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Decentralized Finance (better known as DeFi) is buzzing within the financial industry all around the world. By using it, someone managed to earn 16.000 USD in 13 seconds, and some others took six million dollars after one week or so. Seeing those cases, isn’t difficult to figure out why everybody wants to suddenly make investments on DeFi tokens and Dapps, but, it really works in the same way for everybody?

答案当然不是。然后,您根本没有任何收入 平均加密货币 user? Is all this a scam, Ponzi, or similar? Not everything, for sure. But there’s some of that as well. Let’s check some facts and tricks.

TL; DR for DeFi

You can describe “DeFi” as a whole industry made of decentralized apps and tokens focused on offering a long list of traditional financial tools and products, but without a company, government, or organization behind them. The only authority is the software, the code, and 区块链 since they’re built within smart contracts. So, in theory, you don’t need trust to use them.

该图片由Pete Linforth /

DeFi的主要承诺是为所有人开放金融世界. By using DeFi apps, you won’t need any official requirement (only Internet) to access platforms and tools like loans, savings, trading, insurance, derivatives, exchanges, and so on.

If you’re thinking that 也许Bitcoin, Ethereum, Litecoin, and each “classic” cryptocurrency may count as DeFi, you’re probably not so far from the truth. However, in our current context, when we use the term “DeFi” we’re usually talking about brand new tokens and platforms based on smart contracts, that offers some very specific financial service. And, highly probably, some juicy earnings in the short term. Or that is what everybody wants to believe.

DeFi如何运作?

Aka, how to earn some money with this. That’s depending on the platform you use: according to DeFi Prime, there’re in existence more than 200 projects on this category. And DeFi脉冲 describes, by its part, there’re +7.8 billion dollars locked (invested) in these projects. A quantity not higher than the individual market capitalization for the top 3 cryptocurrencies, but nothing insignificant either.

不过,重要的是:人们如何利用这些东西赚钱?就像他们通常使用加密货币一样:交易新代币(其价格会很快流向月球)的好处,另一方面,创建新的有用(或无用)代币,其价格会很快流向月球,因为每个人都在遭受痛苦FOMO(害怕错过)。

该图片由Nattanan Kanchanaprat / Pixabay上的

There’s another way, though. 几个DeFi平台和令牌可以奖励您,只是为其品牌提供流动性。 这意味着您只需要投入一些投资和/或活动即可参与该平台,以获得多汁的回报。  

Let’s check the example of 复合 (COMP), one of the most popular. This a protocol on Ethereum that lets people earning some returns only for saving and/or lending their cryptocurrencies. Of course, there’re also borrowers paying this variable returns: 3.41% as a prize to hold some DAI (a stablecoin) during a year, for example.

On the other side, we have its governance token, COMP. This one is available to buy through several exchanges, and its price started around 61 USD in June of this year (CoinMarketCap). Now, less than three months later, the price per token is 171 USD. Therefore, the “early birds” in Compound may have earned +180% only by owning these tokens.

It doesn’t sound bad per se, but that’s nothing compared to other succulent (and very risky) promises…

Yield farming and “DeFi food”

Let’s back to Compound one moment: remember, just by holding your cryptocurrencies within the platform, you can earn some actual rewards. But this DeFi isn’t the only one doing that. Some other platforms are offering “to mine liquidity” as well, and with even higher rewards for the participants.

Futureswap, for example, is a decentralized futures exchange whose alpha version offered up 550% annually for the task of liquidity. And that’s exactly what the “农民” are looking for: 新的令人兴奋的DeFi应用程序播种他们对加密货币的投资,并获得高额利息以及他们与令牌之间的套利收益。这些农民甚至投入了大量的抵押资金来借出数量,使他们购买(农场)更多的代币。

该图片由TheDigitalWay / Pixabay上的

The practice doesn’t come without risks, of course. And this is probably when the “DeFi food” enter the scene: the first one was YAM Finance. Yeah, after the edible tuber. This platform was intended to be “an elastic supply cryptocurrency” with attractive rewards for their Liquidity Providers (LP).

The final result wasn’t exactly like that. YAM finance was born on August 12, with calculated (and extraordinary) 年度收益 up to 5.600% (for the staking in Compound). Less than 24 hours later, a fatal bug was found in the smart contract, causing the project’s death with 750.000 USD blocked inside. But this was just the appetizer for the next dishes.

可疑令牌 像PIZZA,HOTDOG和KIMCHI等也开始存在,并在不到一天的时间内试验了大型水泵,随后进行了致命的垃圾倾倒。他们的承诺回报范围从+ 11.000%到LP甚至一百万,但它们就像一颗流星。在短短的几分钟内,所有这些(以及所投入的资金)全部消失了。

发展:另一面

DeFi不可避免的事实(目前)是这样的:如果您可以编码,则可以赚取比其他人更多的钱。您还记得我们的小介绍(Intro)和有关赚取成千上万美元的家伙的事情吗?好吧,他们是开发商。精明的合同开发者,更准确地说。

There’s a thingy inside DeFi called “flash loans”: cryptocurrency loans you take and pay in the same block (transaction). How is this even possible and how could it be useful at all? It’s possible if you know how to write (code) a smart contract to make an automatic transaction with several elements, and it’s useful for arbitrage. This means you could take advantage of differing prices for the same asset in distinct markets.

就像 开发人员做了 8月初,他们从dYdX平台借了2.048.000 USDC,然后在Curve and Pool中用2.028.367 DAI兑换,然后还清了第一笔贷款。在13秒内赚了16.182 USDC,仅将汽油价格投资在Ethereum中(约50美元)。当然,所有这些都是通过智能合约实现的。

另一方面,我们有匿名的Sushiswap创始人,称为NomiChef。首先: Sushiswap是去中心化交易所,还提供流动性挖掘 to anyone who wants to participate with their SUSHI tokens. It’s basically a copy of the exchange Uniswap with larger rewards, and 弥补 到投资者手中的10亿美元被冻结。

该图片由Jumi Kang /

NomiChef刚刚等待了一个星期的结果, 出售前 他所有的寿司 17.971 ETH,目前价值约600万美元。当然,每个SUSHI的价格都下降了。尽管可怜的东西幸免于难。目前。

What’s up with DeFi, then? Can I make money?

We can’t deny it: DeFi是非常有利可图的 market and there’s a gold rush right now after its dapps, providing a lot of liquidity and opportunities. Something similar happened in 2017 with the Initial Coin Offering (ICO) fever, and we all know how that ended. In case you don’t: not so sweet.

ICOs and DeFi have introduced interesting and useful products within everyone’s reach, but they’ve also brought a lot of useless tokens, fraudulent platforms, failed projects, and big losses. Most of those extraordinary ROI percentages are probably just fleeting fame like already happened with some “DeFi food”.

Grave risks are waiting around every corner: smart contract’s bugs, hacks, exit scams, fake tokens, failed projects, extreme pump-and-dump schemes, etc. This is an early-stage technology, so, you may make thousands of dollars in no time… and you can lose them in no time as well. Try it, have fun, maybe even get some or much money, but never be reckless about DeFi investments. Don’t bet anything you can’t afford to lose.

作者

自2016年以来一直是加密世界的文学专业人士。作家,研究员和比特币专家。通过更多的权力下放和咖啡,为更美好的世界而努力。

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