DeFiChain: Another Project Partner is Leaving – the Price Is Hitting the bottom

DeFiChain (DFI) is experiencing series of setbacks: the price curve is on a downward trend and another project partner announces its withdrawal. In addition, no solution has been found for the future of Cake, the company behind DFI.

DeFiChain (DFI) is currently celebrating its four-year anniversary and in a blog post the team goes so far as to say: “Really, our success is your success!” But in reality there is no sign of success at DeFiChain.

DFI is currently trading at just over $0.05, just a hair above its all-time low. Investors recently had to watch helplessly as the founders Julian Hosp and U-Zyn Chua fought each other publicly and in court . There is no solution as to how the Cake joint venture should be constructively continued. Cake is behind DeFiChain. A cooperation partner, DeFiChain Domains, has now announced that it is canceling its launch.

Already in February, two important projects, Jellyverse and Dobby, had turned their backs on DeFiChain and were not sparing with criticism

DeFiChain Domains also distributes. It is said that the community is only growing in the DACH region (Germany, Austria, Switzerland), and the price of DFI does not allow a project to be operated sustainably. DeFiChain Domains wanted to distribute domain names with the ending .dfi and thus copy the concept of Ethereum Name Service.

DeFiChain Domains is now further disappointed by the lack of interest in NFTs and too much centralization in the ecosystem. Julian Hosp and U-Zyn Chua have repeatedly had to endure such criticism for Cake and DeFiChain. The two did not comment on the withdrawal of DeFiChain Domains. Julian Hosp says he has made a takeover offer for Cake to U-Zyn Chua, but no agreement is known.

Conclusion: Millionaire DeFiChain – warnings were ignored

When we warned against investing in DeFiChain in July 2022 , DFI was still around $1. The decline of DeFiChain is unmistakable; the alleged stablecoin DUSD in the ecosystem has also fallen hopelessly for almost two years and is currently trading at around 0.40 US dollars instead of reflecting the US dollar 1:1 as promised.

Investors have lost millions in this construct and Julian Hosp’s role is questionable. His past with the Lyoness and TenX pyramid schemes still brings Hosp scam accusations to this day. DeFiChain Domains is pulling the ripcord and reacting to what is probably a hopeless situation.

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(Featured image by Ri_Ya via Pixabay)

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