DeFi-mania is nothing new. It was preceded by IEO-mania which was preceded by ICO-mania which was preceded by altcoin-mania. The sad reality of this space is that there always seems to be new money coming in for what they perceive to be easy money. The reality, of course, is that the money is anything but easy.
To some degree I agree with you that the decentralized finance bubble contains scams, but there is the possibility off creating a worldwide decentralized market maker, because people are going always going to choose the easy way to make a quick buck, they will start to do arbitrage in between the pools. Which in total will level out the entire system in the long run and create a balance in price and liquidity. Once we’ve finished playing this game we will have a market maker with actual value, the network itself will be valuable. So there is in the long run a case to be made that decentralized finance products like these scams have a function in this ecosystem to bring something else into existence which normally would never be built, it must be a collective effort.
To some degree I agree with you that the decentralized finance bubble contains scams, but there is the possibility off creating a worldwide decentralized market maker, because people are going always going to choose the easy way to make a quick buck, they will start to do arbitrage in between the pools. Which in total will level out the entire system in the long run and create a balance in price and liquidity. Once we’ve finished playing this game we will have a market maker with actual value, the network itself will be valuable. So there is in the long run a case to be made that decentralized finance products like these scams have a function in this ecosystem to bring something else into existence which normally would never be built, it must be a collective effort.