Ivan on Tech Academy provides latest insights and reports about the blockchain industry.
To the outsider, decentralized finance (DeFi) sounds weird enough by itself. Now try and imagine a new sector of DeFi called, “Weird DeFi.” “Weird” is probably the best description for it because it’s hard to tell exactly what’s going on under the hood with these new protocols.
Before we get into the specifics though, let’s travel back in time. It was only a short while ago when DeFi was motoring along like a tugboat making steady gains against the waves or market resistance. Then on June 15th, Compound came along with their governance token, COMP, and the speed boat of Yield Farming was unleashed.
Yield farming gave DeFi users even more incentives to participate in a platform offering governance tokens. This afforded users voting rights, along with the normal profit potential expected on other DeFi platforms. In fact, there is a pre-COMP / post-COMP dividing line in DeFi if you think about it.