The inglorious end of DeFiChain (DFI) continues. A key role in this is played by the crypto company Bake, with CEO Julian Hosp, which initiated DeFiChain in 2020. Investors are left hanging.
Where is Julian Hosp? The usually outspoken crypto celebrity seems to have disappeared, with his large accounts on X and YouTube going inactive for over a month. However, officially, Hosp remains CEO and owner of the crypto company Bake, whose main project is DeFiChain (DFI). Yesterday, this company alarmed customers with the announcement that all so-called dTokens will be delisted by October 21. This decision has far-reaching consequences, as outlined by Hosp critic Lorena B. on X.
dTokens are representations of prominent stocks like Apple and Amazon in the DeFiChain ecosystem, along with a so-called stablecoin named DUSD and even a dGLD for gold. dTokens are thus a core component of the concept DeFiChain aimed to promote. The system was created and promoted by Bake, with Julian Hosp as co-founder and now sole owner. The impending delisting of dTokens is seen by Lorena B. as yet another sign that Hosp and Bake are withdrawing their support for DeFiChain.
The downfall of DeFiChain began earlier – Hosp played a key role
As we reported in the summer, Bake will only cover the costs for further development and infrastructure of DeFiChain through the end of this year. From 2025 onward, the community will need to bear these expenses. As part of this transition, developer Kügi is preparing protocol changes for DeFiChain, which Bake says are too complex to continue supporting. This strategic decision likely didn’t happen without a “green light” from Julian Hosp. Anyone still holding dTokens is urged to withdraw them from Bake before October 21. Otherwise, these dTokens will be exchanged for DFI on the deadline, with additional fees applied.
In recent months, Bake (Cake) has already closed inactive customer accounts and dissolved long-term “freezer” accounts for customers in Singapore. These actions align with the tactic of shedding responsibility for DeFiChain. Over the summer, Julian Hosp made an unsuccessful attempt to inject new momentum into DeFiChain with a 90-day comeback initiative (https://block-builders.de/julian-hosp-als-ceo-von-bake-cake-hiosbotschaften-haeufen-sich/)—since then, he has disappeared from the public eye.
Conclusion: When will the final curtain fall for DeFiChain?
DeFiChain has always been closely linked to Julian Hosp, and Bake’s influence is now more evident than ever. The much-touted decentralization of the project was likely never truly realized, and it seems that Bake now simply wants to get rid of its customers. The price curves of DFI and DUSD have long since crashed, with investors suffering millions in losses. With the delisting of dTokens, investors are once again being pushed into a corner. Julian Hosp has experience with similar situations, having been involved in scandalous projects like Lyoness and TenX. If appearances are not deceiving, Hosp is now poised to successfully distance himself from a project for the third time, profiting while the majority of participants are left to suffer.
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