DeFi Visions: Frank Brinkkemper
This is a new installment in DeFi Visions, a series of video interviews in which 1inch talks to the most prominent projects and personalities in DeFi. This post shares key insights from a recent interview with Frank Brinkkemper from Oasis.app.
Frank Brinkkemper is a product manager at Oasis.app, a platform that enables users to deploy their capital into DeFi by depositing collateral and generating DAI.
Frank says he has “never been out of the rabbit hole” since he was first exposed to cryptocurrencies in 2016 through watching the Bitcoin Bible documentary.
Currently working on additional features of Oasis app, Frank is excited to share the details: “Now we allow users to interact with Maker protocol in a more advanced way than just depositing collateral and generating DAI. Users are enabled to open a multiply position and turn on automation features, like liquidation protection or setting up automated buy.”
There are also plans to introduce new functionalities. “We are building a yield strategy feature that enables users to immediately use a generated DAI,” Frank elaborates.
Turning to the subject of the bear market, Frank mentions the silver lining: “We are getting out of the mania. Hearing about coins that make no sense at birthday parties from people who have never touched crypto before, probably isn’t a good sign of a healthy market.” “Meanwhile, with dwindling down, we can finally focus on increasing the actual added value,” Frank adds.
Also, Frank says he hopes this bear market will help to find more ways to connect the crypto world to the real world like, for example, creating mortgages on the blockchain.
“Right now you can get better interest on American bonds than [if you] put your money in Compound or Aave, and which are much safer. This just shows a lack of interconnectedness,” he observes. “And increasing it can help people to protect themselves from inflation, but there need to be solutions which are highly trusted.”
According to Frank, mass adoption of crypto is decreasing because of the lack of credibility, particularly driven by the bear market situation, where “we’ve seen many businesses that don’t take proper care of your crypto when you use them as custodians.”
Frank says he sees more regulation coming in the near future: “All places where transactions from fiat to crypto are done should be very tight. Custodians will be tightly monitored and regulated so that we don´t get another explosion like Celsius.” But Frank also says he believes that “it’s all right when some projects and companies fail.”
Speaking of DAOs, Frank notes that “they can play a bigger role than they do now if they are rightly structured.” But as for his company, he elaborates: “We are a for-profit company, and we are happy about it. There are places for companies and DAOs in crypto. But most decent decentralized projects are DAOs.”
Sharing his opinion on the metaverse, Frank says: “It’s gonna take a while before we fully grasp how we can have full interoperability of the VR world which is a certain type of metaverse. We are at the start of the whole metaverse idea.”
When it comes to metaverse development, Frank says he hopes some non-capitalistic experimentations will bring more collectivity to the metaverse to change the current common approach of “how can I sell my plot of the digital land for a bigger amount of money.”
As for NFTs, “they already have real utilities,” Frank says. “[But]there needs to be more interoperability between NFTs that try to add a real utility.”
Watch the full interview with Frank Brinkkemper on The 1inch Network’s YouTube channel.