4 Years On What A Big Difference Time Makes
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Like any new industry time is needed to mature and to clear out the cowboys for the genuine projects to take over.
I have been amazed at how many decent projects with proper use cases compared to many of the crypto coins/alts we saw around in 2017/18. How many of those projects are still up and running and what have they achieved is what we should be asking ourselves today. Everything just looks more legitimate and not a dodgy scam.
I am not talking about DeFi tokens as many I have no clue what use cases they have besides yield farming. CUB is obviously different as we all know that it's use case right now will be used to move in and out of UNIswap into BSC and vice versa with a percentage of tokens burnt from the fees obtained. There is ridiculous money at the moment pouring into the DeFi eco system and it seems it is only going to get bigger. I just don't see what and if there is a reason for that coin besides farming and I guess not. One has to just look at the names and it tells you this industry is also in it's infant stages of development.
The one thing I always look for in a project is a proper use case and where and how it will fit in. Most of the coins on Binance for example are projects with use cases besides a few which one has to question why people even invest in them like dodge and Shiba and personally think they do a disservice to the crypto industry in general.
The big difference for myself looking at the various coins is you can categorize them now with exchange tokens like BNB that only launched in July 2017 and then it was unclear where it would fit in. Today that is not the case and is now used in their BSC DeFi platform for wrapping with other tokens. Not only that it is used on the Binance card allowing the exchange investors to spend their crypto link any bank card would allow you to do.
AVA is another that stands out as it is a token used by the travel industry and only found out the other day they do quarterly burns. AVA has a maximum supply of 61 million and will continue burning until they get down to the 40 million mark which will create scarcity. Definitely a different way of looking at things and considering how big the travel industry is 40 million tokens is nothing.
Over the last 3 months I have spent time researching so many different projects and many seem to be evolving into every day life in some way or other. These projects will become more and more obvious as the extra layers of development have been added. Blockchains and crypto currency has changed over the last 3 years as it is becoming more and more acceptable in peoples views. The institutions buying into the whole crypto thing has somehow given the entire industry a boost of confidence making it more legitimate. Over time I do believe it will be the norm for everyone to be holding various crypto coins for investment or daily use.
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I think the thing with DeFi is you need to look past the here and now and think about what the landscape will look like in the future when crypto is more widely accepted. Being able to provide liquidity and loans and stuff like that will make much more sense than it does right now. That is my thinking anyway. I could be totally wrong. AVA is pretty cool. I have been stacking what I can lately. I think it will come in handy when I am ready to travel again!
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I agree it should become clearer with DeFi as it is more widely accepted. I get the loan part but just some of the names is senseless and stupid as how can they be taken seriously.
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Oh yes, I agree with that totally! The names are getting pretty out there! They ought to just start using names like random DeFi project 1 and random defi project 2 etc. :)
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