Over the past week I've been going through some of the latest DEFI gems, which seem eerily similar to the ICO craze of 2017. The biggest problem I have with these DEFI exchanges and networks is they rely on ETH.
ETH gas prices simply make the math impossible to make real sustained gains using anything tied into ETH. All of the staking, delegating, in the world cannot make up for exorbitant fees both to and from your wallet.
I transferred some 1inch to my metamask. The fees to stake and unstake cost me $19 each way. I only have $80 worth of 1INCH.
With a staking APR of 19% it would take me over 2 years to make up the gas fees just sending the coin in and out of wallet.
With so many better blockchains out there, how long until this house of cards collapses?