Udi Wertheimer Says DeFi Funds Not Locked In And Are Being Dumped On Market

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Udi Wertheimer made a statement saying that decentralized finance (DeFi) funds are not truly locked out and are constantly being dumped back into the market.
  • Wertheimer responded to the tweet conversation between @DanDarkPill and Eric and made his own statement that unlike DeFi.
  • The largest DeFi protocol is Maker, the Ethereum-based lending service protocol, holding a 60% market share, holding over $597 million in funds.

Reckless Review podcast co-host, Udi Wertheimer, made a statement saying that decentralized finance (DeFi) funds are not truly locked out and are constantly being dumped back into the market. Wertheimer said that it was simply the spread of misinformation to call DeFi funds are locked in, and it is just dishonest and stupid.

The conversation flowed when a Twitter user @DanDarkPill, who made a comment saying that a Parity wallet hack locked in $110 million worth of Ethereum to another tweet from Ethhub founder, Eric, who stated that $1 billion was “locked” in DeFi.

Wertheimer responded to the tweet conversation between @DanDarkPill and Eric and made his own statement that unlike DeFi, Parity Funds are actually truly locked out of the market due to the deleted code library that resulted in the lockout of ICO funds from 151 addresses.

In comparison, Wertheimer says that DeFi funds aren’t actually locked in at all, and are free to move around and is constantly being dumped back into the market.

He continued by calling an analogy that it is similar to saying that his Bitcoin is “locked out” from his Bitcoin Core wallet if he doesn’t hold his private key. Technically there is a “lock script” that holds his Bitcoin secure using the private/public key authentication, but it is not truly locked out of the market.

Capital flowing into decentralized finance protocols and apps crossed $1 billion in the past week. The largest DeFi protocol is Maker, the Ethereum-based lending service protocol, holding a 60% market share, holding over $597 million in funds. The second place is held at $156 million by Synthetix and third at $125 million by Compound.

The DeFi funds have seen a huge inflow since the beginning of the decade in January, jumping from short of $700 million to the present $1.01 billion. This is expected to be a result of the surge in Ethereum prices over the past 60 days, with prices having seen a 52% gain in the last month alone.

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