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.
Ethereum is like a popular brand and the new ecosystem with the same activity for cheaper fee actually may look cheap to them or they are not even aware of their existence. For me Defi itself is not even a good investment because it was actually proposed for its utility now everyone just see from the returns perspective so anything may happen at anytime, and now the bear market also began so we can see what are the systems can withstand until the next cycle.