I’m thinking of starting my own DeFi project. I plan to do most of the programming, marketing, and design myself. I have a budget set out. I think my project will do something unique.
However, I want to remain anonymous and not have to start an actual company behind it and go through all that paperwork. Is it necessary to raise funds from investors and venture capital in order to succeed in DeFi? And is it possible at all to remain anonymous if you do try to raise funds?
3 thoughts on “Does a DeFi project need investors in order to be successful these days?”
Well everything is possible.
However depending on the size of the Project you will not be able to do it all alone. Don’t only think about development and marketing you need to also consider partnerships, customer support, documentation, governance etc.
Also if your project is unique and gains some traction, someone with more funds and a bigger team will clone it and make a better version of it.
Also note in crypto you are not anonymous, you are pseudonymous as flows of funds can be tracked and there are two points of failure who know your identity:
– The Cex in case you try to move Crypto to Fiat or vice versa
– The Webhoster knows your credit card information (unless you find one which takes crypto) – by default they will even register your name on whois, but there are services to scrub that information (go daddy has one)
So in case things go sideways, you gambled away all ICO money and want to cash out they might find you anyway.
DeFi is a lucrative and promising approach to financial freedom, but its success requires more than just investors, privacy and security are crucial aspects of DeFi that cannot be overlooked. Investors are not likely to invest in projects where there is no privacy, safety, and security of their funds. Therefore, if you’re considering building a DeFi project, prioritizing the privacy and security of users’ funds is essential for success in the space.
A lot of people won’t touch a defi project without a doxxed team, it’s a huge red flag that points to a scam.