Finance Redefined: Samson Mow's DeFi question, Fireblocks expands to institutional and more

cointelegraph.com:

The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes.

We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem.

Top DeFi tokens saw another week of bearish price action despite several new developments and barring a few, the majority of the tokens in the top-100 registered double-digit losses over the past week.

Fireblocks expands institutional access to Terra’s DeFi ecosystem

Fireblocks, a digital asset custody platform, announced that it has enabled institutional decentralized finance access to Terra, the second-largest DeFi protocol by total value locked (TVL). As per the announcement, Fireblocks users can now securely access all the decentralized applications built on the Terra blockchain.

The launch is in response to Fireblocks’ early access program users, who invested over $250 million into the Terra DeFi ecosystem within the first 72 hours of its integration going live.

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‘DeFi is not decentralized at all,’ says former Blockstream executive

Samson Mow, former chief strategy officer at Blockstream and founder of JAN3, is convinced that most decentralized finance protocols can’t compete with Bitcoin (BTC) when it comes to providing an effective monetary network because of their lack of decentralization.

As Mow pointed out, DeFi projects are