DEFI

tommyjangles22

Risky yolo but hey if BTC DEFI blows up then we all winning

bemyking

What are some DEFI tokens on Arb to buy?

TheBounceSpotter

>Most of Crypto Has 'No Fundamental Value' Crazy unpopular opinion I'm guessing, but the statement itself is correct. Besides ETH, DAI, some DEFI tokens with solid burn or native staking, some well backed stables, and arguably BTC (I'm not in the BTC boat myself), the vast majority are ponzi's, scams, and at best well intentioned duds.

DadofHome

banks are extremely shitty and providing returns on your money even though they are gambling there asses off with it .. because of this I choose DEFI !

Sonichu

This year I'll be putting most of my funds on DEFI protocols so I can be my own bank. I'm Canadian and our banks our relatively safe and heavily regulated but fuck them anyways. That's all

chance_waters

It would, but I actually like this system. The penalty got me to buy moons, and limiting the percentage means more people need to contribute, which means more users engaging with metamask, learning DEFI, becoming personally involved etc.

chance_waters

I am actually OK with the 25% simply because it is meant to be a governance token, it just takes more community contribution, but that's a great way to teach people DEFI too

nusk0

The safest thing is putting your token in an hardware wallet that you have good control over the seed phrase. Anything other than that has risk. There has been a couple of DEFI exploit over time, so keep in mind that you could lose what you put in and try to diversify if you do it to limit the risk. CEFI can be just as risky and even more depending on which exchange, I would say Kraken and Coinbase are pretty trustworthy but we we're saying the same thing about FTX last year so be careful. ​ My personal strategy is just to hold the token and avoid staking all together. It might not be the best but it's the safest which is fine for me.

nusk0

There's always a risk that the platform (CEFI) or the Smart contract (DEFI) gets exploited. There was a recent 160M hack of EULER DEFI platform for example where users lost everything.

the_far_yard

This is the fear with CBDC. It was somewhat created to cloak DEFI and turn it into a TradFi structure by establishing digital currencies as stablecoins-equivalent. Therefore, knowing exactly your ins and outs.

Skank_cunt_42

This is why I stick to BTC and moons as my reptile brain can understand those two. Not DEFI tho XD

nusk0

Considering we got to 160B of TVL in DEFI last cycle, that number isn't impressive at all.

TheBounceSpotter

I didn't give a shit about Bitcoin, still don't. But in early 2017 I started to learn about Ethereum, DEFI, and Dapps. That's what changed my mind, when I realized there was something legit to the whole Crypto space.

chivakenevil

DEFI summer was started by chainlink. They will start the next one with functions and CCIP.

OCHI33

Nope, banks lend you money and they need your funds for that. Crypto can't replace that because DEFI won't give you money unless you already have money

Random5483

I have a reasonable investment in crypto. It makes up about 10% of my net worth, which is significant funds to me as I hopefully have fewer years to retirement than the years to when I started working. I use a hardware wallet for my crypto. Technically I have two as I have one with the bulk of my crypto and another I use for DEFI. I was a little vary of using my first hardware wallet in DEFI, so got a separate one for DEFI. My seed phrase for my Trezor and Ledger are both kept in two separate safe deposit boxes at banks. To make things extra interesting I mixed the seed phrases for the two safe deposit boxes. Half my Trezor and half my ledger seed phrase is at the first bank and the other half is at the second bank. This way, the seed phrase from either bank is useless. If I only had one device, I would just split the seed phrase in half. It is also important to make sure you provide adequate instructions to beneficiaries to access your funds. They do not need to know you have crypto now, but they need to have instructions on how to access your funds. A will/trust with a list of crypto assets and how to access the seed key at the safe deposit box will resolve this issue.

Former_Accident_2455

DEFI but real yield. If not, we will get get dumped on

Cautious-Grapefruit6

I like the idea of a passive DEFI investment that fuels a reflection token! Could go far.

