New Zealand markets closed
  • NZX 50

    11,065.71
    -134.33 (-1.20%)
     
  • NZD/USD

    0.5598
    -0.0133 (-2.32%)
     
  • NZD/EUR

    0.5704
    -0.0128 (-2.20%)
     
  • ALL ORDS

    6,678.70
    -81.90 (-1.21%)
     
  • ASX 200

    6,474.20
    -80.80 (-1.23%)
     
  • OIL

    79.74
    -1.49 (-1.83%)
     
  • GOLD

    1,668.30
    -0.30 (-0.02%)
     
  • NASDAQ

    10,971.22
    -193.56 (-1.73%)
     
  • FTSE

    6,893.81
    +12.22 (+0.18%)
     
  • Dow Jones

    28,725.51
    -500.10 (-1.71%)
     
  • DAX

    12,114.36
    +138.81 (+1.16%)
     
  • Hang Seng

    17,222.83
    +56.96 (+0.33%)
     
  • NIKKEI 225

    25,937.21
    -484.84 (-1.83%)
     
  • NZD/JPY

    81.0020
    -1.7450 (-2.11%)
     

Are High APRs in Crypto Markets a Scam? Unifi Protocol CEO Writes a Scathing Report on the State of DeFi

·2-min read

LAS VEGAS, August 10, 2022--(BUSINESS WIRE)--Juliun Brabon, CEO of Unifi Protocol, has published a critical article on the current state of the crypto industry, with the title "APR is Dead."

[What follows are excerpts from that article.]

Not only does no one want APR, APY or Yield, those terms only serve to ostracize the greater blockchain community. Public sentiment surrounding the blockchain sector's inability to use the term APR has all but ruined market appetite for it.

Year to date we have seen the complete collapse of user confidence in the DeFi space. Users are utterly disinterested in a dead fad that resulted in one of the greatest losses by a single industry. The ultimate dissolution of several unsustainable multi-billion dollar companies was the inevitable result of the mass hysteria around these terms.

Looking further, the DeFi market as a whole is decimated. What remains only further demonstrates the complete public disinterest in APR. According to Defi Llama, less than 9% of the entire crypto market is participating in DeFi today. Considering the loose definition for "participation," as well as the duplication of tokens and derivatives, it is likely far less.

What remains of the DeFi market is sequestered in "non-DeFi" products. This refers to an overwhelming majority of funds tied up in derivatives such as stablecoins, BTC, and ETH at absolutely paltry yields.

The crypto world does not want APR.

They simply don't want to lose money.

The market needs to evolve, and one does not have to look far to see what’s coming. Sustainable, low risk, low yield crypto strategies.

We at Unifi Protocol are working to create opportunities to get ahead of the market. You can and should be your own bank, but why not consider opening a savings account too? Diversify a portion of your crypto portfolio into a sustainable asset that doesn’t subject you to hidden risk. One you can feel comfortable holding long-term with minimal management.

About Unifi Protocol DAO

Unifi Protocol has been building the foundation for a truly sustainable blockchain economy since 2018. We continue to bring groundbreaking blockchain applications to market with a vision for a decentralized future.

Website | Twitter | YouTube | Governance | Blog

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005223/en/

Contacts

Media Contact:
Steve Green - Operations
steve@unifiprotocol.com