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