> In that way, "DeFi" feels the same about the finance industry.
How? DeFi protocols are behaving predictably and not pausing user withdrawals or hiding billion dollar black holes in their balances.
How? DeFi protocols are behaving predictably and not pausing user withdrawals or hiding billion dollar black holes in their balances.
https://twitter.com/web3isgreat/status/1538546864542429184
https://twitter.com/web3isgreat/status/1539113641336872961
https://twitter.com/web3isgreat/status/1587956557274353667
Remember, programs are proofs of themselves, but that doesn't mean they provably do what you thought they did.
Risk profile in Uniswap and established DeFi protocol is more transparent than FTX. You cannot verify and audit a CEX, you have to trust they are doing things right, or trust the third parties who audit them. If you are skeptical of Binance or Tether audits then you understand the want for open source DeFi.