Is DeFi hype the same as ICO hype in 2017?

[wawan96]

yeah, project Defi and ico in 2017 is almost the same today many Defi project that generates a lot of profit, but all can be temporary, not being able to walk in a long time is probably just hype will last 1-2 years all Defi program will have flaws and its advantage if the bitcoin prices down will affect the price of coins Defi I would not be surprised if the project Defi will be short enough hype.

[ryap12]

DeFi projects are significantly different from almost the first ICO projects that were in 2017. I still like DeFi projects because they perform the direct functions of banks and take away their profits from them. This has never happened before. Banks have always been in a privileged state, being protected by the state. They are now facing a real challenge from DeFi.

Agreed. Same compliment and positive outlook on defi, what I dont like is the similarities on ICO of 2017 that some projects are taking advantage of the scenario and hype doing a scam exit. Process now is much faster compared to the ICO which dont have uniswap approach. I think we can ve more secure if there is a platform auditing the defi projects being out everyday.

ICO or DeFi it is still not 100% safe to invest in projects right now. There are for sure a lot of scammers planning to bait investors once again. I saw a meme where ICO is just pretending to be DeFi. When someone plans to put his money on a DeFi cryptocurrency, better make sure that he/she verifies all necessary information. Better choose BTC or ETH to make sure you don't lose big time.

[Istiak]

In 2017 was the peak growth of crypto, it attracted many new users in the industry, many later left it after the deepest correction, but some have learned to earn and successfully entrenched in the blockchain industry since then, eg your bounty manager bubbalex

Most users invested blindly in everything, there were a lot of identical and/or useless projects, everyone just heard that you can earn a lot and easy and tried to repeat this success. According to statistics released later, 44% of ICOs of 2017 were a scam.

Now the same thing is happening with DeFi, in my opinion. The success of several DeFi projects gave rise to a whole new milestone for the Blockchain projects. Most users who are disappointed with the long correction of the market finally believe in the bull market again and want to repel their losses and/or increase profits. In 2017, you could add the word Blockchain to the name of your project and collect a lot of money, now the same can be done by adding the word DeFi.

I don't mean that all projects are bad and they will fall, but I want to warn people. Despite the fact that in 2017 there were many good ICO projects that have been successfully developed so far, and now there are many good DeFi projects that will be developed in the future, most projects fail. Do not invest blindly in everything that is popular, understand the potential risks, think yourself and never follow others, it's your money and time.

I believe in blockchain technology, decentralization and decentralized applications and finance, but I'm extremely cautious about any hype, because when a hype runs out, some projects will close instantly and it's impossible to guess in advance whether you chose the right one. What do you think about DeFi? DApps are already proven themselves, will DeFi prove themselves too? Share your thoughts below 👇

Its good to see your post my favourite Bounty Manager. What I think about your question is that many project taking advantages of the situation and raising money. It looks like another 2017 will happens and we have already seen a demonstration through YAM. But there are very good project like DIA which you have managed. I also wants to mention some other project like Oikos, Synthetic, Compound,CRV and some other.

[TERMINO]

In my opinion DeFi is the enhancement of financial business structure to reach the people everywhere in this world. The platform goes viral due to futuristic approach that capture and will captivate the mind of technology users.

[@chison]

In terms of volume of money put into the system, the 2017 ICO had more impact. But for structure and positive future this recent Defi frenzy has more positivity

[bubbalex]

Its good to see your post my favourite Bounty Manager. What I think about your question is that many project taking advantages of the situation and raising money. It looks like another 2017 will happens and we have already seen a demonstration through YAM. But there are very good project like DIA which you have managed. I also wants to mention some other project like Oikos, Synthetic, Compound,CRV and some other.

Sure, we have good DeFi project, but there is still high risks. For example, yEarn Finance token YFI already worth 19 130$, higher than bitcoin. The coin was issued on July 18, 2020 and started with $35. A month later, on August 18, its price had already reached $12,800, overtaking bitcoin. Today, the token has reached a price peak in the area above $19,000. In a month and a half, YFI rose by 50,000%. A coin that is only a month old is already so incredibly expensive, I could certainly be wrong, but this is the last coin I would invest in, too loud to call it a bubble, but it can't be anything else. Such a young project simply physically can't create such a real value in such a short period of time, this price is conditioned by faith in further growth, not by project development.