Vitalik wrote in Low-risk defi can be for Ethereum what search was for Google:
One of the important tensions in the Ethereum community for a long time has been the tension between (i) applications that bring in enough revenue to economically sustain the ecosystem, whether that means sustaining the value of ETH or supporting individual projects and (ii) applications that satisfy the underlying goals that brought people into Ethereum.
Historically, these two categories were very disjoint: the former was some combination of NFTs, memecoins, and a type of defi that was backed up by temporary or recursive forces: people borrowing and lending to chase incentives provided by protocols, or a circular argument of “ETH is valuable because people use the Ethereum chain to buy and sell and leverage-trade ETH”. Meanwhile, non-financial and semi-financial applications (eg. Lens, Farcaster, ENS, Polymarket, Seer, privacy protocols) existed, and they were fascinating, but they either got very little usage, or paid far too little in fees (or other forms of economic activity) to sustain a $500 billion economy.
This disjointness created a lot of dissonance in the community, and a large amount of community momentum was backed by the theoretical hope that some application could emerge that fills both boxes at the same time. In this post I will argue that, as of this year, Ethereum has that application, something that can be for Ethereum what search was for Google: low-risk defi, with a goal of achieving global democratized access to payments and savings in valuable asset categories (eg. major currencies with competitive interest rates, stocks, bonds).
We believe Mo, with Mo Send and Mo Earn, is a practical expression of low-risk DeFi.
What is Low-Risk DeFi?
When we say low-risk DeFi, we’re not talking about chasing 1,000% yields, risky memecoins, or recursive leverage loops. Instead, we mean basic, trusted financial functions:
- Payments: Sending and receiving money across the world.
- Savings: Earning a fair, sustainable yield on your digital dollars.
- Exchanges: Swapping between assets with transparent, market-based rates.
These aren’t exotic. They’re foundational. And like search for Google, they can support everything else built on Ethereum.
Why Now?
Early DeFi was too risky. Hacks, oracle failures, and yield-farming schemes dominated headlines. The only way it made sense for users was if the promised returns were sky-high - which usually meant unsustainable subsidies.
But the ecosystem has matured. Protocols have hardened. Stablecoin markets are deep. On-chain rails are more secure. And perhaps most importantly, demand is growing worldwide for something DeFi can uniquely deliver:
- Global access to dollars in places where local currencies are unstable.
- Transparent yields that aren’t eaten away by hidden spreads or middlemen.
- Permissionless transfers that work like sending a text message.
Enter Mo: Send and Earn Made Simple
Mo is built around these low-risk DeFi principles.
- Mo Send lets you send money globally with nothing more than a mobile number or a Mo Box link. No fees. No waiting. No hidden FX markups.
- Mo Earn turns your balance into productive savings. You earn yield (often 7%+ APY) automatically, while keeping full control of your funds.
Together, they form a user experience that is as easy as WhatsApp or Venmo, but powered by Ethereum and stablecoins.
Why This Matters for Ethereum
Just like search was Google’s anchor business, low-risk DeFi can be Ethereum’s anchor application:
- Mass adoption: Payments and savings are universal needs.
- Economic sustainability: Billions in remittance flows and global savings can settle on-chain, driving sustainable fee revenue.
- Cultural alignment: Unlike casino-style speculation, helping people send and save money globally is a mission Ethereum can be proud of.
And importantly, low-risk DeFi isn’t the ceiling - it’s the floor. Once payments and savings are in place, a whole universe of possibilities opens: undercollateralized lending, on-chain credit scores, basket currencies, flatcoins, and more.
Why Users Should Care
If you’re used to traditional remittance or banking apps, here’s the difference with Mo:
- No hidden fees: Send money for free. FX rates are fair and transparent.
- Your money, your choice: Hold digital dollars for stability, or cash out to local currency when you’re ready.
- Savings built-in: Instead of sitting idle, your balance earns yield every day.
In a world where banks and remittance companies make billions from spreads and fees, Mo gives that power back to you.
The Big Picture
Ethereum doesn’t need a thousand risky DeFi casinos to sustain itself. It needs one strong, low-risk, everyday utility that billions of people can use.
That’s what Mo is building. Send money like a text. Earn yield like a pro. All powered by Ethereum.
Low-risk DeFi isn’t just the next trend. It’s the foundation for global, fair, and open finance.
More with Mo. Get Mo at get.mo.xyz