Understanding DeFi by Alexandra Damsker

Author:Alexandra Damsker
Language: eng
Format: epub
Publisher: O'Reilly Media
Published: 2024-03-02T00:00:00+00:00

If managing these risks is not appealing or possible for you, please do not create for this space.

Consider carefully which market you want to address. Though you may eventually get overlap in markets (Great for you! More use = more money for you!), basic business principles still apply. Let’s take a look at those now.

Rule 2: Did You Apply Basic Business Principles and Process?

Next, we need to apply our business principles and processes. I’m assuming this is a revenue-generating, for-profit entity that is being created, not a nonprofit entity or a money-losing entity. For those who say we don’t need to run a profit, I would just like to point out that money-losing operations don’t last. Even patrons run out of patience for operational black holes. If you can’t build something that at least pays for itself (doesn’t require volunteers to continue running, or continued token offerings to gain value), you don’t have a business, you have a charity. And charities are more work than businesses.

Let’s look at those processes, to make sure you’re running something that can last.

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