Re:DeFi risks and the decentralisation illusion
by edvinbesic on Tuesday December 21, 2021 @05:51PM
(#29643069)
a) it does matter because despite what you think CeDeFi is only there to create confusion in the industry. Centralized decentralized finance. Which is it?
b) staking has nothing to do with DeFi
Re:DeFi risks and the decentralisation illusion
by vmception on Tuesday December 21, 2021 @06:31PM
(#29643427)
so for anyone passing by (this isn't a response to you any more I no longer care what you think but I do care what others think)
Banks and brokers that offer exposure to the defi market are called CeDeFi because you could interact with DeFi yourself with no restrictions but the organizations that help you are just banks and brokers so it is a centralized company layer on top of the defi market. Those come with restrictions.
Their staking products allow you to provide them with liquidity, similar to a deposit at a bank or certificate of deposit (CD) at a bank, where they take your balance and put it in DeFi products to make a better yield for themselves.
b) Coinbase is many products. Coinbase Staking is the one that matches what was described above. Don't conflate the front facing CEX for everything they offer. No different than Amazon not being a bookstore, nor just an ecommerce platform. It is many products. The context was solidified amongst several other products with similar offerings. Coinbase's various CEX products have nothing to do with their Staking product (or the Lending one they were going to try, of Vault or several others)