They are not 2, there is only 1 and they keep changing the name while doing the same exact thing: ICO, IEO, STO, DeFi, NFT,...
They create a useless token that has absolutely no connection to anything including the business and people who create it and sell it to people to raise funds. That's all.
Kinda agree with you. ICO, IEO, STO, DeFi are rebranded names for different trends in different years. Instinct is the same. Built for scammers to steal fiat and bitcoin from greed, naive investors.
DeFi, is it different than Staking/ masternode trend in 2018? Many people lost money from Staking/ masternodes and now they forgot pass losses to join DeFi.
Well, each time I ask someone who makes this statement to show me an actual application that is working in real world they either can't or show me the "token swap" projects where you can trade one ICO token for another ICO token! So I don't see any potential there.
Swap on DeFi is to help those operators collect as much money from fees as possible. Who cares the value of tokens on their DeFi? Even they don't care about it.