DeFi is still more like a failed experiment, 80% of DeFi projects are unreliable, they have weak security and they are more hack friendly, they claim to be decentralized but instead they aren't showing any decentralized motives, the only DeFi projects I trust are not up to five and I choose those DeFi projects because they are more than just DeFi like many new DeFi projects so far, I don't care much about where DeFi is headed, I'm just going to keep picking the good eggs out from the bad eggs, hopeful in future DeFi projects will actually become fully decentralized and more secured
an experiment? I think defi has been around 2 or 3 years ago, it's just that because of the pandemic the economy changed and the defi system was implemented and got a pretty good response in the crypto community, even though most of them did not really take advantage of these defi, and only pumped and dump like most other shit projects.
Yeah, Maker DAI is not new, and that is the Model being used, with there now being multiple places to do this. This is not the first time something like this has existed either, there were early ones around early Vircurex traded currencies.
It was just all called FinTech then and was not distinguished from Blockchain Technologies. Now the word DeFi is really all that is new.
And with 2 and 3 and 4 and more Maker DAI type DeFi DAO Governance models, which is what it is, there is now like an easy to identify DeFi field, and because the Finance in DeFi needs places to Buy and Sell, DEXs have become the Icon of this, and all the DEXs are saying "LIQUIDITY" which really is needed, but only sounds good unless the Currency is grounded.
Crypto to USD is not True Liquidity, that is not the meaning of Liquidity in a holistic sense of what Liquity is.
Real Liquidity would be DeFi eBay and Esty accepting DAI or COMP.