i think yes there's a lot of scam projects in defi but still - it's more transparent and interesting concept than ico and ieo, and if we are talking about dex projects with volumes, defi token inside will have a good value in future
ICO, IEO and DEFI are having interesting concept consider these are giving the automation for the decentralized finance.
How can you say defi is very transparent compared with IEO or ICO? i have ever seen ICO and IEO published the financial report while there's no defi that was doing this thing in the past.
DEFI less transparent compared with IEO and ICO.