Defi Degens
| DeFi Degens - Defi degens, short for DeFi degenerates, is a subculture of decentralized finance that is known for its pump and dump scams. These scams involve artificially inflating the price of a digital asset through social media and then selling it off for a profit. The DeFi degens community is made up of mostly anonymous individuals who are often associated with other subcultures, such as the 4chan /biz/ board and the cryptocurrency community. This community is known for its high risk tolerance and willingness to take on financial risks in pursuit of quick profits. While there are many legitimate projects and businesses in the DeFi space, the community is often overshadowed by the scams and bad actors. This has led to some calling for a more regulated and centralized approach to DeFi, which goes against the decentralized ethos of the community. Whether you love them or hate them, the DeFi degens are here to stay. So, if you're thinking about getting involved in the world of DeFi, just be sure to do your research and be aware of the risks. |
Share this glosssary
