Hello guys, I’ve recently had a conversation with my friend

Question

Hello guys, I’ve recently had a conversation with my friend

about the utility of DFI. In essence, I told him that the utility of DFI comes from the DEX and the upcoming DMC. However, my friend said that the DEX has major issues such as the unpegging of the DUSD for months as well as the stabilisation fee which causes people to lose more than 30% of their investments once they enter. As for DMC, he says it is still hypothetical and it’s utility is yet to be seen.
Can someone help me with this? Am I explaining utility wrongly? Or is there more to it that I’ve missed out?

#blockchain #cryptocurrency #defichain #english

0

06.08.2023

3 ответов

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Josiah Автор вопроса

Zachary Chan
Your friend is not wrong. DMC is unproven because ...

I see, thank you for your explanation. So, in this case, it is more of the core community behind it which constantly tries to develop and improve?

0

06.08.2023

Zachary Chan

Josiah
I see, thank you for your explanation. So, in this...

For me it is, which is why I stuck around and bullish about the long term of the project. Of course, like everything else, it’s not the only thing I’m invested in, nor do I feel that one should throw their entire lot into defichain. But as far as outlook, I am sticking it out.

0

06.08.2023

Zachary Chan · Accepted Answer

Your friend is not wrong. DMC is unproven because it’s not launched. But utility is just what it is. It enables evm compatibility, it enables cross-chain operability, it opens up the Defichain ecosystem , it will provide benefits of Bitcoin and Ethereum under one blockchain. Whether people adopt it is of course another matter altogether. But that’s the same with any crypto or blockchain. What’s the utility of Bitcoin? What’s the utility of Polygon? Of Ethereum? Even today, to the mass general public, crypto is just a token with a value they buy/sell. What actually mass market real world use has crypto been adopted in that we can firmly say outside of crypto itself? In that sense, Defichain is like every other player in the market, it can only keep building, And DMC is that commitment to continued development and growing the ecosystem. It has active community, active developers, active communications, blogs, podcasts, livestreams. So tbh, I do not know if DMC will succeed, but I do know DefiChain isn’t one of those one-hit altcoins that die down after an initial hype and fade away. https://t.me/defiblockchain/296144

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Hello guys, I’ve recently had a conversation with my friend

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