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$<), almost instant transactions, and great APY for farming liquidity.
I would say most of the people in here that are actively trading cryptos know about the fact that there several other chains out there nowadays and that a lot of tokens are not only available on the ethereum network anymore but also on BSC, polygon, Solana and others. I also try to bridge my erc 20 tokens slowly but surely to the other networks because i am just a small fish and therefore it is just not making sense for me to pay 50$ of eth gas fee if i make a swap that is worth 60$ or so. Still ETH was the first mover of that whole smart contract thing and it really deserves praise for that.