Tasigur1

TL;DR Hashdex, a Brazilian asset manager, marked the six-month anniversary of its US trading for its $DEFI Bitcoin futures fund by ringing the opening bell at the New York Stock Exchange. The company's CEO highlighted that they collaborate with regulators, in contrast to their competitor, Grayscale. Hashdex aims to become the first crypto spot product, but acknowledges the process will be gradual. Saved u a click.

nyetsub

Only possible if there's a secured decentralized bank utilizing a stable universal cryptocurrency backed by bitcoin, all trustless and on-chain. And to rub salt to bankers' wounds, it would be fun to call this DEFI bank "World Bank" 😅

retirementdreams

Fascinating seeing all the replies and having lost some along with the others. Lessons have hopefully been learned. BTC, heard about it early on in a game forum where someone shared the white paper. I thought, I don't need internet money, I have all kinds of money, even money in this game. And ignored it. Later it pumped, I still ignored it. There was a lot of fud I didn't want to get associated with any of the nefarious activity. Plus I was already working and saving for retirement in my 401k that I could retire in 50 years with, why risk that on magic internet money? ETH, same as above, heard about it, discounted it as magic internet money shit coins stuff - waste of time and money. My fellow cube rats agreed. Stay the course in low cost broad market index funds and keep head down and we can eventually retire on our dog food and mobile home trailers. 2020 - Thanksgiving - wife was out of town - I finally capitulated and learned about BTC and how to buy it. I started studying at something like 15k, and by the time I had all my planets lined up it was walking up the ladder 17k, 18k, 19k, 20k, etc. t 65k, I just kept DCA like everyone said. At 65k it was a nice number. I didn't sell because it was going to be short term capital gains, I didn't want to pay that tax - besides, it was going to 100k , right? So I bought the dip at 63k, all the way down to 15.6k, and back up to 25k. I had BTC, its an asset right? Assets should earn a yield right? How much better to do it by unbanking myself in Celsius. so, I lost 0.25 in Celsius. Some Internet "Influencers" convinced me that BTC was dead money. I should trade some of it for some of these "DEFI Passive Income Projects" earn more money, and go buy more BTC! Well, all of the "Nodes as a service" are a bust. Most of the "Staking Pools" etc. went bust. Most all of the "Defi Projects" I got into went poof or crashed so far I'll never get my money back to buy my BTC back, That is when I learned about people who are "early" "influencing retail" (ME) who would be late, as in , "liquidity" for those "early" people. Lessons learned, fuck DEFI imo. I DCA'd back all of my losses now back into BTC that is in my cold wallet, and that is where it will stay for the foreseeable future.

Zeeterm

The tldr: Don't. If you're too lazy to read all that, then just stay safe by staying away as you'll cut some other corner ay some point and the consequence of a mistake in DEFI can be losing everything.

Sonichu

DEFI if properly utilized and expanded can be the future. A world without degenerate risky big banks we need to bail out is a much better.

ta32ta

Nothing to do with that it's because of lack of maturity in the space. It's like a gold rush and everyone's cutting corners to get stuff to market. Even DEFI UX issues haven't been addressed like blind signing by trezor or ledger.

Sonichu

Don't use their DEFI wallet... Swap your ETH to Matic Get Metamask. Send Matic to metamask Swap your Matic back to wrapped ethereum (WETH) for cents on the dollar Google AAVE Make sure it's the correct site Back up all your seed phrases and don't give it out under any circumstances if prompted Connect Metamask to AAVE if you're confident Supply your WETH, WBTC (wrapped bitcoin), AAVE, etc Never give your crypto so a centralized exchange again

Sonichu

Unfortunately outside of a growing DEFI ecosystem not much use or utilization so far. However that's what the said about the internet 25 years ago and it's intertwined with the zeitgeist. Crypto is around the same market cap as Apple alone, there is much, much more room to grow. But there needs to be a purpose

bigherb33

Transferring everything to my DEFI Wallet from cc.com to their DE-FI Wallet. I’m nervous about holding my coins on exchanges rn. How do I avoid such high ETH transfer fees and cc.com’s even higher transfer fees (bloodsuckers)? Anyone got any advice/experience with dealing with cc.com’s transfers from their sus-exchange to their DE-FI wallet? Also, if cc.com goes under (ala FTX-style), will I lose access to my cc.com DE-FI wallet if the exchange goes bankrupt? Thanks!

