DeFi Year-to-Year: Is Mass Adoption There? Experts’ response, part 2

Sameep is the founder of QuickSwap, a decentralized exchange on Polygon that allows users to trade, earn, stack returns, lend, borrow, and profit, all on a decentralized, community-based platform. .

“My answer here will be similar to the previous one. Absolutely – in 2020 and 2021 DeFi has seen massive growth. More and more people have realized the importance of making their money work for them. Institutions and retail investors started betting their crypto to earn more, but as more people (and bots) started using various blockchain networks, these networks became congested and the expense gasoline (on some of them) skyrocketed. These rising costs then made the barrier of entry too high for those who only have small amounts to work with.

Much like cryptography itself, for DeFi to continue to be adopted, big-name trusted protocols must be launched on side chains with low transaction costs, like Polygon. We’ve already seen several behemoths like Aave and Compound arriving in 2021, and they’ve brought a lot of cash and users with them. As more and more big players embrace interoperability and operate across multiple chains, gasoline costs will drop across the board, giving more people the opportunity to embrace cryptocurrency and DeFi.