The leaders of the DeFi circle betrayed their ideals in this craze.
Written by: crypto_angel, anonymous author Compiled by: Leo Young
In order not to be regarded as self-ethical flaunt, I decided to publish this article anonymously. Anyone who publishes opinions similar to this article will be rejected by the DeFi community .
DeFi insiders and have reached some kind of understanding between them to protect the perpetrators. Insiders will not challenge misconduct, as they are generous in return, will get inside information. If an outsider notices this corruption, the insider will stand up to defend the misconduct and say: “Those who feel bad are laymen.”
This rationalization argument is like saying: within the “industry work is not difficult to understand how all this is not a reasonable contribution to the insiders did feel cheated insiders, the responsibility in their own, these people are voluntary. Participate. This is a permissionless system.”
This is the nonsense that is driving the money-making effect of DeFi this year. Do something for the circle and get close to the inner circle. What if you find anything suspicious? Either silence enhances the relationship with the inner circle, or causes waves and gets left out.
Communities that reward misbehavior and punish good people will soon find that their community members openly hostilely discuss virtues. Newcomers will follow suit, and old members will ignore them and acquiesce in evil .
Surprisingly, technical analyst circles everywhere, no one cares about the long-term development.
The history of American community banks has shown that the result of idealistic projects without moral boundaries. Every indifferent and greedy bank that the cryptocurrency community wants to replace was also full of ideals as described by “V God”. It is not a bank president or board member who has lost his ideals that makes the bank corrupt.
Corruption is profitable because most people indulge a little bit of corrosion.
Good people are excluded from the circle of influence. @DegenSpartan This kind of scum becomes important. The dealer made a pull plate to hit the plate, and then pretended that nothing happened.
From “income farming” to $FEW
We again look DeFi chronicle of corruption: Everything is developing too fast, a few years these events will be forgotten.
” Revenue farming ” originated from the game nature experiment of the open organization. YFI and Yam illustrate the ability of a group of developers to create a sensation in a short time. The belief in the limitless community has turned into explosive price growth.
There are some problems with these organizations. There will be funding and organizational design information asymmetry gene.
The temptation of corruption is great. Insiders can rush into the “farm” minutes or hours before the “farm” is publicly announced. Create a pool of funds to amplify imagine “farming” needs more motivated to make “open institutions” become temporary secret small groups.
Followed by a pool of money to enlarge this trend harm. As long as the whales decided to continue farming, these pools are amazing annual yield (APY) will be able to make “leek” earn a little money. As soon as the whale is withdrawn, the price will drop by a thousand miles, and the “leeks” have to pay high gas fees to transfer these worthless “farming” tokens to the wallet. Makers here foolproof. The block games they play are large and easy to withdraw, and there is no risk at all. For other players, they will eventually be “cut leek.”
DeFi ring leader of betrayal over in the boom. Focusing on development in a bear market creates a value system, not a token. Don’t repeat the old path of “coin craze” again! Do not let DeFi Ethernet Square becomes a small circle of developers!
Reminder: Eric Conner was no longer a socialist long before “Profit Farming”
But then DeFi took a big turn. Hundreds of times and thousands of times of income reappear. Each project is repositioned as DeFi. There are stories about participating in “income farming” or meme tokens or airdrops and turning into a millionaire without any effort.
The price of Ethereum lags behind. The loyal defenders of the “Fat Agreement” were cast aside. Creating real money is no longer a diligent investor, but social of people. To win in this token game, you have to be friends with the right people. Powerful insiders in the DeFi circle rely on Crypto Twitter to gain influence and support each other. Enviable bystanders try their best to search for the clues of the next popular breed, whether they are the “jerks” in this game.
To make a statement: The big winners of this DeFi boom are Arthur Cheong, Vance Spencer, Michael Anderson, Jason Choi, etc. As early as mid-2018, you can see Arthur contributing to communities such as Synthetix on Discord. These are all success stories driven by the fundamentals of this bull market. This article condemning the “Revenue farming” does not involve the achievement of these builders. @DegenSpartan also shared their glory, but what he advocates is another matter.
