"This is the root of our cultural concern for crypto DeFi. The cultural, and arguably even structural, commitment to financialization is extremely difficult to reconcile with this core purpose of securities. In a sense, none of this is surprising given the foundations of crypto DeFi. If you jump straight to “decentralized securities” without first nailing down decentralized money and peer-to-peer technology, the urge to financialize is obvious, because what other value or utility can you even attempt to provide?" - Allen & Anders

Check out the full write up with numerous links and references for digging deeper into the ideas discussed:

https://www.uncerto.com/green-eggs-and-ham

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