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58473599 No.58473599 [Reply] [Original]

this was the only saving grace of crypto
what went wrong?

>> No.58473680

nothing
it works 24/7
no intermediaries
most protocols making the switch into LSD based products

we're winning
mostly because we're the only ones competing while fiat just dies

>> No.58474180

>>58473599
What does it do? Nothing really. The most practical it has to offer are over collaterized loans, and banks are better for such contracts than "smart" contracts, on top of being under collaterized. And "defi" is filled with shit and due to the nature of it, is going to fill up with more shit to the point where it is even useless for shit - the final cloggening

>> No.58475005

>>58474180
banks only loan if you can convince them to, it's much easier to get a defi loan and anyone ine the world can get it

same with synthetix you just get reliable access to derivatives and leverage without having to go through any hoops