$FEW will only appear in the current harmful environment. Twitter social day up to the people while the much vaunted profit thousands of dollars, while fans requested not to attend. Of course, the reason why they can make a profit is entirely because fans rush into the pool of funds for the same opportunity to get rich.
The socialites told themselves that the victims were all asking themselves to comfort their conscience. This is an ugly game. Everyone knows that the winner is the first in, first out. The “leeks” who were cut in this game also know the worst result. “Leek” knows that there is a probability of loss, but does not know that the probability of making money is almost impossible. To be precise, this is a scam.
You know, the social experts who promote these scams are the same people who trumpeted the creation of reciprocal value and the token-free economy a few months ago.
No one can laugh
$FEW This farce can be viewed in two ways. The first is to believe in the stories told by the participants. Leader Sam Ratnakar claimed that the whole thing is an experiment slapstick organization building.
Ratnakar also shouted, “In a few hours, the whole industry will pay attention to us.” No one knows the true purpose of this experiment, everyone thought it was really creating value.
excuse me. Other co-founders use jokes as excuses, but it doesn’t look like a joke at all, nor does the open organization do so. Here elite vacuo. The only thing that can exempt them from SEC investigation is whether they are so active that they really create value. I think the most intimate explanation for this farce is that I really think they have this talent. This shows the number of arrogant socialites.
Their goal is not to gather fifty wise people. But gather fifty influential people. Other group members started to create interest in the project on Twitter. Cooper Turley posted about this experiment and deleted it later. Alex Masmej has also promoted the popularity of the project to make himself money.
Just a few minutes after the token was issued, hundreds of people rushed into the Telegram group to airdrop.
There is no doubt that everyone got $FEW. Only a fool would believe that the founder did not take the airdrop. Needless to say, Ratnakar’s most ugly hint is that “in a few hours, the whole industry will pay attention to us.”
I don’t want to support every explanation that says this is a trick. You can judge for yourself by looking at the chat history here. The most telling thing is that those who were invited to join the group later condemned them. Anthony Bertolino said, “disgusting”, and many fans Twitter social of people “out of thin air but also design plan project initiated by the marketing push prices higher.”
Source: https://twitter.com/DegenAgent/status/1308622024856670208
Some group members said privately, founder actually not interested in creating something of value. Those puppets ignored repeated warnings and told them not to participate in the promotion of infamous tokens and domain names.
The Ethereum community’s response to this incident was also despicable. Far more people express regret than critics. $FEW shows that DeFi professionals completely lack the ability to judge themselves. These people have been talking about the “income farming” scam for months. Now they openly excuse their colleagues who participated in the scam. Silence of $ FEW derived from greed, arrogance and fear of reprisals. Maintaining your position in the circle requires avoiding such discussions, or avoiding warnings or new facts. I think this disability means that the DeFi world is brewing a bigger scam.
Antisocial personality
@DegenSpartan is fun and smart. It cannot be denied that he is free and easy and charming and keen on market trends. The vision of Synthetix turned Spartan into a quasi-socialist.
Unfortunately, Spartan admit antisocial personality, especially tired of the transaction losers.
Everyone knows what Spartan stands for. At the same time, the existence of Spartan is just a reflection of the community. Criticize Spartan for holding a code of ethics for a scumbag community. The community that recognizes Spartan as the leader has no spine and hopes to follow him and get lost.
Encryption currency community is full of charismatic and ruthless scum of antisocial people. There are very few people who follow good faith, and even if they do, there are strong reasons to avoid entanglement with immoral behavior. There is really nothing to maintain virtue.
We should be alert to the current DeFi spirit, and self-ethics does not mean that scams will be exposed. By blaming the ” whistleblower ” for wasting everyone’s time, you become a social expert.
I am pointing out the general phenomenon. Some people also set an example for the industry rectification of names. Except for Spartan, everyone has both advantages and disadvantages. He is a complete scum. This is his essence.
The more we align with Spartan’s worldview, the more rotten we will become. Cartoon characters beyond advocating antisocial point something else is not difficult.
But Spartan has revealed our true colors. If we gain financial freedom as a result, we will happily post and scold each other for stupid.
We are directed to make money in this business, we value open to question.
