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The DeFi Chronicle: 3 Practical Reasons Why I’m staying away from Drip clones and forks
Tesla made history by building a new car company from the ground up. They broke the rules of traditional car companies by offering better features with an eco-friendly narrative. Tesla’s most obvious mold-breaking is creating a sexy electric vehicle allowing people to recharge their vehicle at home, work, or on its tremendous supercharger network.
Tesla was the first to launch autonomous driving and system updates for dynamic improvements. They also cut out the high-pressure dealer model by selling directly to consumers. In response, other automobile manufacturers are scrambling to compete and copy pages out of the Tesla handbook. According to their market caps, they aren’t doing a good job.
Today, we are seeing a similar narrative playout in the decentralized finance space. A project does well and developers copy and paste the same project and make a few adjustments to “improve” the project.
After witnessing tremendous success with the Drip ecosystem, several developers are looking to capitalize and cash in on copying Drip’s recipe. While an argument can be made (and I will share it) to get involved in these new projects, I will be avoiding them and will share 3 reasons why.
- New DeFi projects are risky
