While I understand the concerns, I see DeFi as one of the few truly global investment opportunities available today. It's not necessarily the future of all finance, but it serves as a valuable alternative to traditional financial systems. For those of us who already have access to conventional financial tools (stocks, bonds, traditional banking), DeFi offers unique opportunities for portfolio diversification and higher-risk, higher-reward investments.
We're starting to see interesting projects that combine meme culture with actual utility - like how the classic Stonks meme from 2017 is now being used to make DeFi tracking easier on Solana. This kind of approach could help make DeFi more approachable for newcomers.
However, DeFi's real transformative potential lies in providing financial services to those who are currently underserved by traditional banking. The wave of scams during the crypto summer severely damaged trust in the space - many early DeFi enthusiasts who experienced multiple rug pulls have abandoned the ecosystem entirely. This is frustrating because DeFi as a concept still holds immense potential.
The challenge now is: How do we rebuild trust and attract both previous participants and newcomers?
What are those concerns you do understand if that topic is even a question?
In year 2022 alone there was
$3.8 Billion stolen by exploiting DeFi Protocols. How is that future of money? And how is that equally valid alternative for banks? Imagine this happening with actual banks. They wouldn't exist if even fraction of this was a common thing in them.
When it comes to dealing with our money, don't you think that daily successful hacking would be unacceptable. But it's actually so common, that most of us aren't even aware about the depth of it.
Here's a
topic about DeFis so you can see the full picture.
I am not sure if there's any need to try to build trust when this just keeps happening
every year. That would just be lying, not building trust.