Interview: Hack protection and launching on Polygon – De.Fi

It’s no secret that DeFi has struggled since the heyday of 2020. Like a lot of things in crypto, liquidity has fled and prices have collapsed. DeFi has been hit especially hard as the attractive yields that were once available have disappeared – at the same time that rates in traditional finance have rocketed. 

We chatted with Artem Bondarenko, Software Architect at De.Fi, to get his thoughts on what it’s like working in the sector today against this backdrop. Additionally, we talked about hacks and scams in DeFi, a problem which has plagued the bludgeoning sector, and an area in which Bondarekno’s company is working.

Interview with Artem Bondarenko of De.Fi

Invezz (IZ): When DeFi was taking off, yields in the space were extremely high while interest rates in traditional finance were near zero. This has now completely flipped – do you think TVL in DeFi will remain low as long as rates outside of crypto are stout?

Artem Bondarenko (AB): The “DeFi summer” was primarily driven by speculation without solid underlying fundamentals. The initial surge was a short-term effect lacking sustainable foundations.

Considering the current landscape, it is unlikely that the TVL in DeFi will experience substantial growth in the near future, unless there is another bullish market period or significant non-speculative use cases emerge for DeFi. 

These developments could potentially reignite interest and attract a larger pool of participants to the DeFi space.

Scams and hacks within DeFi

The DeFi sector is notorious for hacks, with millions upon millions syphoned across the blockchain as users fall victim to various types of scams and exploits. De.Fi is aiming to reduce these losses, and has recently launched an AntiVirus tool on the Polygon network, the popular Layer-2 for Ethereum.

IZ: Can you explain in simple terms how the AntiVirus tool could protect against crypto exploits and scams?

AB: An antivirus for crypto is responsible for protecting your digital assets (such as cryptocurrency tokens and NFTs) from potential threats such as smart contract exploits and malicious attacks. De.Fi’s Antivirus is a multi-layer security…