Why DeFiChain needs entrepreneurs — 5 Learnings from the CFP Talk

4 min readJul 1, 2022

The other day we had a CFP Talk with founders and project initiators from the DeFiChain ecosystem. All the people in the talk have also just submitted a CFP (stands for Community Fund Proposal) to present their projects to the community and ask for support for funding.

You can find the video here:

Have a look here, you’ll find the current CFPs. And if you run one or more masternodes, please use your right to vote and support the CFPs and the founders.

Instead of transcribing the video, I would like to write about the lessons learned from this CFP Talk.

1. DeFiChain needs entrepreneurs

Why does a decentralised project like DeFiChain need entrepreneurs? DeFiChain does not have a central authority that constantly develops new use cases and products.

People who are familiar with DeFiChain will now say, “Wait, that’s not true. There is the core developer team, there is CakeDefi. These are all quasi-central instances.

Yes, that’s right. But. The core team continues to develop the chain as the basis for a decentralised ecosystem based on it. Of course, you can use the “decentralised shares” use case via the wallets provided by the core team. But the goal of DeFiChain is to create a Layer 1 for further Layer 2 or Layer 3 applications with the blockchain and its mechanics.

However, these Layer 2 and Layer 3 applications will (perhaps) never be made available by the core team, if only for lack of resources and ideas. This would also not be in the interest of decentralisation.

When I talk about entrepreneurs here, I mean founders of projects that have to finance themselves permanently through community funding because they don’t have a business model, and I’m talking equally about founders whose idea is to create a self-financing business model in the long term — on DeFiChain.

And only motivated founders and project initiators who act independently and contribute their ideas and enthusiasm are able to create a thriving ecosystem.

2. DeFiChain needs more entrepreneurs

It is nice to see that there are now some colleagues who build projects to add value, to realise themselves and their ideas. Respect for that.

However, we need many more courageous people who use their ideas, know-how and time to build Layer 2 and Layer 3 solutions.

Solutions that decentralise the DeFiChain more and create more use cases.

This will lead to a wider reach of the chain, more users, more value, a higher DFI price and a healthier system. Mass with class moves us forward.

3. All have a high motivation to move the ecosystem forward

… and are, by the way, fine people.

We have a lot of conversations with other people in the DeFiChain ecosystem. And in every conversation we notice how these people are on fire for their ideas. How they enthusiastically move their projects forward with their resources and their life time.

They come from different backgrounds. Some have been with us for a very long time, others have only recently joined DeFiChain. But what unites them all is that they want to make a difference, to create something new and useful.

We all believe in the DeFiChain and are grateful to the community for its cohesion, friendly tone and for the opportunities.

4. They deserve support

Maybe you, who are reading this, are more the employee type. Or you are an entrepreneur yourself. In any case, you see, either where you work or where you do it yourself, how long, sweaty and challenging it can be to get new projects or even companies off the ground.

The deal is always to use one’s own resources for the prospect of success and acceptance of the project. And equally, the risk that it doesn’t work.

The first step for most people is to prove that an idea works. That this idea brings added value for the community. That something works the way they imagine. So that the community has something to play with, try out and use.

And for the fact that these people give their ideas, invest their life time and energy, sometimes even money; for this, these people deserve the support of the community.

5. It pays off for the community

Support has many facets. It can be feedback on Twitter or Telegram, in comments or via direct conversations. It can be sharing the link to the project. Talking about it within the community.

It is also the CFP, the funding that supports the project. This first costs community money from the fund. But we should not be short-sighted. We should be extremely far-sighted.

Yes, of course, there will be projects that win, succeed and work. And some that fall into oblivion again.

But all projects, whether successful or not in the end, deserve support. Because people have come together to make a difference.

If more founders notice that the community supports new projects, then more people will try to make a difference with their ideas. Because they see that it falls on fertile ground. And that’s great for all of us in the DeFiChain community.

The more projects that are supported, the higher the chance that there will be many projects that use the chain as a basis for their own transactions and use cases.

And that in turn leads to more users, more reach, more stable DFI prices and a higher DFI value.

It’s worth it, people. Let’s do it together.