An exchanger Crypto.com launched its own decentralized token exchange service on the Ethereum network. As you can see from the announcement, the service offers exchange, providing liquidity and farming with triple income.
DeFi is not a One-Size-Fits-All Solution
However, not everything is as clearly defined as it seems to be from the perspective of the project itself. Despite the fact it was only recently that Crypto.com announced a launch of a payment card, it helped the CRO token to grow in price. The project's attempt to enter the DeFi trend looks like an opportunity to save the project.
The same opinion is shared by a crypto lawyer, Larry Cermak. He tweeted that this is an attempt for Crypto.com to stay afloat and support the popularity of their CRO token.
DeFi has become a vehicle for exchange tokens of these centralized projects that feel threatened. All virtue signaling bullshit Larry Cermak @lawmaster via Twitter
Upcoming DeFi trends
According to Larry, if this trend is supported by other centralized projects, the entire ecosystem will be smeared across several protocols. Forking projects and exchanges will be a common place.
If CRO pumps on this announcement of a Uniswap wrapper, this entire market would start to feel toppy. Literally forking projects and implementing exchange tokens in it, this is hilarious Larry Cermak @lawmaster via Twitter
It is worth to mention that this is not the first statement from public figures that something is going wrong in the DeFi ecosystem. Experts are already saying that the DeFi bubble will burst soon. Apparently these are just the first bells.