Is DeFi dead?

[RussianEnglishTranslation]

DeFi on NEAR protocol is growing, Ref Finance has farming and Cheddar finance will release soon. The @ DeFiWizards $MAGIC is creating spells that instruct new DeFi users how to maximize their profits.

[john_nautica]

I think it's NFT era now I rarely heard of DeFi now, it looks like the hype now is on NFT which is not surprising since it is entertaining and you will be able to earn at the same time as well. But I'm not sure if they are dead I see that there's still a lot of DeFI at the market.

[Chuky92]

Most of these are not closely related to DeFi, nonetheless China ban has been on miners and not Bitcoin, India on the other hand, are yet to decide what they want, they have banning Bitcoin for years now but yet looks like they are not serious with it, so no need to bother about it.
DeFi on the other hand, is still much around but the hype has left it for another trend, but that doesn't mean it is no longer working or not in existence or dead, there are still many Defi platforms out there, some even have NFT features thus still making them very much active. Lastly, the reason nothing much is being heard about DeFi now is, NFT trend has taken over as seen everywhere in the crypto space, so little attention is paid on DeFi now.

[btcltcdigger]

I think it's NFT era now I rarely heard of DeFi now, it looks like the hype now is on NFT which is not surprising since it is entertaining and you will be able to earn at the same time as well. But I'm not sure if they are dead I see that there's still a lot of DeFI at the market.

NFT's are a hype this is true, but DeFi is the backbone of most of NFT hype coming out today.
Because most newer NFT projects offer some sort of staking or yield farming ... and this is DeFi

[gwdf1]

I don’t think that defi now is dead. It had its hype a half of a year ago, but I think that this sphere is still alive. Defi-projects are really useful. They help people earn, take loans, entertain, exchange tokens, transfer them between blockchains. There are so many types of defi-projects and I think that some of them are still interesting for people.

[Reatim]

I guess you are joking about INDIA PLANNING BANNING BITCOIN right? this has been on going and On and Off since years ago but does effect the market? i don't think this count in any way.
china banning MINING , not crypto because they have their own cryptocurrency , so banning it will need to ban their own also.
and I'm not sure what does those going to affect DEFI? is there really relevance ? or you are just being paranoid mate.
Defi on the other hand is still kicking but yeah i am not a fan ever since.

[brooksby]

China banned mining not the bitcoin

India is banning bitcoin for a decade now.

USA and UK regulated cryptos.

And DeFi has nothing to do with the bitcoin regulations, DeFi hype ended so you are not seeing much news about it now.

When a hype for around something ends, that doesn't mean the thing itself also ended. There are dozens of platforms driving development of DeFi applications forward. It hasn't stopped and rest assured it won't stop anytime soon. There is too much potential to be exploited there. Crypto adoption is still low, the tech still too complicated, cross chain transactions and communication still to cumbersome. When the frontends of all these applications become more user friendly and the applications themselves more established, we will see a lot of them going mainstream with the next generations to come. DeFi is anything but dead.

[Ceyflix-Rez]

Everything in crypto space is like seasonal this is why it's a smart move to always take advantage of new most talked about crypto projects, I knew DeFI projects will be gone in no time, then many scam projects came too just to take advantage of the market, now we have NFT projects too be smart and always take profits

[efxtrader]

I don't think DeFi will die. Financial instruments will continue to evolve and DeFi will continue to find new forms that make it easier for users. Everyone wants passive income and DeFi makes it easy to get and I think the security will be better

[layoutph]

We do not need China. Crypto currency will go up without them. No one can stop cryptocurrency unless theres a superpower that can stop all internet around the world. It will pause Bitcoin as the life of Bitcoin is in the internet. But mining will resume once theres a internet connection.

Is DeFi dead?

• With China effectively banning crypto.
• India planning a ban.
• Europe and US planning to force users into centralized exchanges through KYC.
• South Korea is already forcing KYC and banning certain altcoins.

This will encapsulate roughly 90% of the money in crypto.

Let's look at what DeFi is supposed to offer:

• Decentralized exchanges (DEXs) - Effectively banned.
• Stablecoins - to be replaced by CBDCs
• Lending platforms - Effectively banned or no different than banks.
• "Wrapped" bitcoins (WBTC) - still around, but limited utility.
• Prediction markets - are there any? Will likely be regulated as a security, in near future.

Is DeFi dead? What good is it anymore? What utility will altcoins like ADA even offer?

It certainly seems like it will be in the US and Europe if residents don't make their voices heard to stop imminent crypto legislation.

[0xkii]

Bunch of defi are still alive right now. It's quite impossible for the defi to be dead. people are using the centralized exchange site as a gateway to put their money to get into the defi ecosystem. The defi itself is still relatively news. it has been 2 years since the first defi already introduced to the market. The defi will still alive and it will not die. The only hype will be gone but it could also come back again anytime.

ya until you'll be able to come to DEX without centralized exchange.

