DeFi merely a trend?
The majority of DeFi projects believe the industry is far away from maturity, but they are sure that mainstream adoption is likely to occur. This was disclosed on Sept. 21 when Cointelegraph Consulting released the results of a DeFi survey in “DeFi Adoption 2020: A Definitive Guide to Entering the Industry.
Source
It has been a crazy past couple of months, for those of us in the crypto world we can almost forget Covid ever existed because we kept on seeing developments, at some point Bitcoin chose to be stable for quite some time, probably trying to imitate stablecoins it was almost boring. Then we had DeFi boom and it was all over the show and still continues to be the trend now.
So it's been quite an eventful 2020 so far for the cryptosphere.
Decentralized Finance, the term Decentralized itself is appealing to me. So do I like DeFi? absolutely yes! though I am yet to partake in DeFi projects out there but I like the idea and I think it will get better from here.
I don't see it as a trend that will just be here for a while and vanish after some time.
From the above projections of DeFi survey 48% thinks it will take 3-5 years to reach adoption, which is fairly reasonable. I will personally be giving it a plus 5 years time, DeFi needs ease of use, the complexity surrounding it now needs to be worked on which I think it will. What I have come to know in this space is developments is constant and fast.
Give crypto ease of use, give DeFi ease of use and we will be fast approaching adoption. I do however, think there is more to DeFI than just a trend.
Cheers.
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Many thanks @vlemon 🙂
Great post, I think in two to three years DeFi will come out with something stable, audited and unhackable. There are protocols like Nexus Mutual that offer insurance to your funds to ensure against hacks or any loss of funds. That way you can invest safely and confidently into protected liquidity pools and earn interests better than what banks can offer you.
Thank you for sharing and enjoy an amazing Thursday ahead :}
Insurances to funds is quite good, more of such offers will win confident and push towards adoption in DeFi. Thanks for your input bro wishing you a great Thursday.
Hello dear friend @joetunex good night
I appreciate very much that you shared this information, it only remains to wait to see what happens in the last remaining months of the year.
Have a wonderful night
At least we have an action that is like watching a good movie.
☺ keeping us entertained