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.
It's caused by TVL is still being concentrated in ethereum DEFI. The majority of demands are still in ethereum defi. You will never able to use this defi with small fees, faster transaction and better APY but when you're moving to the defi outside of ethereum ecosystem and you may able to find that just like pancakeswap on BSC.
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.
People are following the demand. Basically, they are using the platforms that used by so many people. It's about demand and trust. it doesn't have correlation with technical specification of blockchain.