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You can withdraw at any point, until suddenly you can't anymore. That is the very core of investing: being rewarded for taking the risk of not receiving your mo
by WJW 5y ago
You can withdraw at any point, until suddenly you can't anymore. That is the very core of investing: being rewarded for taking the risk of not receiving your money back at all. In particular, the mechanisms most DeFi tools use are vulnerable to the contract being hacked and/or the devs doing a rug-pull. This is clearly a risk that most investors deem quite likely, because if it was a very low risk then the interest rate on DeFi products would not need to be quite that high.
- whitepaint 5y ago$27,000,000,000 is deposited in AAVE's protocol alone. It's been working pretty well for quite a while now.
- capableweb 5y ago> the mechanisms most DeFi tools use are vulnerable to the contract being hacked and/or the devs doing a rug-pull Wouldn't this mean that most DeFi would be hacked or rug-pulled by now? Seems the opposite is true, as only a small percentage of DeFi sees hacks and/or rug-pulls. Could you make the same argument you generally make towards banks as well? Seems like you could, and in that case you're just making an argument against investing in general, not against cryptocurrencies.
- burnished 5y agoNo, more like an argument that you'll see the exact same problems that got regulated with the banking industry. Like. You could make this argument.. in a history book. This has already happened.