There’s a particular reason why DeFi Pulse, the be-all and end-all of decentralized finance doesn’t measure the industry size to the last decimal. 1inch, an exchange for decentralized aggregators- currently holding up to a value of $2 billion- isn’t present on the DeFi Pulse. It should go without saying that DeFi Pulse ranks at the top of the food chain of DeFi projects with the amount of money they currently handle.
It has been two years since the decentralized blockchain closed the doors on the face of 1inch- and its founder Sergei Kunz stated that DeFi had gone another step forward to steal the code of 1inch in order to create a project that would compete with 1inch.
DeFi Pulse And 1inch At Each Other’s Throats- What Does It Spell For The Blockchain Network?
Scott Lewis, the founder of DeFi has rebuffed the claims- stating that Kunz had threatened physical violence and nothing else. Lewis mentioned that Kunz was nothing but trouble for his company. As it stands now, Lewis’s team has completely refused to play by the rules with Kunz- rather they would work with the community of 1inch.
The clause- one of the members from the large community has to come up to the plate and take the mantle. Else, DeFi Pulse won’t recognize 1inch. This further implies that the top line of this blockchain doesn’t truly project the real amount of crypto that remains locked inside the many protocols of DeFi. This is the total value of the entire decentralized industry of finance.
This brings the entire crypto sector to a very crucial fork in the road- how can decentralized finance progress when two of their most important creators are ripping each other out?
To the uninitiated, 1inch Exchange is one of the most famous aggregators of decentralized exchange which was created in 2019. It usually functions as a router of trades across the different projects of DeFi. The catch- DeFi Pulse doesn’t accredit it anymore since the threats came from Kunz’s side- according to Scott Lewis.
