If DeFi Had This in 2022, Maybe It Wouldn’t Have Collapsed

Decentralized Finance (DeFi) experienced tremendous growth followed by a dramatic collapse in 2022. Many wonder if anything could have prevented this disaster. A possible solution is adopting more transparent and accountable practices. This requires projects to be clearer about the risks involved and provide accurate information about how they work. Furthermore, there should be mechanisms for oversight and supervision to prevent misconduct. Users should also exercise due diligence and understand the risks before investing their money. Had DeFi embraced these principles earlier, it might have avoided some of the problems that led to its downfall.