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Title: ㅤ Post by: Symmetrick on September 13, 2020, 11:43:40 AM ㅤ
Title: Re: [Tutorial] Decentralized Finance (DeFi) for Noobs Post by: Cadaver20 on September 13, 2020, 03:33:56 PM My knowledge about DeFi was very poor. After reading this tutorial, I got a lot of ideas about DeFi. But one thing is not clear to me. You call DeFi a trustless ecosystem.
trustless ecosystem of financial applications / services based on public blockchains, predominantly Ethereum. So why is everyone running after this trustless ecosystem?Title: Re: [Tutorial] Decentralized Finance (DeFi) for Noobs Post by: CucakRowo on September 13, 2020, 03:48:41 PM -snip- As my understanding. 1. Maybe because defi's dev team usually anon. Means, Investors risk of losing their money will be even wider. (example, https://cointelegraph.com/news/another-defi-exit-scam-just-made-off-with-20m-in-investor-funds) 2. Possibility of a price dump (like sushi). So why is everyone running after this trustless ecosystem? 1. Fomo2. Hopium 3. Unique ecosystem. defi made a surprise and attracted many investors due to YFI. New Defi's project at least expected to (at least) match with YFI price. Imo, number 1 & 2 are the main priorities. Btw, i'm not saying all defi projects are bad. Title: Re: [Tutorial] Decentralized Finance (DeFi) for Noobs Post by: bbc.reporter on September 29, 2020, 01:57:58 AM Also, calling their projects Defi is only a promotional tool. They are Cefi hehehe.
Read this article. I support the affected exchange and projects to do everything to stop the hacker, however, this is not how a real decentralized Defi protocol is supposed to work. Orion Protocol has updated its smart contract to render $8.5 million stolen tokens obsolete, Covesting has frozen the $520,000 stolen, and KardiaChain has invalidated $9 million worth of tokens. Crypto company Velo Labs announced that it will invalidate all of the 122 million VELO tokens stolen in the hack, worth about $76 million. VIDT Datalink will freeze 14 million VIDT, worth about $6.4 million. SilentNotary will replace all of its tokens, including the $94,692 affected, and Ocean Protocol paused its smart contract after $8.6 million was lost. Source https://decrypt.co/43066/130-million-of-kucoin-hackers-haul-to-be-frozen-by-crypto-projects |