CoinGecko founder explains how the crypto data platform saw the coming DeFi mania
September 30, 2020, 6:02PM EDT · 1 min read
Episode 39 of Season 2 of The Scoop was recorded remotely with The Block’s Frank Chaparro and TM Lee, co-founder of CoinGecko.
This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue.
Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit Bitstamp.net/Pro to learn more and start trading today!
"We knew that DeFi was going to be big and important about sometime last year."
CoinGecko co-founder TM Lee has been keeping the pulse on the DeFi space since starting the platform with his co-founder in 2014. The initial coin offering (ICO) boom of 2017 multiplied the traffic tens of times over, cementing CoinGecko as a popular crypto metrics provider.
Now, CoinGecko is in the midst of another boom — the decentralized finance (DeFi) explosion. The platform has gained even more popularity by listing hundreds of DeFi tokens, becoming a hub of information on for those interested in the ever-increasing projects.
But even though CoinGecko saw the DeFi explosion on the horizon thanks to a few team members interested in the space, on this week's episode of The Scoop, Lee said he wasn't expecting the magnitude seen today.
"If you asked me last year, would DeFi be big today? I just couldn't see that. Will Uniswap be a billion-dollar trading volume that beats Coinbase? I would also say that's not possible. But we are in this world right now," he said.
On this week's episode, Lee talked about how DeFi mania is changing up the platform's approach as well as:
- The genesis of the platform, from early days in 2014 through the ICO craze of 2017 to today
- What's driving Coin Gecko's growth now, and why the explosion came only recently
- How the platform balances offering a wide array of DeFi projects with protecting users from possible scams
- How the team is working to stay ahead of the curve during DeFi mania
- Why the investment side of the team's operations is key in the current climate.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.