Gr8WallofChinatown

DEFI is full of shitty copy and pasted code that’s not audited made by lazy or novice “devs” I will not put my hard earned money into that shitcoin trash environment. Anyone who devs knows this

ussichan

DEFI is literally pretty complex, which makes easy adoption hard for now. OP, my only advice for you is to close your DMs now and be careful or scammers telling you that they could return your funds.

whitdemon

DEFI

DoNotGiveEAmoneyPLS

Man, the shit happened in KyberSwap where a guy lost 2m$ because of a mistake/carelessness and lack of proper UI to help the user is just crazy. Shows how far we are from crypto being mainstream especially in DEFI. Apparently KyberSwap team fixed the UI but welp it is too late.

Walla_Walla_26

I’ve read quite a bit of the comments on this thread and thank you to all the users that are a lot smarter than me. I’ll be honest… this issue is one reason that I haven’t gone into DEFI yet. That being said, we are in a crisis of the USDC depegging type that doesn’t happen often. Do your research and make sure you understand the contracts/protocols you invest in or fund

monaslab

What are the best DEFI investments?

EdgeLord19941

The panic about USDC drained the liquidity so there's only USDT left maybe? Unfortunate but DEFI has a lot of risks

mishaog

And what about the exploits and hacks DEFI has? Neither is a perfect solution, both have vulnerabilities.

Maxx3141

This "nightmare" is why Bitcoin was invented - there couldn't be a greater confirmation for crypto. I wish people would simply stop using stable coins for DEFI, you can build every pair you need vs ETH as well.

GiantCurator

And they say DEFI is super easy and simple...

Beatlone

What if the SVB bankruptcy spreads to other banks as well? The possibility is high. This is unfortunately very bad but it could highlight the transparency of Defi lending. Only problem is that DEFI is often at danger of possible hacks.

wanderer00002020

For DEFI I like INJ a lot.

Snake1856

Looking at DEFI. Maker, AAVE, Compound any thoughts? Looking at AAVE and Compound and looking to see any other thoughts. Thanks!

DMCarter_

> Currently, Cardano runs at 1 tps with 50% network load, so maximum is like 2 tps. Cardano is currently at 2 tps w/ \`33% block load, so max would be about 6 tps (under current conditions). > 36hours finality That's not true in the slightest. Finality in Cardano is \~5 minutes (15 blocks). Where did you get 36 hours from? I never heard of a blockchain that came remotely close to that. >DEFI? Due to design choices they are the hardest and most awkward system to build on. True, PlutusV1 and PlutusTx are the killing point of Cardano dApp development. There are solutions made/being made to solve it, but I guess time will tell if they get usage. >Innovation? Nope. Even when it comes to core of Cardano, the staking model, they started to notice that delegation without KYC options wont be compliant with regulation, so they consider to implement contingent staking, and entirely change it. So, even that isn't truly fit for purpose. Who is "they"? Contingent staking pretty much split the Cardano community in two. Not to mention, it isn't even a CIP yet nor is even designed; it is merely an idea. Cardano's staking model isn't even innovative, as I believe Tezos was first to have liquid delegated PoS. Cardano's EUTxO model and native tokens are objectively more innovative.

Ninja_Gogen

If this shot keeps up there will be no CEX left in the US. It will push DEFI higher or the use of sketchy offshore CEX.

UnknownPurpose

Lmao, heard of DEFI? CEFI? Anything crypto related the past year?

