Let's Not Make a New ICO Bubble Out of DeFi, Says Waves CEO

Ivanov compared DeFi to the 2017 ICO craze in a tweet earlier today, saying, “Please let's not make a new ICO bubble out of #DeFI.” When asked to elaborate on his statement, the Waves CEO noted that he strongly believes in DeFi, but is worried about the hype surrounding it: In Ivanov’s opinion, DeFi networks tokens “are clearly utility tokens, and do have a mechanics that gives them valuation”.

Even though DeFi might seem less appealing to uneducated investors than ICOs due to its complex structure, it is likely to suffer from volatility and sudden price drops, Ivanov continued: DeFi’s popularity has been surging recently. As reported by Cointelegraph, more than 1,000 new DeFi assets were added in May, increasing by almost 10 fold over the same time last year.

Timeline of Waves