# What is your skepticism about DeFi lending? **URL:** \ **Category:** Miscellaneous\ **Created:** [August 28, 2023, 8:18am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932 "2023-08-28T08:18:23Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![uninsured043](https://avatars.discourse-cdn.com/v4/letter/u/7feea3/32.png) [@uninsured043](https://community.onyx.org/u/uninsured043)\ **Post date:** [August 28, 2023, 8:18am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/1 "2023-08-28T08:18:23Z")
What are you guys thought? Do you think DeFi will offer better lending options compared to traditional finance? And what do you guys don’t like about DeFi? ---
**Author:** ![Terra](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/terra/32/35_2.png) [@Terra](https://community.onyx.org/u/Terra)\ **Post date:** [August 28, 2023, 11:59am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/2 "2023-08-28T11:59:54Z")
One thing which i dont like is Hacks here and there . There should be more robust platform and more integrated approach ---
**Author:** ![Cosmic\_Byte](https://avatars.discourse-cdn.com/v4/letter/c/2bfe46/32.png) [@Cosmic\_Byte](https://community.onyx.org/u/Cosmic_Byte)\ **Post date:** [August 29, 2023, 8:17am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/3 "2023-08-29T08:17:29Z")
While it does offer better yields generally and ways to take on more risk for nore yield ( like looping etc ) I also feel it has various risks like the risk of being exploited first and foremost and also the dependency on the blockchain, for example Onyx is on Ethereum currently and therefore Ethereum’s scalability issues also become limiting for Onyx and also if you make your own app-chain the liquidity just keeps getting fragmented. These are the primary risks I personally feel. ---
**Author:** ![whakig442](https://avatars.discourse-cdn.com/v4/letter/w/a183cd/32.png) [@whakig442](https://community.onyx.org/u/whakig442)\ **Post date:** [August 29, 2023, 9:53am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/4 "2023-08-29T09:53:01Z")
Yeah, hacking here and there shouldnt be exist in a decentralised space. Projects should invest more in security as well as features. But that would cost a lot. I hope Onyx does have some decent whale backing to keep the project going. ---
**Author:** ![Onyxfan11](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/onyxfan11/32/141_2.png) [@Onyxfan11](https://community.onyx.org/u/Onyxfan11)\ **Post date:** [August 29, 2023, 5:01pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/5 "2023-08-29T17:01:40Z")
whale backup with proper security checks regularly and strong team of devs . ---
**Author:** ![Terra](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/terra/32/35_2.png) [@Terra](https://community.onyx.org/u/Terra)\ **Post date:** [August 29, 2023, 5:03pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/6 "2023-08-29T17:03:30Z")
scalability is not issue anymore, we have layer solutions we can easily integrate to those layer 2 ---
**Author:** ![uninsured043](https://avatars.discourse-cdn.com/v4/letter/u/7feea3/32.png) [@uninsured043](https://community.onyx.org/u/uninsured043)\ **Post date:** [August 30, 2023, 3:44am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/7 "2023-08-30T03:44:38Z")
Can someone from the team answer me about this question, please? Everytime you push an update to Onyx, does the code get audited? Or Onyx is audited once a year? Regular audit could keep Onyx safer and more robust. ---
**Author:** ![hereforstaking](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/hereforstaking/32/52_2.png) [@hereforstaking](https://community.onyx.org/u/hereforstaking)\ **Post date:** [August 30, 2023, 4:57pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/8 "2023-08-30T16:57:48Z")
its already a form of compound . so it is need to audit each code update ? ---
**Author:** ![uninsured043](https://avatars.discourse-cdn.com/v4/letter/u/7feea3/32.png) [@uninsured043](https://community.onyx.org/u/uninsured043)\ **Post date:** [September 4, 2023, 5:19am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/10 "2023-09-04T05:19:51Z")
Yeah, I still think it better to know whether the code is secure and robust enough after a certain period of time. I know it costly but as retail investor with no knowledge related to coding, an audit is still better than nothing. ---
