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What fundamentally constitutes a “DeFi” service?

By NasdaqNico | Monthly Spotlight | 17 Jun 2023


I can’t be the only one wondering it - right? 

With so many platforms, wallets, you name it - coming out as “DeFi”. How are we better able to judge and assess whether or not they’re being transparent aside from the obvious.

They’ll go unnamed - but a particular exchange I’ve learned recently is based out of mainland China. Prior they touted themselves as HQ’d in Singapore. And it made me wonder - okay call me a conspiracy theorist but something smells fishy about China… the CCP of all governing bodies…. Would be like “yeah guys go for it no worries” and allow such a service to develop into what’s becoming almost a trillion dollar Operating Service (the one I’m referring to). 

This is meant as an open thread; I’m genuinely curious how we can (as a community) vet these programs and know with confidence that our funds are secured as well as our anonymity. 

in light of DASH being kicked to the curb, the powers that be are tightening their grip and it’s time for us to come together and figure out who’s fronting on behalf of the centralized powers and who leans more towards the “true democracy” side of service providers…

 

call me an idiot, educate me, I’m genuinely curious what all of you think on this matter:

 

-xoxo 

nico

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NasdaqNico
NasdaqNico

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