On the American Independence Day, DFX Swiss declared its independence from its venture capital provider, the Defichain community.
Over the past few weeks and months, the Swiss company has increasingly focused on Bitcoin and the Metamask ecosystem, establishing a simple and often fast solution for buying and selling crypto. This development was desirable for all of us and expanded the possibilities for easy investment. I should have become suspicious earlier this year when discussions about clarifying the details of the column offered to me in the DFX blog were suddenly postponed indefinitely.
From a business standpoint, it is understandable that one is forced to expand revenue significantly when operating with low margins in order to generate sufficient profits. No customer has a problem with that – on the contrary, it provides more opportunities. However, the decision announced now is something entirely different: The connection to the "midwife" is completely severed without any comprehensible reasons, and many customers' savings plans will no longer be executed.
Reading between the lines of the Twitter tweet (in my interpretation), it seems that there is an issue with Bake and the Cake Group (or only its CEO?). But does this justify blindsiding one of the largest German-speaking DeFi communities with such a bang (immediately halting purchases, removing the app from the App Store)? Certainly not, even though the trading volume is not particularly high in the current bear market, it shows a lack of tact and a lack of entrepreneurial foresight at the beginning of Phase II of Defichain, namely the launch of Defimetachain, to alienate customers.
It is morally questionable when a company no longer wants to serve the community with whose money it built its business. In fairness, the CFIP funds should be refunded since the benefit to the community no longer exists.
One can also buy coins through Coinbase and Kraken and send them to their wallet. With Kraken, there are only minutes between the purchase and the withdrawal... DFI is available on platforms such as Bittrex, Gate.IO, Huobi, and Kucoin, to name a few.
Business decisions do not require the approval of customers, but customer decisions regarding which company to choose as a partner also do not require the approval of the company...