Is DeFi dead? | Bitcointalksearch.org

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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.

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

Xinarae*

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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.

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.

kotajikikox

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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.

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.

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

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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.

flip4flop

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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

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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

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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

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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.

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.

conected

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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

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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

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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

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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

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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.

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.

efxtrader

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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

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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

brooksby

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Quote from: jrrsparkles on August 13, 2021, 10:41:38 AM

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.

Reatim

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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.

gwdf1

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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.

btcltcdigger

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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.

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

Chuky92

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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.

john_nautica

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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.

RussianEnglishTranslation

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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.

FairUser

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You give us a wide range of information and FUD in the market,
maybe I think I'll see you soon with topics like 'deFi revival after death..' stuff like that.
Perhaps you are well-prepared for the big changes in the near future.

asriloni

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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.

tabas

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Not yet.
https://coinmarketcap.com/view/defi/
Look at that list and see how much money that's still on the Defi's. That's why I don't think that defi's are dead.

AmoreJaz

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Quote from: Slow death on August 13, 2021, 06:42:49 PM

don't worry that in the cryptocurrency market whenever you create something dies to make way for something new, we had ICOs that died, now DEFI that will follow the same path as ICO, and we have NFT that after some time also holds the same path as the ICOs. always have this cycle

defi is not yet dead but it is now facing potential reduction of user-base. people are realising that passive income via staking or farming is not possible if the platform itself is not rock solid with less number of clients. not all defis can survive in this market, some are already exiting the game owed to hacking or other internal problems.
but with NFT, i guess, this one will survive long. it is just in the early phase and it is attracting a lot of audience already coming from popular personalities, athletes, artists. they are discovering that creating their own NFT collection is a new digital way to connect with their fans and this will be a lucrative industry.

just few personalities who are already into NFT (and there's a lot more) -

Manny Pacquiao
Tony Hawk
Paris Hilton
Beeple

Slow death

legendary

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don't worry that in the cryptocurrency market whenever you create something dies to make way for something new, we had ICOs that died, now DEFI that will follow the same path as ICO, and we have NFT that after some time also holds the same path as the ICOs. always have this cycle

retnoanjani

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Quote from: cryptoknows on August 13, 2021, 12:37:59 PM

DeFi may have come to a standstill within the Ethereum ecosystem for a while. Many projects have already settled in the minds of many cryptoenthusiasts and this is a lot of competition. Check out new DeFi projects on many cross-chain platforms like Solana, Near Protocol, Matic. Everything is just beginning inside their ecosystems, and perhaps there you can find an interesting DeFi project for you.

while there are other more interesting trends right now for example NFT and some meme coin moments. so defi seems dim. actually the defi market is still there and growing pretty well as you mentioned, but it's not as booming as it was last year, where all projects almost embed the word "defi" in their introduction. trend is always changing, developers are trying to adapt to this to strengthen market support.

ectbit

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Dead? haha

Everyday many people earn a lot of money from DeFi projects. If you are careful not to get rugpulled or to step on scam then you can earn a small or higher piece.

I don't know if NFT is better or just a hype, this is a big discussion

Refrumatrix

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DeFI reign is officially over, now we have NFT and they are more than just the hypes surrounding DeFI projects, I meant NFT projects are way better in terms of utilities, most DeFI projects don't have any real use case than decentralized finance aka Yield farming but NFT has what it takes

btcltcdigger

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It's anything BUT dead. Even with these bans, it's utility grows, as people seek new ways to invest their money.
Defi is certainly one of them.

capcaypro

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DeFi hype has started to be pushed aside and is no longer as interesting and enthusiastic as it used to be but that doesn't mean defi is dead because as far as I know there are still some that are still running and if I'm not mistaken Mark Cuban once said there is a crypto-based DeFi and this is proof that DeFi isn't dead yet.
but the hype is now being replaced by NFT which is experiencing a positive trend in the last few months I think.

