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Topic: Is DeFi dead? (Read 339 times)

rjsolutions28

newbie

Activity: 19

Merit: 0

Quote from: BrianH on August 13, 2021, 10:37:18 AM

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.

Defi is not dead. Decentralized Finance continues its technological growth and evolution. Most NFT and Gaming Platforms are Defi. It will continue to thrive and dominate crypto world. Projects like Defi Magic https://bsc.defimagic.io/#/ is absolutely green. It has relevant use-cases and staking incentives which we absolutely love. Not all projects will moon but that doesn't mean Defi is dead in general. There are hidden gems like this one and it is only a matter of time before this gets popular.

Rocky993

copper member

Activity: 560

Merit: 1

As the days go by in the cryptocurrency competition centered on the creation of new projects, the new project will come and the old project will continue to be destroyed. It has been happening forever and will continue to happen. People take Bora Bari with interest towards New and reject the old one. It is a fact that NFT will take the place of any other advanced new generation project in the next NFT era.

Melignya

newbie

Activity: 28

Merit: 1

I can add that there is also a large number of fake DeFi, then it is not clear why this platform is needed at all. By the way here is a link to an article about fake DeFi platforms. https://blockster.com/blockdesk/1368_how-to-spot-a-fake-defi-platform

BillGoldberg

jr. member

Activity: 104

Merit: 1

Absolutely not, all you hear are FUD.

If I were you, I would focus on researching good projects to invest in. See how Cardano and Solana are pumping right now, a lot of people don't believe in these projects when I first entered crypto in 2018. There are more crypto projects out there worth investing in, make sure to DYOR. Now I'm waiting for Polkadot to move into the spotlight as well, a lot of projects are plugging into Polkadot ecosystem that is worth checking for. Just like Rai Finance, they aim to provide the best liquidity across different blockchains.

litepool.ru

full member

Activity: 531

Merit: 100

Quote from: kotajikikox on August 20, 2021, 12:08:43 AM

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.
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 .

Quote from: Xinarae* on August 20, 2021, 12:28:59 AM

Yes defi has not died yet in the beginning, the market was in a good position but now the demand has decreased so everyone thinks that defi has died. Many projects have been added to the market since the introduction of defi is going downhill with the price of bitcoin and ethereum rising.

Yep, I have seen this market for a long time. Perception may still be limited, but what we see does not lie.
DEFI, will still be the area that new programmers approach if they want to enter the Blockchain/crypto field.

RussianEnglishTranslation

jr. member

Activity: 840

Merit: 6

Quote from: BrianH on August 13, 2021, 10:37:18 AM

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.

You can't ban crypto, only fiat on-off ramps. As long as the internet exists, people can trade on DEXs.

Xinarae*

sr. member

Activity: 1414

Merit: 326

Quote from: litepool.ru on August 19, 2021, 10:47:11 PM

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

full member

Activity: 2366

Merit: 207

★Bitvest.io★ Play Plinko or Invest!

Quote from: litepool.ru on August 19, 2021, 10:47:11 PM

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 .

litepool.ru

full member

Activity: 531

Merit: 100

flip4flop

full member

Activity: 378

Merit: 135

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.

irsada

full member

Activity: 994

Merit: 117

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?

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: mbakruroh on August 19, 2021, 08:27:50 PM

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.

mbakruroh

sr. member

Activity: 630

Merit: 250

Quote from: BrianH on August 13, 2021, 10:37:18 AM

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.

Quote from: BrianH on August 13, 2021, 10:37:18 AM

Is DeFi dead?

With China effectively banning crypto.
India planning a ban.

conected

hero member

Activity: 1302

Merit: 503

Quote from: john_nautica on August 14, 2021, 01:40:18 AM

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

BrianH

sr. member

Activity: 280

Merit: 252

Quote from: Chuky92 on August 14, 2021, 02:07:07 AM

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.

istiak2277

member

Activity: 728

Merit: 19

KUWA.ai

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.

0xkii

newbie

Activity: 25

Merit: 0

Quote from: asriloni on August 13, 2021, 09:26:50 PM

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 Cheesy

layoutph

sr. member

Activity: 1386

Merit: 255

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.

Quote from: BrianH on August 13, 2021, 10:37:18 AM

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.

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

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

Ceyflix-Rez

member

Activity: 420

Merit: 13

$CYBERCASH METAVERSE

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