**Author:** ![cryptostaker](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/cryptostaker/32/46_2.png) [@cryptostaker](https://community.onyx.org/u/cryptostaker)\ **Post date:** [September 4, 2023, 5:44pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/11 "2023-09-04T17:44:15Z")
why not trying to put a proposal for another audit and see the reaction ? or talk with alex 🫥 ---
**Author:** ![Cosmic\_Byte](https://avatars.discourse-cdn.com/v4/letter/c/2bfe46/32.png) [@Cosmic\_Byte](https://community.onyx.org/u/Cosmic_Byte)\ **Post date:** [September 5, 2023, 9:16am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/12 "2023-09-05T09:16:32Z")
L2s fully sacrifice decentralization is the primary issue with L2s. ---
**Author:** ![Mick](https://avatars.discourse-cdn.com/v4/letter/m/f04885/32.png) [@Mick](https://community.onyx.org/u/Mick)\ **Post date:** [September 5, 2023, 11:12am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/13 "2023-09-05T11:12:59Z")
This is a cool topic guys. I think it is just so early still for the whole industry. Probably the fragmentation of it is giving me the most worry. There is so much fragmentation both over the different chains and the different liquidity and collateral pools. It is amazing that we can get the amazing rewards now but the industry definitely comes with more risk than tradfi. ---
**Author:** ![Zane](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/zane/32/48_2.png) [@Zane](https://community.onyx.org/u/Zane)\ **Post date:** [September 5, 2023, 5:11pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/14 "2023-09-05T17:11:04Z")
Base has sacrificed the decentralization ? in this sense even eth is not fully decentralized ---
**Author:** ![Onyxfan11](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/onyxfan11/32/141_2.png) [@Onyxfan11](https://community.onyx.org/u/Onyxfan11)\ **Post date:** [September 5, 2023, 5:21pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/15 "2023-09-05T17:21:49Z")
[https://cointelegraph.com/news/vitalik-buterin-ethereum-centralization-issues-running-nodes-easier](https://cointelegraph.com/news/vitalik-buterin-ethereum-centralization-issues-running-nodes-easier) ---
**Author:** ![Onyxfan11](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/onyxfan11/32/141_2.png) [@Onyxfan11](https://community.onyx.org/u/Onyxfan11)\ **Post date:** [September 5, 2023, 5:22pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/16 "2023-09-05T17:22:01Z")
This is good read on this topic ---
**Author:** ![uninsured043](https://avatars.discourse-cdn.com/v4/letter/u/7feea3/32.png) [@uninsured043](https://community.onyx.org/u/uninsured043)\ **Post date:** [September 6, 2023, 6:40am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/17 "2023-09-06T06:40:22Z")
The irony is once we have a one-stop shop DeFi platform then that very DeFi platform will become centralised because there is no other option. Maybe alternatives exist but it cannot offer the same quality as that one ---
**Author:** ![Cosmic\_Byte](https://avatars.discourse-cdn.com/v4/letter/c/2bfe46/32.png) [@Cosmic\_Byte](https://community.onyx.org/u/Cosmic_Byte)\ **Post date:** [September 6, 2023, 10:48am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/18 "2023-09-06T10:48:13Z")
Base is built using OP stack. Optimism runs centralized sequencers with admin keys, therefore, super centralized. ---
**Author:** ![Nial](https://yyz2.discourse-cdn.com/flex008/user_avatar/community.onyx.org/nial/32/38_2.png) [@Nial](https://community.onyx.org/u/Nial)\ **Post date:** [September 6, 2023, 2:26pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/19 "2023-09-06T14:26:13Z")
seriously ? OP is not decentralized 😷 ---
**Author:** ![Mick](https://avatars.discourse-cdn.com/v4/letter/m/f04885/32.png) [@Mick](https://community.onyx.org/u/Mick)\ **Post date:** [September 8, 2023, 11:49am UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/20 "2023-09-08T11:49:07Z")
There is a lot in the works to integrate different protocols but those protocols need to be open from the start to become interconnected. ---
**Author:** ![uninsured043](https://avatars.discourse-cdn.com/v4/letter/u/7feea3/32.png) [@uninsured043](https://community.onyx.org/u/uninsured043)\ **Post date:** [September 8, 2023, 4:05pm UTC](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932/21 "2023-09-08T16:05:58Z")
Yeah, I agree. You said those protocols need to be open from the start but isn’t all crypto project has their github on their website? Or maybe I’m missing something? [Next page](https://community.onyx.org/t/what-is-your-skepticism-about-defi-lending/932.md?page=2)