Topic: WHAT EXACTLY IS A DEFI BUSINESS ? (Read 113 times)

Defi, short for Decentralized Finance, is a rapidly growing sector within the cryptocurrency and blockchain space. It represents a new approach to traditional financial services, aiming to eliminate intermediaries and provide more accessible, transparent, and permissionless financial solutions.

The 11 Defi business commandments you've shared provide valuable insights for those looking to succeed in this space. They emphasize the importance of recognizing your skills and knowledge, setting appropriate pricing, and focusing on delivering value to clients. Building a strong reputation with testimonials, partnering with other agencies, and maintaining a client-centric approach are key strategies for success.

Defi businesses leverage blockchain technology to create various financial products and services, including lending, borrowing, decentralized exchanges, yield farming, and staking. These businesses operate on blockchain platforms, such as Ethereum, and typically use smart contracts to automate and secure financial transactions. They aim to provide users with greater control over their assets, higher returns on investments, and reduced reliance on traditional financial institutions.

DeFi or Cryptos are about money but unlike the traditional ones, they have a limited amount of supply, so their value can rise high but it's not always consistent and there are also scams around. This makes them speculative. We only need to make our research properly before doing an action so that we can minimize the errors as much as possible and be more successful on this venture. Fluctuations are normal.

Yes, it can cause a disruption but we can also use it to gain an upper hand. I believe many people already knows what DeFi is but because of what they saw before, many can also think it's only just a money game.

I am about to say that OP could have probably gotten this with the help of ChatGPT or any AI content generator for that matter but honestly speaking am sure AI could have written a much more coherent post. Anyway, some of the advice can be good, if applied though one can be confused on the things OP is referring to. Surely, this does not concern DeFi at all and I am speculating this is more of freelancing and self-development.

So what is this?

I see some slight inconsistencies in the advice the OP mentioned. I also saw the analysis from @o48o and feel even more confused about how the OP's message was conveyed.

- [1, 4] in short is one thing and similarly [2, 5] is also one.

I'm wondering where the OP got these. It's both funny and confusing and doesn't sound like any specific advice, but even if it's advice, the OP can share the results from applying these things.

Back then projects where serious in pursuit pf their road maps and achieving a real-life relevance in the market,  back then there were records of multiple successful projects and at that, we have records of good altcoins to lay hold on and make some good investments,  some even go as a long term investment,  but the various crisis that has faced the market has made it almost possible to be able to point to any of those successful projects back then.

Be that as it may,  we can't deny the recent flooding of the market by fake projects that have drained out investors and most of the projects in that category are where you see a project just popping up and making several promises without any workable user case for the investors to rely on as a liquidity for the project,  this is why we have seen a lot of the pumped and dumped coins that we have around in the market today.

I think a defi developer or manager is what he meant for this. I thought how defi business works or the platform that offer defi products are what Im gonna read. Isnt this an advice for anyone who wanted to do a defi related remote job or finding a business partner in the crypto industry?

Back in those days when most projects are trusted and stands on their words even there are most of them that comes to launch without running an ICO, IDO and IEO yet they are successfully launched in exchange with good prices then but what they mostly do is that they just involved themselves with an airdrops after which they share to applicants and they sells out with a good prices. Then we can say of believing in their words but not now whereby people has turned the cryptocurrency space to a scamming industry were anyone would just come to scam people with fake promises and after their target are being met the close and fold down, same thing are applicable with some cryptocurrency exchange. The most important thing is that when a new project is launching we should be very mindful in times of putting our resources as an earlier investor because most at times those who often comes as an earlier investors are the people who always falls victims of being scammed.

At first glance these seem like some generic advices for a company as most of them have nothing to do with crypto space. Lets unpack some of these:

I mean what does this even mean? In what scenario this applies to DeFi? Sounds like you want to work in the company that respects you for your skills and pays you monthly salary?
But if you made that company, aren't you responsible to cover that?

This is just not true. Uniswap needs customers as much customers needs uniswap. Users fuel it, while uniswap provides the infrastructure for the actions users want to do.

I have no idea what you would be delivering that would mean. If the tech is more expensive to use, then i get charging more,
but if you want to charge more just by your profit, i think you are in the wrong business.

I don't have a clue what this means in this context. If i am reading it correctly it's more like a statement of getting profit from a skill?

What does this even mean?

Every time i see testemonials in the web page from random people, i am thinking it's 100% scam

Sell profits? Are we lost in translation here? People sell their startups all the time. I mean would you fight against big players like google or get aquired by them and invest that to your next project?

You already mentioned testimonials,

Doesn't really work on this space. Bold marketing, and down to earth meme-like marketing that doesn't take itself seriously works better then toning the attitude down imho.

Why not partner only that serves an actual purpose? Not sure what you mean by leverage here.

thats right, honestly I think advice above has little to nothing to do with defi market itself.
the thing with defi market is that, as its name implies, it supposed to be a tool for financial things, like generating profit and so on, through certain platform.
what I see with most defi is that, they instead become like money game, where its all about speculation.
nothing about generating money out of interests, the fluctuation could also disrupt the well being of the investment, I still wonder if many people actually knows what defi is, i'm myself rather confused, since many has been interchanging the word with just money game, but personally i will consider something like loan, deposits that utilises blockchain as defi.

I agree with you on that,  off course the whole cryptocurrency market is based on speculations but in doing so,  we have to measure the risk level,  and try to compare them among coins to be able to ascertain which of the coins is less risky and worth the risk at all,  even though we are in an uncertain market,  and we have to rely on luck to be able to choose the right coin that will lead to that anticipated profits in the long run or even short term base.

On the second note,  the ability to right predict the possible outcome of a market is uncertain sometimes,  but still we have a few of those projects that say what they mean and mean what they say,  but projects at that level are rare and can not easily be discovered with just our ordinary inquiry but you must have to hard long time of follow up on them to be able to choose rightly.

But if you must know don't you think the entire cryptocurrency market are basically on a speculative aspect, as everyone seems not to be certain about the outcome of the results rather being optimistic that something may likely happen, this could be growth ( bull run) or decrease (bear run) and based on popularly said about the two seasons.

So it's very easy for someone to say something but that doesn't mean it must happened and even if it happens that doesn't show that such person is an expert because we know these are two things possible which we must experience and anyone who speaks according to the direction of the market often claims to be a professional which to me is not rather I can call such person a speculator.

This sounds more of an advice than it is online to what Defi stands for as captured in the title,  by then I was expecting to see the basic background function of the Defi market and looking to see if truly has any real-life user case that will make them more relevant in the future.

Most of those who buy into the idea have long been abandoned in some cases because I know few of the Defi projects that have not acted or played out as they promised inventors and this makes the Defi market only look like a mere speculative market and nothing more that at some point in time.

Here is a 11 Defi Business commandments you should keep [that'll make you money in your sleep ]
1] Your skills are precious enough to be a monthly charge
2] You don't need the clients, They need you more
3] charge highly, Deliver better
4] Any skill can be monetized - so far it has generated profit for you.
5) if you are looking for your first client, you already found one, me and you
6) Testimonials help you sell better and faster - get yourself result first
7) Don't ever sell your services -anybody can sell services, but not everybody can sell profits v
Always share your Testimonials
9) Brag humbly - it brings more client and increases your authority in that niche
10) Partner with other agencies to increase leverage
11) Read Number 5 again