Ethereum may have found that killer app. Vitalik Buterin, co-founder of Ethereum, claimed that low-risk, decentralized finance (DEFI) could do what Google searched for Ethereum. We can provide a trusted global revenue engine to match the values of our community.
Long-term tension
For years, Ethereum faced a gap between revenue-generating apps and those that met their founding ideals. High-end activities like NFT and MemeCoins brought money, but they had little long-term value. At the same time, projects such as ENS, Lens and Privacy Protocol were innovative, but were unable to maintain a wide $500 billion ecosystem.
That gap left the community waiting for something that could be given a check on both boxes. In 2025, many believe Ethereum has it: low-risk defi.
The meaning of low-risk defi
Low-risk Defi refers to simple and powerful tools such as payments, savings, fully secured lending, synthetic assets, and transparent exchanges between them. Unlike speculative yields agriculture and Memecoin, these services offer real value and are becoming increasingly safer.
Aave, Maker and other platforms already offer competitive deposit rates for Stablecoins. At the same time, while still in existence, hacking and obstacles are pushed into the experimental edge of the ecosystem.
Why is this moment different?
Two things have changed. First, the protocol is mature and reduces risk compared to its early days. Second, traditional finance itself appears to be shaking in parts of the world. To many, Defi’s transparent, automated systems have now become more secure than volatile banks and political currency.
Ethereum’s revenue base is also stable. The demand for transaction fees and collateral from low-risk Defi has now provided stable financial support, avoiding the evil incentives associated with speculative bubbles.
Better models than Google models
The similarity with Google is intentional. From AI models to new programming languages, most of Google’s innovations generate little revenue. Search and ads pay invoices. Buterin claimed that the model encouraged Google to stock up on user data and prioritize profits over openness.
In contrast, Ethereum’s low-risk Defi fits economics into missions. This allows globally permitted access to payments and savings while enhancing the role of ETH as collateral. It is profitable, sustainable and culturally consistent.
Where it can lead
Low-risk defi may just be the foundation. It could evolve into inadequate lending, forecast markets for hedging, and new forms of value, such as basket currencies and flat coins. Each step expands financial inclusion while keeping the spirit of Ethereum intact.
If this paper were to happen, Ethereum’s future may not be dependent on speculative bubbles or short-lived trends. Instead, its long-term growth could be fixed by a stable global demand for a secure, open financial infrastructure.
