I'm about to try Defi platform now but i have no idea about it. All I really just see is that its going to give me more than 10% of APY. This is good enough for me but I just want to be aware of the risk if anything could happen. Any given situation, is this not going to be good?
Actually, I lost more than 100$ in one defi platform called Poly yeld yesterday. It happened because of a hack. Despite several audits and my own research, this project was not safe enough. Nevertheless they promise the compensation, but I am not sure that we will get something. But I initially knew that it was a risk that is why I invested money that I wasn't afraid of losing.