DeFi Adoption Could Be Boosted by Three Features Indicated by Analyst Qiao Wang

Decentralized financial applications, or DeFi, are often criticized for too sophisticated interfaces and UI analysts and investors predict it may threaten adoption

article image
Cover image via

Researcher and angel investor Qiao Wang warns that the user experience (UX) of decentralized financial applications is too sophisticated for mass adoption. This fact could be crucial for the progress of the segment.

Wrong direction

Mr. Wang explained that the decentralized financial applications sphere is moving in the direction of complexity. Too complex and obscure instruments may deter retail users and slow down the adoption of DeFi. As a result, the engineers and marketers behind DeFi apps should reconsider their approach, in his view.

Instead of building "games for a small circle," app teams should switch their efforts to "banking the unbanked"building simple products and speaking with customers in a language that can be understood by average people.

Investor, analyst and advisor Dovey Wan, founding partner of Primitive Ventures, also highlighted the specific manner of DeFi adoption. According to Wan, "mass adoption" is nowhere in sight and this narrative should be avoided in the decentralized finances segment:

In Defi, instead of 'mass adoption,' maybe 'whales adoption' or 'ETH chad adoption' are better narratives for the community to set the expectation right.

To illustrate this opinion, she recalled that decentralized exchanges' net trading volume surged 70% in June 2020, while the number of users has collapsed.

Big paradigm shift

Some leading DeFis are already building more comfortable user interfaces to bootstrap DeFi's adoption by retail users. For instance, Yearn.Finance, the aggregator of DeFi liquidity and "yield farming" strategies, teased that a new interface will be released soon.

👉 MUST READ YFI DeFi Asset Surged 100 Percent in One Weekrelated article image

As covered by CryptoComes recently, Andre Cronje, the developer of Yearn.Finance, claimed that the new version will support LINK, LEND, REN, SNX and wBTC.

The native token of the Yearn.Finance aggregator, YFI, gained almost 10,000% in one week. On a local high, its price has broken above $4,000despite the team stressing that the token has no value and will not be listed on exchanges. Only the FTX derivatives trading platform offered YFI/USD contracts to let traders benefit from its enormous price performance.

Subscribe to on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

article writer image
Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)