Libertarian, Capitalist, Software guy
- Apr 1, 2010
- Reaction score
The sales pitch is filled with testimonials, not with any legal or other guarantee of principal or explanation of HOW, and how not to be swindled by the holders of your money.
It's nothing like Madoff's scheme. DeFi is completely transparent. You can see exactly what is done and how it works. You can even see everything about the protocol... how many loans it has made, how much of the loans are paid back so far, yields being made, etc.
I'm not saying it's risk free, there are risks. But it's transparent and not a scam.
The video also explains HOW. How can you say it doesn't when it spends most its time doing exactly that? It's not difficult to understand. Your loan collateral is invested and returns are used to pay back the loan over time.