DeFi giants promote differences with CeFi
TheDefiant • February 08, 2023
Decentralized finance (DeFi) giants have come together on Twitter to promote decentralization, partnerships, and composability. Several major players in the DeFi space have created the hashtag "DeFiDecentralized" to showcase their commitment to the principles of decentralization and to highlight the importance of this principle in the DeFi space.
The "DeFiDecentralized" campaign is aimed at promoting the benefits of decentralization and highlighting the importance of using the blockchain to build your applications in contrast with all the blow ups of last year with murky centralized players such as FTX, Celsius, BlockFi, Voyager and the like.
“In the wake of recent crashes in centralized finance, the case for DeFi has never been stronger,” the teams said in a press release. “The smart contracts and open-source code that governs decentralized protocols have proven to outperform imperfect humans who are incentivized to convince their users to trust them based on arbitrary reasoning.”. The participating DeFi giants hope to bring attention to the fact that decentralization is not just a buzzword but an essential principle that must be upheld to ensure the long-term success of the DeFi industry.
The hashtag has already been widely adopted and is being used to promote a range of DeFi projects, including decentralized exchanges (DEXs), lending and borrowing platforms, and yield farming platforms. Furthermore, applications have restrengthened their resolve to build with each other and leverage the composability of each other's protocols to work together and increase the usefulness of their applications.