Mediocre_Piccolo8542

Hello, I am someone who invested in ADA 2017, I made great gains, and I used to perform great mental gymnastics in order to defend Charles and Cardano. Therefore, I know both sides, and I am not some salty guy who bought at 3$ Ultimately, I lost all my faith in Cardano in fundamental terms, sure the price can eventually go up a lot due to bull market hype and Charles is a great salesman. But I don't see it to be even ready for end consumer or enterprises grade. There won't be any adoption in the next years, it is technically not possible. Why? The team. Let's take a look at Charles track record. He was co-founder of ETH but got kicked out, he didn't provide any innovative vision, nor wrote any code. With his actual ideas ETH would probably fail. Next project: Bit Shares - another failure. There are few more, with similar outcome. Finally : Cardano. Started as an ICO as CASINO COIN (see ADA Coin) in Japan, with Charles described as "genius mathematician" behind it. In the following year, till 2021ish, Charles promoted Cardano (which was fully centralized) to Americans. As we see, he operates with a lot of manipulation and lies, it was neither a gambling platform and he isn't a mathematician. I wouldn't touch it based on the shady ICO alone, and potential regulatory risk. And that's only the tip of the iceberg, not mentioning all the features and parameters he has promised, or all the crypto communities he would fight for no reason. Technology. First of all, Cardano never had a "measure twice cut once" approach, their endless delays are mainly result of not being planned as smart contract platform in the first place. A six years old smart contract platform, centralised almost for 4 years, and even longer without smart contracts, great. Currently, Cardano runs at 1 tps with 50% network load, so maximum is like 2 tps. Sure, they have EuTXO which gives some extra tps spikes, but heavy smart contracts size occupying most of the blocks bring it down again. Cardano is one of the slowest blockchains on the market, and not particularly cheap. But is it decentralized? Not really, the founding entities hold all genesis keys, and can push any changes quite quick. Secure? We will see, sure there were almost no downtime or smart contracts hacks, but as mentioned, the blockchain was centralized and without smart contracts for the majority of its lifetimes. Strategy. There is none. Charles will simply push narratives which are popular at given moment. What happened to Africa, country states using ADA etc. ? All forgotten, actually Cardano is so slow they plan to offset direct voting to representatives, because direct voting would clog the network . Remittances? Cardano can't handle that with 1-2TPS an 36hours finality. DEFI? Due to design choices they are the hardest and most awkward system to build on. Innovation? Nope. Even when it comes to core of Cardano, the staking model, they started to notice that delegation without KYC options wont be compliant with regulation, so they consider to implement contingent staking, and entirely change it. So, even that isn't truly fit for purpose. Yes, Cardano might still go up, thanks to cult like community. I just don't see it to be meaningful in 10 years. All ponzis like HEX, or fundamentally weak projects like ADA or IOTA, all that will collapse at some point. Either through regulators, or other projects leapfrogging them.

galaxyrizz

Impermanent loss is so hard to understand for the average person. Thats why i love for example the NEO DEFI Flamingo.finance Gives you clear stats and advise on when to restake. Most defi's are lacking this but maybe for a reason...

bemyking

yea its great, i don't need to add all my coins to it, it just grab all coins on my wallet and shows the total price and also shows DEFI that I stake on etc.

wehrami

Main benefit in my eyes is that there a no transaction costs that you find with the fiat off-ramps. Also DEFI yield on stablecoins tends to be marginally higher than the interest yield that you’d get on fiat in a bank. Of course that comes with an extra risk, being as it’s a stablecoin and not fiat itself.

Maxx3141

Many coin trackers allow doing this automatically by now and take the data directly from the blockchain. I still enter DEFI transactions by hand into my tracker, and the full process takes me 5-10 minutes by now maybe.

maximusIota

I feel like Algo is useless when Layer 2 on ETH does the same thing. The Algorand foundation is also way too centralized and are forcing biased voting in the governance (always DEFI vote and nothing about decentralization of nodes) Because of these reasons, I am out of this project.

Sonichu

ALGO DEFI ecosystem is leaps and bounds ahead of ADA and DOT which doesn't necessarily indicate how better ALGO is but how awful the latter two are. ALGO DEFI is simple and fast. I wish ADA could be half as good. I keep buying ALGO and leveraging it because you can do up to 90% and buy other coins like a true degen. Worst case Ontario I buy more collateral if the price dips, if price goes up I'll keep leveraging. This is not financial advice.

Advanced-Highway6128

i think the US stock market is such a mess and so many big players are getting margin called and sometimes liquidated, when the behemoths finally have to pay the piper for naked shorting stocks multiples of their outstanding... when they have to pay that piper, crypto crashes hard, exchanges go out, and then there will be a huuuuugggeee recovery as new money that is made shorting the spy, crypto and long memes, that the next bullrun comes in hard and fast as new money buys in DEFI, causing massive spike increases.. so yes, short term, extremely bearish, long term, extremely bullish

Zhelyazkow

DEFI Winter D-Down in E-Every F-Fuking I-Investment

ahabraken

>t what smart contract a site links to before connecting your wallet and if you find out the contract address, how can you scan it for r Arent there enough legit platforms that dont supply this? Or is it common practice, outside of DEFI, to make everything open source?

