Cameron Winklevoss, one of the famous Winklevoss twins, believes that the decentralized finance (DeFI) market revolution is not the same as the 2017 Initial Coin Offerings (ICO) craze. Nowadays, several projects have been launched on this subject and help users access financial solutions without relying on a central authority.
DeFi Is Not The Same As The 2017 ICO Frenzy
DeFi has been launching numerous project solutions in recent months, providing users with access to innovative financial solutions without relying on a central third party.
Uniswap, which owns UNI crypto currency, one of the most popular projects of recent times; It excited the whole market because of an airdrop they made for users using the platform and the services they currently offer.
Users can exchange their cryptocurrencies with other ERC-20 assets within a few seconds on this platform. Developers don’t even need to ask for permission to register their tokens in Uniswap, and anyone can start buying them. This has taken the price of different Ethereum-based digital assets to new heights.
The DeFi market looks much more mature than the ICO frenzy of 2017 and early 2018, although there are some projects that do not meet the expectations of users, such as SUSHI. project. Such a situation was definitely a difficult thing to see in the ICO era, when everyone wanted to invest in the “next Bitcoin”.
Cameron Winklevoss, co-founder of the crypto currency exchange Gemini, stated on Twitter that DeFi revolution is real.
“DeFi is not the same as the 2017 ICO craze,” Winklevoss said. “It is not the same as then and now. DeFi is already running live. Billions of dollars on the job provide surplus returns. This is not hypothetical software, this is real. ” he added.
It is worth noting that not everyone supports the DeFi market. Some people believe this is similar to the ICO craze and that it could have negative effects on the cryptocurrency industry.
According to data provided by DeFi Pulse, there are about $ 10 billion worth of locked-in DeFi projects. This means that almost the entire XRP cryptocurrency market is currently locked in DeFi projects and platforms that serve users.