Decentralized finance is built on chain where all assets are publicly auditable at all times.
EDIT: parent comment talked about decentralized finance, then edited to remove mentions of defi
i.e. an attempt to remove bad actors who deal in decentralized cryptocurrencies from the purity that is defi.
What are some large, successful defi organizations today?
> What are some large, successful defi organizations today?
In my opinion, if there is an organization behind it then it is, by definition, not decentralized. Yes, even the ones that operate fully on-chain.
So defi is only 100% decentralized everything, even if the financial tools are decentralized? That feels like an appeal to purity if ever there were one.
I realize I’m on the fringe a bit with this but I think it’s not because I have an extreme idea of what defi is, it’s that there have been so many grifters in the last 5 or so years that have used the buzzword “defi” to sell their shitty reincarnation of long-outlawed shady centralized financial schemes as something revolutionary that it’s shifted the public perception of the term. I’d even agree with you that it’s an appeal to purity.