FUD FAQ | A Weekly Community Thread | Week 17

Date: 2021-07-26

FUD FAQ | A Weekly Community Thread | Week 17

Most Common Repeat Questions

• Is it really possible to bring millions of new people into DeFi through fashion?

Yes, and, often before a massive market shift it’s not entirely clear how that could be possible. Because most people can’t be expected to believe in what they haven’t seen before, until they are given consistent rewards from it and then wish that they had bought into it earlier. It’s entirely understandable because of how much there is at risk. To be the first at anything good, unfortunately requires withstanding an often prolonged period where not only does no one see what you see but where you need to have enough grit and determination to see it through no matter how hostile and dismissive people might be. Bringing fashion into DeFi, like bringing DeFi into existence before it, is one of those things where very few people will see it before it becomes obvious in retrospect. And that’s why DIGITALAX is here. To make it so obvious that millions of people can skip past the “is it or isn’t it” real stage and get right into enjoying the benefits.

Top Controversies in the Industry

The true power of decentralisation became apparent this week as one of the OG and most active DeFi protocols, Uniswap, announced restrictions on a handful of token listings through their interface. Some regulators continue to fall for the temptation to clamp down on what they don’t understand, or to defend their existing lobbying racket and corruption in the traditional financial system, when we all know that many of their actions are more claim than substance.

Let’ examine more closely the pressure against uniswap and what the regulators are claiming that they actually want. Well, it’s obviously consumer protection, fraud reduction, investor protection, and mitigating the degree to which financial systems unjustly exploit various market participants. On the merits, even a light glance at the history of traditional finance compared to the emerging principles and practices of DeFi makes very clear which way the barometer of virtue tilts and who is actually serving consumers and investors best. There is no doubt that the new and old worlds will continue to clash, however, government and regulatory power is not monolithic. These are real people often trying to do the best that they can for good reasons and with limited resources. When there is an overreach or a mis-step, like in the situation with Uniswap, it is really an opportunity to educate regulators on how decentralisation can take much better care of investors and consumers than the financial world that we are leaving behind. This new world is non zero sum.

Silly Fails and Trolling

Since NFTs hit it big earlier this year a number of ‘influencers’ too have entered the game. It’s not to say that all are coming in for a quick cash in on their clout and status, but, there have been a significant number that still believe that fame in the old world is 1 to 1 interoperable with metaverse territory. TLDR; it’s not.

If you would like a question answered or contribute content to next weeks article please reach out through our DIGITALAX discord server in #FUD-FAQ channel!

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FUD FAQ | A Weekly Community Thread | Week 17