I think I need to write something about dangerous protocol like ParaSpace, it’s not about the competition, I never said the same thing for NFTFi.com or JPEGD, the bigger ParaSpace grows, the more damage it will bring to NFTFi industry.

When Satoshi wrote "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" in bitcoin genesis block, our industry born to challenging the banking system which is not a transparent system, they hide ledger and doing business non-transparent, and when people found it, it's always too late, banks want to be too big to fail, which is not fair, that's why we here: by transparent ledger we let people don't trust the banking system, they need to verify the blockchain ledger which leads to most of DeFi protocols we have now.

When FTX bought the social media to make SBF a hero that "MIT, Vegetarian, Effective Altruism", People trust him without verification, I get fooled for a long time, hearing that they only have 10 engineers to build FTX system, think that they are super cool. But it turned out to be a disaster for crypto, people trust him without verification don't hold their key, lost their coins in the end.

It's reputation business, reputation business is ok, but it can be better to be transparent like:

Social media can decline that who is this article sponsored.

KOL can decline that this is a promoting cos I was sponsored.

While PFP is for identity, the more followers one PFP project user have, the more well known a PFP project it would be. PFP projects need to run the reputation business well to get more social attention, it’s ok for PFP projects cos it have no assets security issue, most of them are non-upgradeable ERC721 contract.

But reputation business is a flag for DeFi projects. DeFi project need to put safe first, spend a lot of time to make the business as simple as possible, design and write code with high test-coverage, spend a lot of time reviewing the code with team members and auditors. Even by doing that, one critical bug can destroy the protocol, it's not that easy to run a DeFi project SAFU.

Buying reputations from PFPer in one community for DeFi protocol is horrible. If that business is run with money under the table, it's even worse.

It put the people who sold their reputation to DeFi protocol in huge risk. I don't think most of reputation sellers have idea what is the risk of DeFi protocols. Because when the DeFi protocol got hacked, it destroy the relationships in the community, because people will lost their identity, it sucks.

So please, stop buying reputation from community for your DeFi protocol. So please, stop selling your reputation to DeFi protocol in your community.

If you really want to buy and sell reputation for it, make the ledger transparent.

And for the people not doing reputation selling business: Don't trust, verify:

• Did the protocol bought social media to only say good thing about the protocol?

• Did the protocol spend money transparent onchain?

• Did the people promoting the protocol actually using that protocol? are their assets in the protocol? do they have the ability to verify the security of the protocol?

• Did the money or the token promised for promoters transparent or under the table?

• Did the project have a big bug bounty for security?

• Can you find good engineers to verify their code? code copycat? open sourced? test-coverage high? simple designed? doing basic DeFi protocol practise?

  It won’t be hard to get the answer by verification.