Hi everyone, I would like to hear your opinion on why a large number of people continue to use DeFi of Ethereum, if it is possible to use the DeFi of other ecosystems with lower fees, faster transaction speeds and better APY for farming in DEXs.
Just to give an example, if people use Aurora (EVM that runs on NEAR Protocol), they will get really cheap gas (0.01$<), almost instant transactions, and great APY for farming liquidity.
Well, am just as curious as you are, but my guess is that -
1 - the high gas cost on the Ethereum blockchain for transaction confirmation isn't a problem at all for this set of guys.
2 - in as much as there are several other options out there, there are people who don't like trying out new stuffs when the old one hasn't failed them in any way, Ethereum blockchain is an outstanding blockchain that I don't think any other can ever supercede in terms of legacy, Ethereum also have a lot of developers and loyal community members, Ethereum has written its name in the sand of time and I think it can never be forgotten, no matter how high the fees get , there will be people who will continue building on it.