Oct. 11, 2022

Why Yield is Crypto’s Killer App with Derek Barrera

Why Yield is Crypto’s Killer App with Derek Barrera
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Today’s guest is Derek Barrera, Founder and CEO of Steer Protocol. Steer Protocol is a platform for cross-chain automated strategies with secure on-chain executions with minimal fees to users, providing maximal yield on earned fees for participating in the protocol. Steer enables users to create/use/upload yield-generating models called Strategies from complex algorithms to recurring tasks with zero computation cost and on any blockchain. Steer infrastructure offers endless possibilities like Automated Liquidity Management, Loan Payments, Asset Management, Data Availability Marketplace, Automated Governance, Oracles, etc. Users can write in any programming language and execute on any chain. Steer currently supports Ethereum, Bitcoin, Optimism, Polygon (Matic), and BSC. Derek has 14 years of software experience. He is a highly-skilled, energetic professional with a strong software engineering and developer operations background and extensive hands-on experience with many programming disciplines, including MEAN and LAMP stacks, HTML5, CSS3, Javascript, Java EE, C++, and Search Engine Optimization (SEO). Derek has worked in the Blockchain industry since 2016, leading various projects to a combined valuation of over $3.6 Billion. He has built cryptographic cross-chain libraries and enterprise custody solutions for exchanges/brokers. He has worked with over eight different chains and over 500 supported assets. His experience also includes spearheading the creation of an L2 EVM and deploying various cross-chain DeFi protocols. We discuss various topics, including the Steer Protocol, yield generation, the macroeconomic landscape, advice for aspiring founders, and much more. We began our conversation by discussing the benefits of the bear market. Derek explains how founders can take advantage of the bear market. Our next conversation topic centered around Steer Protocol and how it works. Derek describes how Steer’s is optimizing yield strategy and execution. Derek shares how Steer helps users optimize yield strategies on Uniswap V3. We discuss in depth how yield works in crypto. We discuss the state of the macroeconomic outlook and how people are beginning to understand the value proposition of an asset like Bitcoin. We discuss the current Credit Suisse situation and the possible contagion fallout if they default. We discuss why insurance and yield could be the killer apps for crypto and potential avenues for the next growth phase of crypto. Our next topic centered around cross-chain and the possibility of a multi-chain world. Derek explains the problems that cross-chain yield products are facing. But Derek stresses that a multi-chain world is inevitable. We discuss how chains will probably proliferate around use cases and focus on solving specific market needs. Our final discussion centered around regulation. Derek explains why sensible regulation is needed. Please enjoy my conversation with Derek Barrera.


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