With projects like Hotdog coin and the likes doing the rounds, the whole DeFi craze is beginning to look and smell a lot like the ICO bubble a few years ago. Although, i feel that their own acceptance of how ridiculous and scammy it all is is ironically adding to their appeal.
Why do you think this is happening?
I believe the answer is obvious. DeFi is a continuation of the development of the crypto industry. We were all waiting for a new direction and now DeFi is just that. The fact that a lot of crypto projects have been released for DeFi lately and, as you noted with ridiculous names, suggests that DeFi really managed to attract a lot of attention from the crypto community and, accordingly, money. Of course, all this is done mainly for the sake of profit and there is no getting away from it. In any case, this makes it possible to develop the crypto industry, even if not as quickly as you want.