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DeFi Problems - Coggle Diagram
DeFi
Problems
High & unpredictable transaction fees
Slow transaction speed
Zero support for KYC (Know Your Customer)
Zero support for AML (Anti-Money Laundering)
Fake dApps, apps, & wallets
Large number of scams and rug pulls
Unsustainably high energy consumption
Creation of a new set of intermediaries
Duplicate ticker symbols
Low to zero grievance redressal mechanisms
Low to zero consumer protection
No insurance cover
Vulnerability of Smart Contracts
Complexity
Unpredictable yields
Regulatory uncertainty
Usage by criminals & blacklisted entities
Low liquidity
High collateral for loans
Low level of transparency