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4min chapter
FTX 'Horror Stories' in the Bahamas
What Goes Up
Decentralized Exchanges and Yield Farming Platforms
The whole decentralized exchange model was considered a bit of an after thought in cryptocurrency, an interesting experiment for the future. I believe that the first platform that did this was Compound Finance where you would deposit Bitcoin, ETH, stablecoin, other mature assets, and receive comp token. And because we were in the middle of a bull market, I don't want to beat up on comp token. They seem like, I mean, I haven't had any indication they're not honest operators,. But all these yield farming platforms, you deposit Bitcoin and they start paying you in their token is now trading for whatever reason. So yes, your yields are high in this token that has evaluation that's unsustainable
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