Quote from: nageta on Today at 10:38:38 AM

DeFi is a financial system that is built on blockchain technology and does not rely on centralized intermediaries. This means that it is more transparent, efficient, and secure than traditional financial systems.

Do note that in some cases, the so-called DAO might control the majority opinion. For example, when Solend, a defi platform on Solana, is doing a hostile "takeover" of some account[1].

[1] https://cointelegraph.com/news/what-decentralization-solend-approves-whale-wallet-takeover-to-avoid-defi-implosion

Quote from: nageta on Today at 10:38:38 AM

For example, DeFi protocols can be used to create synthetic assets, which are assets that are not backed by any physical asset. This allows for more flexibility and innovation in the financial system.

Personally, there is nothing special about synthetic assets other than an IOU.

Quote from: nageta on Today at 10:38:38 AM

Another benefit of DeFi is that it is more accessible to everyone. Traditional financial systems are often complex and difficult to use, but DeFi protocols are designed to be easy to use for everyone. This means that anyone with an internet connection can participate in the financial system.

Touting convenience and accessibility toward cryptocurrencies products is exerting ignorance. What about the unbanked? Also, the user who did not have digital savviness and its literacy were below average. Managing and securing seed phrases is tricky enough for them. Besides, they could be an easy victim of scams.

Any defi products are indeed built with ease of use in mind, but the reality, it is not there yet. In a lot of margins.