Vitalik Buterin urged not to succumb to the hype around DeFi

Vitalik Buterin urged not to succumb to the hype around DeFi

“Dad” of “smart contracts” Vitalik Buterin said that he did not practice “yield farming”, and urged not to succumb to the excitement around the decentralized finance (DeFi) industry. The term means increased rewards for liquidity providers using high leverage. The more liquidity a provider provides, the higher its reward.

Vitalik wrote on Twitter that he did not use this practice. He once transferred several coins to Uniswap and withdrew them, earning only a few percent on commissions. With this, Buterin’s experience with similar incentive systems was over. Buterin urged users not to succumb to the “fever” of decentralized finance. Even for those who understand how DeFi works, Buterin advised investing only small amounts. He added that there are other types of Ethereum-based decentralized applications that are worthy of user attention.


Am sure the hike in gas fees is solely because of these defi, they are a high price some of us have to pay to complete a simple transfer of nfts or funds, it is ridiculous. Anyway, lets wait till those who practice yield farming succumb to theft then we might breathe again

There may be hypes on DeFi, but it is here to stay. Always move with the Market.