Sunil Srivatsa, CEO of Cove Protocol, on People Losing Money to Better-Informed Traders, Approaching Mass Adoption, and Key Trading Practices | Ep. 354
Cryptonews Podcast host Matt Zahab sat down for an exclusive interview with Sunil Srivatsa, the founder and CEO of Storm Labs, the creators of the Cove Protocol, the first onchain portfolio manager.
Srivatsa discussed the rise of DeFi and yield farming, the need for another automation layer, and how it led to the creation of Cove.
He talked about smaller traders bleeding money to more informed traders, explained why we’re closer to mass adoption, and provided two key trading practices.
Srivatsa remarked that he first heard about Bitcoin in 2011, which piqued his interest. In 2015, Ethereum drew his attention, and he realized that there is technology there that can be used as a tool for capital formation.
He finally bought ETH in 2017 and started participating in various communities, getting his first taste of what was possible in the ecosystem.
2020 rolled around, and “the seeds that would become DeFi were getting planted.” The emerging products grabbed Srivatsa’s attention, particularly the projects that allowed various yield opportunities and enabled earning good returns.
This is how Srivatsa got heavily involved with the Yearn ecosystem when it first launched, actively farming, creating the original governance proposal process, serving on the multisig, etc.
Let’s take a step back:
ERC-4626, the original tokenized vault standard, has become the de facto standard for atomic yield products in DeFi. It currently manages over $8 billion in TVL.
— Cove (@cove_fi) July 11, 2024
“But I always felt there was a layer of automation that was missing on top of that,” he noted.
“This was such a big pain point for me. Why am I spending so much time monitoring all these different positions? I just want to earn the most money in a responsible
Read more on cryptonews.com
