of the many DeFi projects, it is quite overwhelming for us to filter which ones can actually serve as a guide. as you said, today they started unable to properly secure the system, so there was a fatal error. we need to be careful what happens. Maybe you still remember DeFi has made a good contribution in 2020 to early 2021 in Q1 and Q2. but often over time, loopholes are seen and make big suspicions that they are too focused on building large ecosystems and extensive networks but not with the immune system. . .
What are you implying? I think you are referring to the BSC.
Binance has an investment fund that encourages projects to grow on their blockchain. The ecosystem of BSC is expanding but they are not rich yet. They only focus on major and prominent trends like DEFI and the upcoming NFT. The ecosystem of DAPPs on BSC is still new and incomparable to ETH.
Perhaps they should have rules to force projects through Certik's audit or Binance to sponsor an audit of the projects. Anyway, Binance owns Certik.
Considering that most of them are just copy-paste garbage, I'm not surprised things like this happen again and again. There is simply a lack of knowledge for users to manually verify the contracts, while they easily spend their money here and there to chase the pump. Hopefully things will get better soon.
The community is encouraging growth in the negative direction. The community is only interested in profit, a few are concerned with quality. It is that encourages developers to develop projects quickly to meet demand. The hype in DEFI nowadays is huge, especially on the BSC.
It happens to many defi project in ethereum network and same thing is happening in the bsc too, why is it so difficult for some of this defi's to tighten up their code, make it more secured even if they are mostly copycats, that's the list they can so to ensure maximum security of funds. Their concern is only to make money out of investors but never want to put any effort.
Sure, we saw countless projects fail on the Ethereum chain a few months ago. There are many names that I have flipped through, I remember some scam projects like CBDAO, YBDAO; source code copying projects such as KIMCHI (released after Sushi launched a while). There are many more projects that I forgot to name.
This is the third time that value defi has been hacked. And this is the second time in a few days
The first one occured a few hours after the devs bragged about having an ultra secure protocol. I think someone wanted to teach them a lesson lol.
Anyway, I am disappointed by these consecutive problems and start to consider leaving this project ... will wait a little longer but ...
The lesson for everyone is to have source code knowledge before getting into a project. The lesson for new projects is to invest carefully before creating a project.
