A lot of DeFi is a sequel to the 17’ ICO bubble, not because these projects are scammy. The criminals haven’t arrived yet, but because of 3 primary drivers in the crypto market:
- Post-ICO projects w/ deep crypto treasuries that manages to survive the bear markets w/real products
- Post-ICO projects w/ deep crypto treasuries that manages to survive the bear markets w/real products
2. Eth killers with 9-figure foundations, VCs & ecosystem funds that have yet to launch & need to demonstrate PMF to maintain their token’s price. What better way than to attract/invest in some DeFi infrastructure
3. DeFi actually uses infrastructure products the ICOs funded
3. DeFi actually uses infrastructure products the ICOs funded
That’s a signal that money is coming in to this bubble in the middle of a low yield environment where everyone is already trading by memes for random returns
Smack in the middle governments realize they actually are in dire need of digital cash as a fiscal & monetary tool. CBDV makes sense to them just as China launches their very centralized Orwellian version of a digital currency to power their Covid expansion
If you believe that some form of a decentralized private-public network will eventually launch in the west, Gwen it’s clear the hard core financial version will launch a a similar flavor to DeFi protocols & instruments
