TechFlow news — Jiang Zhuoer, founder of Litecoin Mining Pool, posted on Weibo stating: 1. If CEXs (centralized exchanges) are not comprehensively banned, DEXs can only serve as a supplement to CEXs. The decentralization of DEXs brings two to three orders of magnitude decline in efficiency, which is intolerable for finance; 2. DeFi liquidity mining is a typical Ponzi scheme. Based on my modeling and multiple indicators—including several contrarian signals—it has already entered the final stage before collapse. The peak has likely passed, and the maximum lifespan before collapse does not exceed 20 days; 3. The nested structure of liquidity mining is essentially a collateral locking mechanism—whatever inflated market cap it can generate during an uptrend will burst at the same speed during a downtrend. Remember, wealth cannot be created out of nothing; energy conservation is the most fundamental law of the universe.
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