RaulCapablanca

Congratulations. Next phase is researching how to put some or all your assets to work and generate some interest. I just use ledger directly for my ATOM staking, the rest i use DEFI

biba8163

> If bitcoin was actually programmable (i.e. Turing complete) then there wouldn't have been much desire to create that separately....I love bitcoin as much as the next guy, but the maximalism with me stops at "nobody else deserves to live" Nobody else deserves to get scammed - there are around ~25,000 shitcoins and more every day - there is always a desire to create another shitcoin - create a shitcoin, keep a fat percentage of the supply to yourself, hype up a use case, pump the limited circulating supply and keep dumping on gullible "investors" and get filty rich - devs, founders and VCs get a large premine supply and seek rent and get richer and richer becoming crypto oligarchs - scam people with DeFi theater where the DAOs, DEXes, platforms are completely centralized with a handful of people own most of the supply and drive all governance decisions - DEFI gang earning high APY on cuckswap, rugpullswap, etc by providing liquidty and yield farming worthless tokens which have no utility but to make the founders rich - Muh, look at the Total Value Locked (TVL) on my shitcoin platform on yield farming rugpull tokens andstaking to stablize the prices while the founders dump tokens on "investors"....oh no, TVL dropped -95% since most of the value locked was scam pumped tokens - Muh, decentralized Oracle, where the only data feeds that are ever used are pulling shitcoin prices for ruckswap, rugpullswap, etc. Generate enough hype and then dump tokens forevermore and the decentralized oracle is a company based in the Cayman Islands

Sonichu

Not exactly an algorithm stable coin, not in the sense like LUNA. It's very overcolaterized with SHEN as a reserve (which I bought a bunch of). It seems like a pretty decent project but DJED isn't the best name for a stablecoin and without a decent DEFI platform for borrowing and lending it yet on ADA I'm not quite sure what it'll look like long term.

PoorHooman123

them being hack is unfortunate. but being able to retrieve back the funds which shouldn't be possible goes really against DEFI.

Skank_cunt_42

Genuinely curious, what are your thoughts on DEFI? I remember a few years ago everyone say it was the next big thing in crypto, now no one talks about it and when they rarely do, it’s negative. Any DEFI enthusiasts that can over their side?

nusk0

When everything centralized was breaking in 2022, DEFI was thriving, Uniswap did not break, and neither did AAVE or Compound. Eth stayed online and did what it always does, work. We got blessed with lower prices, but nothing about the decentralized ecosystem changed or broke. It was all caused by the collapsed of centralized exchange ran by scammers. The ecosystem feels so much healthier than it did in 2022, the scammers are gone, there's a lot of innovation, and activity on layer 2 is popping off. I think we will start the next bull run with innovation and building actual good use cases, and we will probably end it with ponzi's and dog coins like we did in the past.

Walla_Walla_26

Sorry for you losses and I’ll keep that all in mind when I’m ready to DEFI

Walla_Walla_26

And there’s no other way to find out until it’s too late? I’ve yet to dip into DEFI

AnusWithEbola

DEFI my ass, sucks it got stolen but is a bunch of bs that they can just upgrade the contract and take something from a wallet. I'd gtfo

CorrectlySeparate

This is why we need CEXs. If the average Joe will have to learn how to use DEFI to start investing in crypto, he will just no bother.

the_far_yard

You can’t regulate DEFI with TRADFI legacy policies.

BrocoliAssassin

I know what you mean. This was my thought process on it all. More KYC. It won't be just pay your taxes on gains. It will be like the 600 dollar law. You will have to fill out how you got the money, by who, for what? There will be more pressure on DEFI, it may create more jobs in the surveillance industry,etc. It's all designed to keep you in that worker/worry state. I have zero sympathy for the IRS. All these politcians talking shit about taxes. Well then get rid of fucking TurboTax and their bullshit(hell they have the power and no one likes them anways). Then the IRS can send us the tax bills and we can all pay.

nusk0

The Eth ecosystem is responsible for DEFI, smart contracts, and NFT's. It also has the most traffic and users. It took years for ETH to become a blue chip, but I think it definitely deserves its spot now.

