How Normies Are Getting Crypto-Rich With DeFi

Ethereum whales undoubtedly drive the decentralized finance movement, but many people making money on DeFi trends are just regular Joes, so to speak.

"I'm not a whale in the crypto world but I'm one of the top users of the DeFi protocol I use," he said.

"Before, when DeFi was smaller, there was a lot less competition."

It's impossible to say just how many rookie traders raked in unusually high profits during the YAM debacle in August, when an unaudited crypto experiment garnered $465 million in crypto then imploded within 72 hours.

For both of the above-mentioned DeFi fans, this is a life-changing amount of money.

These users often rely on service providers to access the DeFi ecosystem.

The DeFi mentality emphasizes open-source access to tools, services with low barriers to entry and distributed teams.

ConsenSys's head of product for Infura, Michael Godsey, said his team handled the "Increased usage" from the food-themed yield farming spike, watching closely to understand "These new usage patterns." Such DeFi experiments provide inspiration and research data for Ethereum startups, not chagrin.

As for Joe, the Canadian college student, he said he plans to keep stacking tokens because the broader DeFi movement is "Sustainable and has been growing at a relatively slow pace for years."

Joe reasoned these DeFi experiments might end in a "Big crash" or slow fizzle.