The Creator of Ethereum, Vitalik Buterin said do not “profitable farming” (farming yield) in the decentralized Finance (DeFi). “A long time ago I transferred some coins on Uniswap and brought them out, earning a few percent Commission ― that, in General, and all” ― wrote Buterin in a tweet from August 14.
In another tweet he said that users do not have to participate in the “the most recent DeFi-project” to be in the Ethereum ecosystem. “If you do not understand what is happening, then it is best not to participate or to participate only with very small amounts” ― recommended Buterin, adding that there are many other types of decentralized applications on the Ethereum that are worth paying attention to.
The collapse of the DeFi project YAM, may have been one of the factors why Buterin decided to write about it now.
Even after the collapse of the YAM many members of the community praised the project as “an interesting experiment”. The developer of Ethereum Peter Silage criticized this approach, emphasizing the understatement of the participants of the negative consequences of the project.
And you wonder why people say that cryptocurrency is a Scam. “It lost only about $760 thousand.”