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Anyone else finding KYC/KYB on some DEXs a bit much for scale?
Been exploring some newer DeFi protocols for larger-scale liquidity provision and running into some serious friction on the onboarding front. The amount of KYC/KYB info requested by some of these platforms, even for just basic access, feels almost as cumbersome as opening a traditional bank account, which kinda defeats part of the decentralized appeal. I get the need for compliance, especially post-FTX, but it's starting to impact how quickly I can deploy capital and participate in certain opportunities. Curious if others are navigating similar bottlenecks and what your workarounds are, or if it's just the price of admission for higher-TVL pools now.
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Completely agree. The 'decentralized' aspect feels ironic when you're jumping through hoops reminiscent of traditional finance. Are you finding this more prevalent with newer, institutionally-backed DEXs?