1/ defi is still a relatively new place.
it can be scary and euphoric at the same time.
it blows your mind with amms, hooks, and stableswap curves â new ways to think about risk, returns, and the mechanics of money itself.
2/
but it also overwhelms you.
pt/yt trading, concentrated lp, staking queues, depegs, rate spikes, full and partial liquidations, interest curves, smart debt, smart collateral â and everyone shouting âbest yield!â
3/
and right after that headline, another one lands:
ânew defi protocol hacked.â
one day you finally understand pendle.
you think youâve mastered yield trading.
the next day, the asset related to the yield you were trading depegs because withdrawals got stuck in queue.
4/
you panic, expecting liquidations.
but nothing happens, a relief.
then you realize - the oracle was hard-coded.
and it hits you: even the data source defining âtruthâ on-chain can be⊠fake truth.
5/
you remember how stream financeâs xusd oracle was also hard-coded -leading to huge bad debt, so why this time it is different?
and suddenly, every design choice feels subjective.
you start wondering if youâre just supposed to trust the team blindly.
6/
then a protocol says, âweâre permissionless, trustless, like uniswap. not our fault you lost money.â
and you realize - this space really is wild.
even the smartest people get it wrong.
7/
so the question hits:
is defi even worth it?
should you really park your usdc in all these farms and markets?
honestly, no - not yet.
8/
defi isnât ready to be trusted like a bank.
itâs meant to replace banks, but first it needs to fix incentives, risk education, and how risk itself is managed.
9/
iâm building a unified lend/borrow/vault aggregator & infra that helps users reason about risk and reward - to make defi safer, clearer, and more honest over time. but i tell you, it's not a trivial problem to solve.
10/
until then, stay safe out there.
use products by teams who are paranoid about user safety and funds.
ask questions, a thousand of them - until youâre sure your risk manager truly understands the risk theyâre taking.
11/
because right now, incentives are broken.
everyoneâs chasing aggressive growth, trading off risk for scale.
and in defi, thatâs where most of the danger begins.
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