Vitalik Admits He Hasn't Done Much DeFi Farming

Vitalik Admits He Hasn't Done Much DeFi Farming

By Abhi K | News | 17 Aug 2020


Ethereum co-founder Vitalik Buterin has not joined in on the DeFi craze, according to a tweet posted on August 14. The Ethereum network is the hub of all major DeFi activity, but Buterin has only earned a few percent in fees.

  • Buterin has not participated in any yield farming protocol
  • Has only earned a few percent in fees from putting a “few coins into Uniswap a long time ago”
  • In July 2020, Buterin criticized the DeFi space as being “flashy stuff”, and the public focus on high returns through yield farming
  • He also said that yield farming was unsustainable and people could be underestimating smart contract risk
  • Recent yield farming protocols include YFI, APY. Finance and Ampleforth’s Geyser
  • Buterin’s question of risk was highlighted in the recent YAM bug that saw over $500,000 made inaccessible

Abhi K
Abhi K

Technophile, cryptocurrency enthusiast and journalist.


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