SammyCraigar

Well CRO had its update. 5% across the board for validators. It was a good run, I was drawn to the crypto.com DEFI for this reason, sticking to my plan of sending rewards over to Keplr for cosmoshenanigans.

majorpickle01

Would you want to do so via DEFI or CEFI? I can point you in the right direction

Ferdo306

Bitcoin layer for smart contracts so you can do DEFI, NFTs etc And by staking STX, you get BTC which is kind of cool

retirementdreams

Thanks for the suggestion. I have a CPA that is adjacent to the type of real estate I do, and that's a major part of my portfolio, so I will keep him for that and other reasons, but I have had to educate him on crypto - as much as I can with my limited knowledge - and he gets help from his CPA network, but you are right, I would be more comfortable with a CPA who's focus is Crypto, because my guy is useless for operating in that realm. I'm wondering if I can find a Crypto CPA, and have him work on the Crypto side, and feed those reports to my main CPA guy. I think I'm getting into expensive territory here with this idea, and crypto is just a very tiny high risk part of my overall portfolio, so I don't want to put much into that. If I had realized what a nightmare this was all going to be, I would have just done as advised and bought BTC and ETH and hodl. BUT my curiosity got the best of me. I was fascinated and had to see how this CEFI/DEFI stuff worked, and now I'm paying for it, in terms of higher costs, and more time spent, and no alpha to show for it. A lose / lose proposition unfortunately.

nusk0

Eth also did a lot of innovation like DEFI, NFT and smart contracts. They are really not the same and I wouldn't expect LTC to follow a similar path to ETH.

randomFrenchDeadbeat

My thoughts are swapping and trading is the same, and this looks like an advertisement. If it is a DEX, it uses LPs, which have fees, and whatever it uses has gas fees, that dont go back to users. "100% of the trading fees going back to people" is thus highly suspicious, and obviously false. There are many DEXes. They have different functions than CEX, like no on/off ramp usually, and the complexity of being DEFI. People use CEX because it is SIMPLE and they want to on/off ramp.

biba8163

1. No Fiat Onramp. How do I buy anything? I need crypto to buy crypto? How do I buy crypto? Your DEX cannot help. Piece of shit, you wasted by time. 2. "With 100% of the trading fees going back to the people" BLOCK, another pump and dump shitcoin token makes/mode the founders rich and does not make you the owner of the exchange. I've lost track of the number of these money grab shitcoin exchanges that returned trading fees to the "people." 3. " better security against hackers" I guarantee you, a shitcoin token money grab exchange is not spending as much as Coinbase, multi-billion dollar publicly traded exchange, on security. $3.8 Billion was stolen on "DEFI" protocols last year. 4. Zero transparency, controls, etc in DEX and usually a handful of people that control everything in these DEFI protocols and market it as the most secure, fair, governed by token holders, etc. Even what people consider the best example of a DAO is completely centrazlijed. I posted this 3 years ago when Maker had a protocol change voting to use USDC > One man, Rune Christensen controls the system, interest, fees, voting, etc. There are ELEVEN addresses that accounted for 98% of the voting for the protocol change for an "executive vote" used USDC. Eleven addresses control the entire protocol and a protocol change was voted in just...what 24 hrs? And most of those addresses are probably owned by a handful of people. On what planet is that decentralized? https://np.reddit.com/r/CryptoCurrency/comments/fl68d4/comment/fkxc40i 5. Usability. Download an app. Install it. Looks like the Bloomberg Terminal. Those 3 steps itself will scare 95% of users. 6. Support - CEXs have some of the worst support when you compare it to the financial services industry but DEX is even worse. I am not aware of any DEXes that are manning telephones or have ramped up email support to help users with issues.

big13lackliz4rd

DEFI, where the stakes are high and the security is... well, let's just say it's a work in progress.

amyo_b

Well for the decentralization/privacy folks. People like me, who don't care about that, might be willing to use a CBDC issuance. I do not trust any of the CEX exchanges and have seen enough DEFI trainwrecks that I'm uninterested in crypto, but would be willing to get CBDC via a brokerage or a bank. I don't care about sending money world wide. When I shop or go to Europe I'm just more likely to use my credit cards anyway, maybe exchanging a little into Euros since there are still German shops who prefer cash.

