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  • All right, let's get back to my presentation today.

  • And this is part two, the I.

  • C.

  • E.

  • O.

  • Boom and bust of 2017.

  • And you can see right here on the slide, a really interesting table of the size of the I.

  • C.

  • O.

  • Market by month in 2017.

  • And you can see it starts off in january, it's not even 10 million by september.

  • It's almost hitting a billion dollars of money raised in the market and then it starts dropping by october november december.

  • And that gives you a nice little glimpse of the boom and bust that happened in uh in the days of I.

  • C.

  • O.

  • Um And I'm gonna talk about a little bit of the lessons that we're gonna learn here and I'm gonna get into that.

  • What really helped that boom and bust and I'll talk a little bit more about that.

  • I see a boom and bust was the very first decentralized exchange or decks and that was something called ether Delta And you'll probably see a logo here of ether Delta.

  • Um and at the time it was revolutionary because either Delta represented the first decentralized exchange and again a lot of you know coin base and you know, things like big finance, these are centralized exchanges where ultimately they require manpower, they require um fiat currencies and you know, they're not that much different than a stock exchange.

  • But with either Delta, we saw a decentralized exchange built on ethereum that allowed for permission list exchange of the E.

  • R.

  • C 20 tokens, which of course most of the eye ceos were based on and again it was based on an order book which of course didn't have the best user experience and we'll get into liquidity pools later.

  • And so a lot of times you were waiting to get the right price and it wasn't what we know today, a very liquid environment.

  • But despite that either Delta was one of the most popular exchanges, especially during the the I.

  • C.

  • O.

  • Days.

  • And I'll talk a bit more about that.

  • Unfortunately the exchange was hacked at the end of 2017.

  • The hacker got access to the ether Delta front end.

  • It proxy the traffic over to a phishing site and ended up scamming the users out of about $800,000.

  • Unfortunately later the founder of ether Delta was charged by the sec for running an unregulated security exchange in 2018 and pretty much the party was over around either Delta.

  • But again it showed us some of the problems when it comes to defy and that's why we have to stress test this stuff.

  • That's why it's so important that these things are anti fragile.

  • And we saw and we learned lessons from ether Delta.

  • We learned that you've got to test these systems.

  • And we also learned that we had to find those liquidity pools.

  • And so I just wanted to give a note to that part of our history defy, which stands for decentralized finance.

  • This is a $9 trillion per year marketplace.

  • I want to talk about our brand new defy academy.

  • Our first program is called the defi accelerator and we have been absolutely inundated with applications from around the world.

  • I'm gonna be talking about how you can profit from what I'm calling the greatest dislocation of wealth in human history, decentralized finance is already revolutionizing the world of finance.

  • You just don't know it yet.

  • I'm going to talk about the difference between defy and cryptocurrencies.

  • There's a big difference.

  • I want to go into how to trade the markets.

  • It takes a lot of discipline.

  • It takes emotional discipline, it takes intelligence.

  • It's not an easy thing to do.

  • I'm looking for a small group of people who want to actively participate in this upcoming deep by revolution.

  • I'm looking for serious individuals only with real network who want to build this exciting financial infrastructure.

  • I'm looking for partners, collaborators, investors, colleagues who want to join forces and create real value and generational wealth.

  • If you're one of those people go to London dot tv forward slash defy and submit your application Now you've got a chance.

  • Life all comes down to a few moments.

  • You have a chance now to join me on this incredible adventure for the next 10 years, it will change your life.

  • The lifes of your Children and grandchildren, maybe the life of billions of people on this planet.

  • What are you gonna do?

  • What's the choice that you're going to make?

  • Yeah, yeah.

All right, let's get back to my presentation today.

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B1 delta ether exchange bust decentralized defy

How The Hacking Of EtherDelta Contributed To The ICO Boom & Bust ? Brian Rose

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    林宜悉 posted on 2021/07/02
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