly and has not yet reached the point where simplicity is the focus: "the user is not stupid, but the user experience is terrible".

This puts the onus on developers to simplify the decentralized finance experience into a one-stop platform, especially DeFi aggregators like rhino.fi and deBridge, which launched cross-chain composability at ETHCC.

DeFi

VeTokens makes a strong debut

The Curve liquidity wars have inspired a new paradigm of "meta-governance" veTokenomics, making governance tokens valuable by letting users lock them in to increase yield and governance power, but at the expense of liquidity.

A major player in the Curve liquidity wars has unveiled Liquid Lockers, which will allow users to leverage their veTokens for yield, SDT incentives, and governance voting rights without the same restrictions, enhancing their veTokenomics.

This feature is live and currently available for CRV, FXS, ANGLE and BAL.

Cosmos DeFi is popular

While it's an Ethereum community conference, the conversation isn't always about Ethereum. Cosmos is also in the spotlight.

Osmosis co-founder Sunny Aggarwal explained why developers (referring to dYdX) are finding cross-chain DeFi like Cosmos more and more attractive. higher fees), custom execution models (e.g., experimenting with different virtual machines, multi-asset shielded pools), self-executing code (e.g., batch AMM), custom transaction ordering, and more.

Sebastien Couture, the founder of Interop Ventures, is also optimistic about Cosmos' cross-chain DeFi. He has followed many top projects in the ecosystem, such as Osmosis, Evmo, Kava, etc.

DAOs

Regen's chance has come

How to create Web3 systems and projects that can withstand shock events?

Kevin Owocki has an important point to make on this important issue.

RetroPGF in focus

Optimism’s CTO, Karl Floresch, gave a lively presentation on retroactive public goods funding, in which he shared how Optimism’s vision combines a broad positive impact on Web3 with profit rewards for individuals.

In this way, the creation of public goods becomes profitable.

DAO governance is very difficult

Stablenode's Doo Wan Nam talked about some of the biggest challenges and best practices in DAO governance, while Aragon DAO's Ecosystem Director Ivan Fartunov dived into how infrastructure tools can fill the gaps.

One of the unobtrusive facts about running a DAO is that you are operating in a highly uncertain space with a lot of risk.

culture

Web3 Social Era

Stani Kulechov, founder and CEO of Aave and Lens, is a leader in decentralized social media. Lens lowers the barriers to building what we traditionally think of as "social media" on a unified composable social graph protocol, so Web3 social will prioritize user experience, rather than just acquiring users and curating walled networks like Web2 effect.

Ethereum goes to Hollywood

Camila Russo, author of The Infinite Machine, is working on Ethereum’s first full-length Hollywood feature film. Russo co-producer Alejandro Miranda confirmed that they are writing the script. Because this is a movie about Web3, the production of the movie itself is intertwined with all aspects of Web3. For example, if you mint an "Infinite Machine Movie NFT", you can appear in the movie.

NFTs are the key to distributing community ownership

Finally, Tom Borgers, founder of 3mint, said that NFT was originally a luxury speculative commodity, but by giving users real ownership (copyright), through complementary partnerships and utilizing new distribution channels, it will develop into a commercial brand and content A proven way for creators to acquire customers and fans.

There are still many topics that have not been covered at the conference, but we know that encryption technology is advancing at an unprecedented speed. After all, a bear market is a great time to build.

You can watch videos from all the EthCC conferences here .