[ChainNet]

There's nothing decentralized about FTX or Binance. They operate in an opaque manner like any traditional business, transparency comes from forced audits & regulation.

Decentralized finance is built on chain where all assets are publicly auditable at all times.

EDIT: parent comment talked about decentralized finance, then edited to remove mentions of defi

[three_seagrass]

Even without the edit, your response feels like a no-true-scotsman

i.e. an attempt to remove bad actors who deal in decentralized cryptocurrencies from the purity that is defi.

What are some large, successful defi organizations today?

[null0pointer]

I don't see at all how you can say calling out literally centralized companies as "not-decentralized" is no-true-scotsman. It's just an obvious fact.

> What are some large, successful defi organizations today?

In my opinion, if there is an organization behind it then it is, by definition, not decentralized. Yes, even the ones that operate fully on-chain.

[three_seagrass]

>literally centralized companies as "not-decentralized"

So defi is only 100% decentralized everything, even if the financial tools are decentralized? That feels like an appeal to purity if ever there were one.

[null0pointer]

Ok, my previous comment is a bit unclear about what I mean. In my opinion if there is a group of people, other than the participants themselves, who can control the operation of the financial service then it is not decentralized. There can absolutely be an organization that builds the service, but participants should not be forced to adopt updates and should be free to transfer their entire balance to any other service at any time.

I realize I’m on the fringe a bit with this but I think it’s not because I have an extreme idea of what defi is, it’s that there have been so many grifters in the last 5 or so years that have used the buzzword “defi” to sell their shitty reincarnation of long-outlawed shady centralized financial schemes as something revolutionary that it’s shifted the public perception of the term. I’d even agree with you that it’s an appeal to purity.

[sperm]

Uniswap. Large in terms of volume, not org size.

[ChainNet]

Uniswap, Curve DAO, AAVE, Compound, Lido, MakerDAO...

[TimJRobinson]

https://defillama.com/ - there are hundreds. Almost all are open source and transparent.

[potatototoo99]

Tornado Cash is pretty successful.

[colinmhayes]

not sure about this one.