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Staking in Crypto
Manage episode 340930816 series 3287389
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Staking cryptocurrency assets can serve a purpose for projects - for example, raising liquidity for a decentralized exchange. And I approve of that kind of use, because it serves a purpose.
Unfortunately the use of staking in many projects amounts to nothing more than a complicated Ponzi scheme (and I don't use that phrase lightly).
I suspect that it is a decision that is often just not thought through - the project founders are enthusiastically deciding, "Hey, let's implement a DAO! And let's provide staking!" without considering the ramifications.
More on this in the episode.
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