DeFi TVL will boom after the merge, and here’s why:
We’ve already established that the merge itself won’t make gas fees any cheaper on Ethereum. In fact, gas will never be cheap on Ethereum itself since Layer 2 solutions will be the ones responsible to scale Ethereum. However, the merge is the first step before Ethereum starts developing sharding and that’s where we’ll start seeing real scalability on Ethereum through Layer 2 and data availability solutions like Polygon Avail and others that are being developed. How does this affect DeFi TVL you might ask? First, lets talk about DeFi and CeFi before answering that question Well, one of the major drawbacks to using DeFi is that it can get extremely expensive when comparing it with CeFi. CeFi platforms have always been known for having minuscule fees and way faster transactions in comparison with DeFi so a lot of people feel more compelled to use it. This is all of course at the expense of your privacy and identity considering that the cast majority of CEXs need passports and facial ID. Back to the question. How does the merge (and by extension, sharding) affect DeFi TVL? With the merge enabling the development of sharding, the DeFi space will become WAY more efficient. I’m talking thousands of times more efficient. Gas fees will basically become negligible. In fact, we’re already starting to see a boost in DeFi TVL, especially on EVM compatible commit chains like Polygon after they passed Solana and Avalanche with DeFi TVL. And what’s great is that these current numbers will be considered nothing a year or so from now. The TVL compared to that of today will be unrecognizable. This is all great news for the crypto community as a whole because DeFi is the essence of crypto. If we keep giving power to CeFi and CEXs then the concept of crypto will eventually disappear.
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