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YFI, not everyone seems optimistic about the DeFi project…

In recent months the decentralized finance (DeFi) seems to have targeted the technology behind Ethereum. And since all this has happened, ETH has grown exponentially, both in terms of value and in terms of active users.

Well, although this segment of the Ethereum has undoubtedly helped support the project, it seems that its founder Vitalik Buterin, is moving away from it, at least for the moment.

Vitalik Buterin, head of Ethereum, commented a few hours ago that he wants to stay away from yield.finance and what goes on around that project until the waters have calmed down. He specifically referred to a comment from an investor who said there would be a large amount of capital going into YFI but, evidently, Buterin appears to be acting more cautiously.

Moreover, the founder of Ethereum is certainly not the only skeptic of the decentralized financial ecosystem, at least in its current phase.

Tony Sheng, a former analyst at Multicoin Capital, recently said he was "quite scared" by the vast number of DeFi protocols and tokens, in particular referring to the so-called grocery coins. Another skeptic is “Weeb Mcgee”, an Ethereum developer whose real name is John Lim. Weeb became a prominent member of the Ethereum community after creating a set of tools that allow users to strengthen their DeFi interactions.

For Weeb the yield farming is an unsustainable zero-sum game. The big winners here are protocols that benefit from the acquisition of permanent value through inflated prices / sudden movements of funds, Mcgee later said.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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