Acne Buterin urged not to succumb to the hype around the sphere of decentralized Finance

The latest trend in the field of decentralized Finance passed by the Creator of Ethereum Vitalik Buterin. He recently admitted that he is not engaged in profitable farming or the so-called yield farming. The only thing he’s ever done — bought a few coins on a decentralized platform Uniswap. Acne could earn “a few percent” for the commissions, but then withdrew their money.


Profitable farming (yield farming) is the process of making profit from forms of interaction with the DeFi-protocols. "Farmers" earn tokens native protocols for the provision of credit, loans and liquidity assistance to decentralized exchanges. In other words, they decide what to do with tokens and how to earn some money. In the niche of decentralized Finance has no limitations: the creative "farmer", the better.

Acne Buterin about DeFi

Against the background of many fans Ethereum — indeed, the development of decentralized Finance is precisely on the basis of this network — Buterin behaves “old-fashioned”. He frankly admitted that he was not interested in such “experiments” with the DeFi-protocols. Here is his remark, which he shared on Twitter. It leads Cointelegraph.

Honestly, I wasn’t involved in profitable farming. I long ago invested some coins in Uniswap and brought them out, earning a few percent on commissions, but that is all.

Another note from Vitalik — he’s not “Chad”, not “a cool guy or whatever they are called in the modern meme”. Buterin believes that the real “Chad” can be considered the one who made a lot of friends in my life.

I know that makes me not quite the “Chad” or some other guy on the cool kids ‘ lingo, but I think the real Chad is the friends you find in your way.

It is possible that the collapse of the DeFi-Protocol YAM made Vitalik tweet about his attitude to the new trend right now. We will remind, couple of days ago the capitalization of the YAM project Finance collapsed to virtually zero, when it became known that the project discovered a critical vulnerability. In the end, he lasted about two days. And while investors have lost their money, they were satisfied.

The reason — the experimental project. Still it ran without audit, and a new community to quickly provide a market capitalization of tens of millions of dollars. In other words, the participants of the YAM-pharming admire the behavior of the community, which is able to act cohesively and organized.

Buterin also posted on Twitter a warning for investors — they should not participate in the “each new hot project, if they do not fully understand how it works and what its essence”. If so much want to join the “de-revolution” Vitalik suggests to allocate for this case only a small part of their capital.

Reminder: you do NOT have to participate in the “latest hot DeFi-initiatives” to support the life of the Ethereum network. Actually, if you *really* not understand what is happening in the niche of decentralized Finance, it’s best not to participate or to participate only with very small amounts. Besides there are many other types of decentralized applications ETH, study them.

Recall that by mid-August the amount of funds blocked in DeFi-projects exceeded $ 5 billion. This is a major growth industry, because on the first day of summer, the index was at the level of a billion dollars.

defi протокол блокчейн

The total amount of funds in DeFi-protocols according to the platform DeFi Pulse


We believe that this statement he made rather a precaution. Now the popularity Dafa really breaking records, so it attracts beginners, who do not quite understand what was going on. They are likely to suffer most from the situation that happened with the YAM.

In addition, the activity in the niche of decentralized Finance loads Ethereum, which affects the commissions the network. However, acne is hardly worried. As he recently hinted on his Twitter feed, the high cost of transaction is proof of the usefulness of the network. And if the users continue to use the Ethereum, then the value of the blockchain-the project is much higher than the growing fee. And it’s hard to argue.

Join our cryptodatato be the first to learn about the most promising projects in DeFi-sphere. Also check in Yandex Zen for more articles.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. X IS COMING!

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Acne Buterin urged not to succumb to the hype around the sphere of decentralized Finance

The latest trend in the field of decentralized Finance passed by the Creator of Ethereum Vitalik Buterin. He recently admitted that he is not engaged in profitable farming or the so-called yield farming. The only thing he’s ever done — bought a few coins on a decentralized platform Uniswap. Acne could earn “a few percent” for the commissions, but then withdrew their money.


Profitable farming (yield farming) is the process of making profit from forms of interaction with the DeFi-protocols. "Farmers" earn tokens native protocols for the provision of credit, loans and liquidity assistance to decentralized exchanges. In other words, they decide what to do with tokens and how to earn some money. In the niche of decentralized Finance has no limitations: the creative "farmer", the better.

Acne Buterin about DeFi

Against the background of many fans Ethereum — indeed, the development of decentralized Finance is precisely on the basis of this network — Buterin behaves “old-fashioned”. He frankly admitted that he was not interested in such “experiments” with the DeFi-protocols. Here is his remark, which he shared on Twitter. It leads Cointelegraph.

Honestly, I wasn’t involved in profitable farming. I long ago invested some coins in Uniswap and brought them out, earning a few percent on commissions, but that is all.

Another note from Vitalik — he’s not “Chad”, not “a cool guy or whatever they are called in the modern meme”. Buterin believes that the real “Chad” can be considered the one who made a lot of friends in my life.

I know that makes me not quite the “Chad” or some other guy on the cool kids ‘ lingo, but I think the real Chad is the friends you find in your way.

It is possible that the collapse of the DeFi-Protocol YAM made Vitalik tweet about his attitude to the new trend right now. We will remind, couple of days ago the capitalization of the YAM project Finance collapsed to virtually zero, when it became known that the project discovered a critical vulnerability. In the end, he lasted about two days. And while investors have lost their money, they were satisfied.

The reason — the experimental project. Still it ran without audit, and a new community to quickly provide a market capitalization of tens of millions of dollars. In other words, the participants of the YAM-pharming admire the behavior of the community, which is able to act cohesively and organized.

Buterin also posted on Twitter a warning for investors — they should not participate in the “each new hot project, if they do not fully understand how it works and what its essence”. If so much want to join the “de-revolution” Vitalik suggests to allocate for this case only a small part of their capital.

Reminder: you do NOT have to participate in the “latest hot DeFi-initiatives” to support the life of the Ethereum network. Actually, if you *really* not understand what is happening in the niche of decentralized Finance, it’s best not to participate or to participate only with very small amounts. Besides there are many other types of decentralized applications ETH, study them.

Recall that by mid-August the amount of funds blocked in DeFi-projects exceeded $ 5 billion. This is a major growth industry, because on the first day of summer, the index was at the level of a billion dollars.

defi протокол блокчейн

The total amount of funds in DeFi-protocols according to the platform DeFi Pulse


We believe that this statement he made rather a precaution. Now the popularity Dafa really breaking records, so it attracts beginners, who do not quite understand what was going on. They are likely to suffer most from the situation that happened with the YAM.

In addition, the activity in the niche of decentralized Finance loads Ethereum, which affects the commissions the network. However, acne is hardly worried. As he recently hinted on his Twitter feed, the high cost of transaction is proof of the usefulness of the network. And if the users continue to use the Ethereum, then the value of the blockchain-the project is much higher than the growing fee. And it’s hard to argue.

Join our cryptodatato be the first to learn about the most promising projects in DeFi-sphere. Also check in Yandex Zen for more articles.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. X IS COMING!

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