Problems solved by FomoWell

DeFi has a long history of development, but different problems existed at different stages. Let's review them.

(1) In the early stage of DeFi's emergence, creators of early projects like BitShares hoped to transplant the entire CEX model onto the chain. However, for users, this was no different from the operation mode of CEX. Moreover, due to the limitations of on-chain TPS, operations became even more cumbersome. The project issuance process still lacked transparency, and user participation was extremely low.

(2) In the era of DeFi 1.0, also known as the ICO era, from the perspective of token distribution, this was the era of "manual" DeFi, where VC institutions, agents, and other intermediaries profited from price differentials. This lack of transparency in information was not beneficial for ordinary users.

(3) DeFi 2.0 is the era where users provide liquidity autonomously, unleashing some productivity. However, incidents of project creators dumping reserved positions still occur frequently. Many projects are nominally DAOs but are actually manipulated, leaving users hesitant to fully participate in project development.

The problems users faced in the aforementioned periods will gradually be addressed in the DeFi 3.0 stage. DeFi 3.0 will be an era of broader connectivity, lower barriers to user participation, and fairer community involvement. DeFi 3.0 aims to change the unfair order where a project is created by one party but taken over by users, or the unequal production relations, and instead create a production relation where users participate fairly and everyone is a project builder, eliminating user doubts and fully unleashing the productivity of the community. The operational model of FomoWell is the best representation of the ideals pursued by DeFi 3.0.