As ex. Jarvis network is doing literally that, they are making synth assets with 125% CR backed by USDC, so they can mint EUR , GBP , CNY etc.. with USDC at 125% CR and get partners with on / off ramp & wallets ... since banks of those on/off ramps know USDC is behind those Synths, they just agree to work with them .. they already got 2 on/off ramp so far.

I'm sure thats how the future looks like, no CEX with their fees, everyone will be able to onboard cryptos with no fees, and it wont be centralized 

[istiak2277]

When bitcoin was pretty new many people say it was a scam. Govt banned crypto by showing many reasons. The way govt was against bitcoin it should be dead by now. But what happens after that you can see. If something is fundamentally strong and people are getting any benefits from it govt won't be able to wipe it out. They can slow the expansions. If Defi is helpful for the community and there is no better alternative then it will survive.

[BrianH]

Most of these are not closely related to DeFi, nonetheless China ban has been on miners and not Bitcoin

China has banned Bitcoin and other cryptos by both banning mining and financial institutions from conducting transactions. Citizens can legally own crypto - that is all. Little good if you can't use it to transact or easily convert to fiat.

[conected]

I think it's NFT era now I rarely heard of DeFi now, it looks like the hype now is on NFT which is not surprising since it is entertaining and you will be able to earn at the same time as well. But I'm not sure if they are dead I see that there's still a lot of DeFI at the market.

- Maybe the hype hasn't been reduced too much on Defi projects but the projects running on this movement are still alive, it represents Defi still can't die, simply faded by the timeline by new projects, NFT is shaping up to be the next card on the market to replace Defi, especially for the action of playing for money, a job that favors the young generation and is at home in this moment. But the scenario of the wave is to turn the old cards upside down after the new ones decrease, old defi projects will have a chance to show up and not be deleted

[mbakruroh]

• Europe and US planning to force users into centralized exchanges through KYC.
• South Korea is already forcing KYC and banning certain altcoins.

Actually, most countries have implemented KYC on centralized exchanges, this is done to maintain the circulation of money in the crypto market, and can find out the owner of the account. If KYC is not enforced, then the state is concerned about money laundering in the crypto market. Apart from this, the exchange developer also needs to maintain the security of the exchange user in case of loss of access. The developer will detect the owner's face based on previous KYC.

Is DeFi dead?

• With China effectively banning crypto.
• India planning a ban.

Regarding Defi which does not require KYC on users, there is a possibility that anti-crypto countries will ban it. However, if the government only limits it based on site blocking, then it is still easy for everyone to use. The higher the government restrictions on certain access, the more thinkers will create applications to bypass these restrictions. The thinkers will continue to think about and develop applications to make it easier for internet users.
So I never worry about it, and crypto will continue to run normally. Nothing can stop crypto.

[cabron]

Regarding Defi which does not require KYC on users, there is a possibility that anti-crypto countries will ban it. However, if the government only limits it based on site blocking, then it is still easy for everyone to use. The higher the government restrictions on certain access, the more thinkers will create applications to bypass these restrictions. The thinkers will continue to think about and develop applications to make it easier for internet users.
So I never worry about it, and crypto will continue to run normally. Nothing can stop crypto.

There is centralized finance (CEFI) though which basically will also ask KYC like the blockfi. There are many who prefer to get into CEFI because it's a legitimate company. But most of the users who are concern about privacy go to DEFI which isn't really dead. Uniswap and pancake still are very alive, I'm sure they are more of Defi platforms that are working for liquidity providers and stakers.

I've read some news about banks actually are also going to be offering the same concept but this will be a CEFI.

[irsada]

Until now, there are still defi that appear on various blockchains that continue to grow every day. there's no sign of a downturn in the market, so where's the data?

[flip4flop]

DeFi is still in the initial stages of even being a thing. The regulations in China only impact mining and India has had laws against Bitcoin for a long time. While regulation in the US and UK are not ideal and forcing KYC does limit some of the initial intentions of Bitcoin I really do not think it will have any impact on DeFi long term.

[litepool.ru]

You may be understanding in a limited way, I see the increase in defi over time is huge. The cryptocurrency market has seen a lot of new trends emerge and when defi brought a trend it changed the whole way of operating and approaching crypto. And most of what we are experiencing is still on defi, so death here is not happening.

[kotajikikox]

seems like Defi season had passed for now  but it doesnt mean this is already dead because i know that there are chances that it will grow back and looking at the defi connected projects they are still doing good even in the dip.

You may be understanding in a limited way, I see the increase in defi over time is huge. The cryptocurrency market has seen a lot of new trends emerge and when defi brought a trend it changed the whole way of operating and approaching crypto. And most of what we are experiencing is still on defi, so death here is not happening.

the crypto market will increase now but will decrease later and there is nothing new here , defi now is in dropping season but that does not necessarily mean permanently .