THELOGICALINDIAN - The movement is analytical of absorption in blockchain
A amusing media movement criticizing what its participants see as added absorption in the DeFi amplitude is accepting traction. Adopting the hashtag #OccupyDeFi, the movement is led by a few key players.
A Battle Cry for Decentralization
#OccupyDeFi, a amusing movement accusatory what it perceives to be the advancing absorption of blockchain projects, is on the rise. Led by Frog Nation, a accumulation of fast-growing DeFi projects that includes Abracadabra.Money, Popsicle Finance, and Wonderland.Money, the movement is arguing that accurate decentralization is key to the approaching of technology.
Daniele Sestagalli, one of the co-founders of Abracadabra.Money, took to Twitter to explain that the movement is focused on “keeping DeFi open, decentralised and censorship-resistant.” In the aforementioned thread, he added that “finance actuality accessible will accomplish the apple a bigger place.”
Another co-founder of Abracadabra, who goes by the pseudonym “Squirrel,” told The Defiant that he anticipation MakerDAO’s action of minting DAI is an archetype of DeFi acceptable added centralized. DAI uses USDC, a centralized stablecoin issued by Circle, as collateral.
The movement has acquired absorption as adventure capitalists accept faced angry criticism from the DeFi association for absorption on concise gains. Last week, the VC armamentarium Divergence Ventures suffered embarrassment back it emerged that one of its analysts had farmed airdrops from Ribbon Finance and awash the tokens for ETH. Divergence Ventures is an broker in Ribbon Finance; the close apologized and alternate the funds afterwards on-chain analysts apparent the activity.
In acknowledgment to a cheep about #OccupyDeFi and the casual arrant attributes of some VC investors in the DeFi space, accepted YouTuber DeFi Dad said that agreement founders should ask VCs about their advance goals and affairs to booty profit.
Frog Nation’s accumulation of projects is aiming to body a absolutely decentralized and cross-chain stablecoin, a cross-chain bazaar maker in which clamminess can breeze amid altered networks, and the conception of a pegless, inflation-resistant currency. As the #OccupyDeFi trend has snowballed, Frog Nation’s projects accept additionally soared. SPELL and TIME, the built-in tokens for Abracadabra.Money and Wonderland.Money, accept appropriately jumped over 400% and 345% this month. Abracadabra.Money is currently breeding more acquirement than MakerDAO admitting accepting a decidedly lower absolute amount locked, and the Magic Internet Money stablecoin has become the sixth-largest stablecoin by bazaar cap.
