I am not usually in to bashing new tech especially when it is based off of some of the crypto that is trusted and that has real world saving applications. I understand some of what the Defi market offers but I just don't understand how most of the yeild farming/leveraging is sustainable, specficially yearn.finance. I wouldnt touch it when it was at a few hundred then a couple thousand.It seems almost nefarious to me, like someone created an exploit in a video game and now everyone is clamoring to buy it to make their character god mod. But what is the real value of defi tokens like YFI? What justifies it being just south of $50000 per token. It is mind blowing and interesting to watch if not perplexing.As we have seen this spawned a number of really bad players that literally failed in a day leaving victims of financial ruin in their wake, but these ponzi esque schemes prey on the greedy. That is their cash cow and target. Its hard for me to trust the defi yield farming tokens, no FOMO here. I would rather sit by the sidelines and watch. I just hope good people don't get completely burned if and when the "tulip/ponzi" bubble pops....then again they said similar stuff about cryptos.What do you guys think?
Submitted September 13, 2020 at 04:38AM
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