Dragonfund

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With DeFi or not, KYC will remain on top centralized exchanges, this is a measure to mitigate fraud and scammers. This has help so far and I don't think kyc affects DeFi that much, even the so called DeFi platform have a limitation to services they offer, once you try to cross the limit, they will ask you to go for kyc.
About ban, I'm even happy about bitcoin mining ban. We don't have to be play by China time bitcoin increase in value because they always come with this anti ban shit to destroy bitcoin but now that they don't have anything to ban, bitcoin can now enjoy without any hindrance.

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Quote from: SquirrelJulietGarden on August 13, 2021, 12:04:06 PM

Quote from: jrrsparkles on August 13, 2021, 10:41:38 AM

China banned mining not the bitcoin

China bans Bitcoin mining in some areas of China mainland and does not ban it nationwide.

Quote

India is banning bitcoin for a decade now.

India does not ban Bitcoin. Bitcoin Gains by Country: Who Benefited the Most from the 2020 Boom?. India is in top big gains by country. There are many crypto exchanges from India, Warzix for example.

Quote

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

Governments will do more regulations on Bitcoin, crypto, stable coins and DeFi but it won't be apocalypse for DeFi projects. If they are legit companies, and obey regulations, they will be allowed to operate.

You didn't get the sarcasm buddy, sorry if I just kept too simple to understand. Grin

China ban news related to crypto currency existing here for very long time and especially everytime when the price gets bullish so its not letting the bitcoin down but contrarily helping bitcoin.

About India ban by their central banks from 2017 but recently such ban also lifted by the court judgement and after that the central bank advised them to ban by making new policy but government of India is not going to look cryptos for now since they have lot on their priority list.

cryptoknows

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DeFi may have come to a standstill within the Ethereum ecosystem for a while. Many projects have already settled in the minds of many cryptoenthusiasts and this is a lot of competition. Check out new DeFi projects on many cross-chain platforms like Solana, Near Protocol, Matic. Everything is just beginning inside their ecosystems, and perhaps there you can find an interesting DeFi project for you.

Yogee

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DeFi cointinues to evolve while regulatros are still trying to catch up to the trend. It will probably reach a plateau at some point and the whole DeFi space will be subject to a level of regulation. I won't be surprised if that happens since I know the "De" is not really decentralized and these projects are using the word loosely.

SquirrelJulietGarden

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Quote from: jrrsparkles on August 13, 2021, 10:41:38 AM

China banned mining not the bitcoin

China bans Bitcoin mining in some areas of China mainland and does not ban it nationwide.

Quote

India is banning bitcoin for a decade now.

India does not ban Bitcoin. Bitcoin Gains by Country: Who Benefited the Most from the 2020 Boom?. India is in top big gains by country. There are many crypto exchanges from India, Warzix for example.

Quote

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

Governments will do more regulations on Bitcoin, crypto, stable coins and DeFi but it won't be apocalypse for DeFi projects. If they are legit companies, and obey regulations, they will be allowed to operate.

adekogbe

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Defi isn't dead and cant die, the problems that you raised in your message here are general cryptocurrency problems and most of them have been existing for a long time but cryptocurrency is still thriving.
It is normal for governments to try and control the use of cryptocurrencies the best way they can but decentralized finance is an innovation that is doing great especially with the increased use of NFTs.

ameliana

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Although some Defi tokens have experienced a high decline, it can be said that the Defi market has dimmed for now, but with the current hot market price with the rise of some existing coins, of course, the Defi market will again increase its trading volume like YFI which some time ago has dropped to 50% is now starting to increase and with ETH 2.0 it is possible that Defi can become hype again.

viananda2525

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all of fud only effective for short time only but slowly its negative effect will gone by it self. we ever heard crytocurrency project will die in near time , and even several super power country use serious action to realized it.but the market still alive now due no one could controll crypto market. personally my concern now changes to NFT gaming project , its a wonderfull breakthrough from dev team.

TheMimic1

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DeFI hype is no more since 2020 4th quarter, it was a very good experience as many DeFI projects brings good profits for me but the ban on crypto isn't going to work out, china ban mining in the country and India never have a good plan for crypto anyways as they always ban but believe me all this won't have any negative impact, the only thing that have negative impact on crypto was covid19 and that's not going to happen again hopefully

jrrsparkles

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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.

BrianH

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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.

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