In the past two weeks, i was researching new coins/tokens that are worth investing in. My main target was new DeFi coins/tokens, but not just like scrap and glue defi tag to old shit, normal projects. Criteria was pretty tight.
1. DeFi
2. Not shit, scrapped and glued defi tag
3. Something new, fresh
With these three, my research begun, and i was shocked with results. At first i want to talk about "DeFi", by definition it is "Decentralized Finance", which is fair, i mean, crypto was about decentralization of things. After two weeks of research i found one project that can fit my criteria mentioned above.
>what? only one? how? are you a retard? you trying to shill me useless token?
Almost everysingle "DeFi" project out there is not decentralized at all, most of them, has team behind the project, and if we want to talk about decentralization, dedicated team behind decentralized project, it is centralization for me, like, how you can call your project a DeFi if it is not decentralized at all, team behind it, team funds waiting for dumping, and you call it defi? In conclusion, right now coins/tokens marked as DeFi are hot product on the market, but only decentralized ones will survive, because you can't glue a tag to something and call "job done".
I already invest my own money in this one project i found, and i'm not touching everything else, maybe if something new comes up and it is decentralized, but for now, no thank you. If my english bother you, sorry, i'm from Poland.
>ok user, shill me your defi
No
Let's talk about this
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thats a man standing in the desert holding up 3 fingers.
that's a lot of text to tell us next to nothing, user.
I am assuming you found Digibyte.
ok I made a few thousand bucks but ok
it's AKRO, isnt it?
thats based
i like the idea of looking for tru decentralization so what project did u find?
Can someone explain to me this new "DeFi" thing. Is this just a buzzword. This word seemingly has popped out of thin air in the last month.
Cryptocurrencies are all theoretically defi. As OP mentions if you are able to understand how they really work or can access the holders charts on etherscan, you'll see that nothing is decentralized. *except for hex cough* sorry had to shill.
But seriously is there some new wave of technology known as defi or is it just a new buzz word people are using?
Basically defi applies to altcoins like Orbicular or in general uniswap coins. In centralized exchanges market makers (the people that provide liquidity so that other people can buy and sell with little delay) are centralized, for example in Binance this "pool" of coins is owned and feed by Binance (the company). In decentralized exchanges this "pool" of coins is not owned by the exchange, but by anyone that is willing to provide their own coins to this pool, thaths why we say its decentralized. The incentive for people to put their money into these pools is a fee they receive (for each transaction made you pay a 0.30% that goes to the people that hold their coins on the pool so that traders can buy and sell without delay, with less price slippage etc).
That's the rough idea. There are also new finance related decentralized things, like loaning and some other things that are appearing right now