The decentralized finance market has just begun to form its community, but it already holds great promise for other areas. Decentralized finance (DeFi) may become a new way of earning money for thousands of gamers, influencers and streamers in the near future.
Hugh Karp, the founder of the Nexus Mutual platform, said this in an interview with non-profit research institute dGen.Karp believes people will begin to benefit from DeFi primarily through games.
The tokens earned will encourage people to explore the possibilities of making money on the blockchain and perhaps even “force [these users] to exchange their [tokens] for digital US dollars,” Karp noted.
“Eventually, kids making real money through [DeFi] games will become the new trend,” Karp said.
DGen has a similar view of the potential outlook for DeFi.The institute notes that DeFi represents a huge technological leap that could benefit the average member of society in the coming years.
However, dGen believes that significant scale-up of the new area may require direct involvement of governments and corporations, since existing solutions are still "damp".
It also became known earlier that over a dozen fraudulent tokens appeared on Uniswap, posing as real DeFi protocols.These include pseudo-tokens from 1inch.exchange, dYdX, bZx, and Tornado.cash.
Smart contracts are still a weak link in DeFi. DeFi-protocol Balancer at the end of June was subjected to a hacker attack, due to which the project lost about $ 500,000.
According to the 1inch exchange, the fraudster was able to gain access to the management of the Balancer smart contract, resulting in the loss of funds.
“In its current state, DeFi applications can be susceptible to hacks, but the frequency and number of losses are decreasing,” emphasizes dGen.
DGen believes that those companies and governments that start using the technology of the DeFi market earlier than others will have a significant advantage over their competitors.
As an example of such an advantage, dGen cites the rush of the Chinese authorities, which are actively testing their own "cryptocurrency" in the hope of reducing the negative effect on the Chinese economy from potential sanctions from the West.
What do you think? Could DeFi Apps Become a New Source of Passive Income? Share your thoughts in the comments!