Jan 24
DeCoding DeFi
Wrapping my head around Wrapped Memo
In my daily quest to stave off penury I've jumped into multiple get rich quick DeFi DApps.
DAO’s, Nodes, Yields, you name it I’ve tokenized it, locked it, staked it, wrapped it, bridged it, rebased it, dripped it, rolled it, claimed it and spun it back out again. Twice on Sundays.
All with barely a scintilla of knowledge of WTF I'm doing. The learning curve from toying with a Helium miner a year ago to bridging Wrapped Memo from ETH to AVAX to FTM today has been intense and steep.
It doesn’t help that these DeFi DApps and sites are often not user-friendly. The graphics can be cartoonish, childish, and amateur.
They are produced by developers rushing DApps out of a molten DeFi furnace while the coding is still half baked.
But the impossible API’s they promise are as irresistible as freshly baked cookies.
Most of these sites are not yet ready for main street. But if some of these promised rewards prove to be life changing and not ponzis main street might be knocking sooner rather than later. Maybe not tomorrow with the current crypto bloodbath kicking DAO’s, DApps and DeFi to the curb but soon.
Until then I‘m still beta testing new DApp$ every dao.
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