Quote from: BrianH on August 13, 2021, 02:37:18 PM

Is DeFi dead?

With China effectively banning crypto.
India planning a ban.
Europe and US planning to force users into centralized exchanges through KYC.
South Korea is already forcing KYC and banning certain altcoins.

This will encapsulate roughly 90% of the money in crypto.

Let's look at what DeFi is supposed to offer:

Decentralized exchanges (DEXs) - Effectively banned.
Stablecoins - to be replaced by CBDCs
Lending platforms - Effectively banned or no different than banks.
"Wrapped" bitcoins (WBTC) - still around, but limited utility.
Prediction markets - are there any? Will likely be regulated as a security, in near future.

Is DeFi dead? What good is it anymore? What utility will altcoins like ADA even offer?

It certainly seems like it will be in the US and Europe if residents don't make their voices heard to stop imminent crypto legislation.

Defi is not dead. Decentralized Finance continues its technological growth and evolution. Most NFT and Gaming Platforms are Defi. It will continue to thrive and dominate crypto world. Projects like Defi Magic https://bsc.defimagic.io/#/ is absolutely green. It has relevant use-cases and staking incentives which we absolutely love. Not all projects will moon but that doesn't mean Defi is dead in general. There are hidden gems like this one and it is only a matter of time before this gets popular.

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