Composability Takes Centerstage at Serum Hackathon Panel

We hosted an in-depth discussion about composability and everything else involving the ecosystem with the projects that won the Convergence Hackathon.

By
Mark Jurgens
on
March 3, 2022
Category:
DeFi

Boosting Network Effects Across Solana

The subject of composability has been one of the hotter topics lately, specifically on the Solana space. 

In a panel hosted by Solana News on March 1, the five hackathon winners shared valuable insights about the journey of building on Web3 and Solana, encouraging others to join the space and highlighting the most critical traits protocols should have to succeed. The guests agreed to point out that at the core lies composability. 

Alberto, from Vyper Protocol, shared his thoughts on the importance of keeping this trend alive:

“As a former Web2 builder, I´m amazed how composability is enabling us to go faster and faster. We are integrating with protocols and have access to $100M of TVL, and we can get our users right away. When I was building on Web2, it used to take me weeks to wait for Facebook to approve the access to my API. And after all the approvals, they came up and told me: `If you don´t provide me all these documents in one week, we are going to shut down your business.”
Source

This way, developers can leverage not only the censorship-resistant nature of blockchain but also open source what they´re building so other platforms can essentially adopt the existing infrastructure and provide additional value by creating new layers and ramifications. 

“Every protocol has its core focus. Some might come from a crazy mathematical background and do some crazy stuff like optimizing the order book on-chain like Serum, or might do lending like Solend. And then they open it up. So it´s this pure focus but also the opening up, which means that over time they will also get more protocol revenue. And it´s all those incentives that are aligned that make it work,” expanded Credix´s Co-founder and CTO, Maxim Piessen. “The end-user will probably not even see the lego blocks underneath, but in the end, all these things together make us, as a whole ecosystem, move forward.”

As new infrastructure, primitives and tools have been growing on the chain, developers are looking for ways to build on top of each other to compound the value of the network and boost the technology forward. 

But, more importantly, the ultimate benefactors of composable networks are the users who get tailored and scalable solutions quickly, as builders sequentially add layers to an increasingly consolidated ecosystem.

Head over to the panel event, where the guests discuss Solana´s current trends and where it´s going next.

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Mark Jurgens

Mark is an industrial engineer, born in Colombia and raised in Argentina, a place that is in deep need for the freedom crypto can offer the world. He is searching for projects that want to make a positive impact. Analytical and creative. Loves to travel around. Biggest holdings are Defichain, Ethereum and Solana.

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