DeFi Is Crypto’s Wall Street, Without a Safety Net

“Commerce. Earn. Win.” The happy bunny flipping a pancake and the double- or triple-digit rates of interest on provide are nearer to the advertising type of Las Vegas than Wall Avenue. Don’t be fooled: PancakeSwap and its opponents in what’s now generally known as DeFi, or decentralized finance, are bringing on line casino capitalism to the crypto plenty.

The promised rewards are enormous, and the advertising makes it simple. “Excessive APR, low threat” is the pitch for PancakeSwap’s “Syrup Swimming pools,” the place anybody can lend cash. The annual proportion charges, the APRs, are candy: On Monday a crypto token known as CHESS was promising greater than 300% a yr, paid in CHESS. | DeFi Is Crypto’s Wall Avenue, With no Security Internet


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