Visible-Ad743

DEFI. I stake via stader on polygon network.You can then farm yield via beefy finance or Balancer. If you want to stake on main net Lido is a decent option bit its not the only one.

SafeRecommendation55

"DEFI"

JosePinPanPun

.... Insane why you keep using that crappy platform move to hidotcom or go DEFI and trade on DEx....

QuirkedAnarchist

What do we think are the most promising areas of crypto at the moment? In my opinion, DEFI is already doing great, and I think for greater mainstream adoption (retail, that is) we probably need easy to use UI's and more secure (rather than higher yield) returns - if it is return based at all. To be honest I feel like in future true DEFI will still be mostly for the really keen folks (and pension funds, etc?) and that mass adoption will see more mundane but very high volume use cases. I think 'ordinary' use-case stuff is very exciting - a project on Algorand called Venue.One interests me, its basically decentralised gambling - but what it represents is a use-case that ordinary people will likely be interested in AND probably offers much more reasonable rates than a conventional bookie would. That's just an example I pulled off the top of my head and we have already seen that things like p2p BTC have been massively influential in adoption terms, and that is a service rather than an investment usage. I'm trying to think of what the logical 'next big thing' in crypto will be, I have no idea specifically but I have a feeling it'll be something kinda mundane that is all about encouraging retail (i.e. normal people) - we already have the technology.

LargeSnorlax

What does that matter if you're using cryptocurrency as intended? You'd be staking ETH on whatever wallet you want, completely free of the grip of exchanges. You can get whatever you want in DEFI and never interact once with an exchange. Why would you even stake your eth on an exchange anyways? That's completely antithetical to why you'd want to hold crypto in the first place - Since when did we appoint shady exchanges as the new gods to hold our decentralized money for us? Or if you think ETH is terrible, use Bitcoin instead - Isn't that the original ethos behind crypto, is using Bitcoin as p2p money? What do exchanges have to do with anything in that creed - They didn't even exist back in the day. Just buy Bitcoin, pay in Bitcoin, and bob's your uncle, no?

LargeSnorlax

It *is* good the SEC is cracking down on exchanges, because the vast majority of exchanges are basically illegal chop shops that are wash trading their customer's funds and backing their assets with the same assets hoping not to get caught. That's how we got Celcius and all the other massive exchange failures of the past. The bull runs bring in the scumlords who couldn't hack it in the actual financial markets and lets them operate in shady spaces where they can profit and then run off with customer funds. You'll either have stablecoins that are backed entirely by code traded solely on DEFI, or you'll have CBDCs backed by the banks digital dollars are coming soon. The US doesn't want any dollar that it doesn't control. Stablecoins are literally that, a substitute for the US dollar, that the US dollar can't control. Traditional financial system, or Crypto - You choose. No more of these half measures where a shady exchange owner tells you that he'll hold your crypto for you and keep it nice and safe (until it isn't and he wants to go to the Cayman Islands) and he'll pay you a yield a year, you hold your coins, you keep them save, you put them into defi, or you use what the banks want you to use.

DoragonMaster1893

Harmony was my first DEFI experience and I learned a lot but unfortunately I believe It's a dead chain. I sold everything at 80% loss a bit after a bridge hack. I wouldn't normally sell this low and would let it ride to the next bull market, but I completely lost trust in the project. It's a red flag when the best devs start leaving. I am engineer myself, I have seen that happening in a some companies I worked for, and it's never good sign. I stopped following after I left, but it was basically a ghost chain. assets still depegged, means no Defi, DefiKingdons left, Viper left, Hermes rugged. The only legit project I remember was Tranquil. Even tech wise, I don't see any big advantages compared with let's say Polygon or Avax. They could still turn this around in if they changed leaddership, build a new team and start fresh, but Tse seems incredible stubborn and I don't think it will happen.

jisokoo

Real DEFI

amyo_b

The media? Try the falling domino Cexes (Celsius, Voyager, FTX, ...) the