If we ever want DeFi to go mainstream, L2s should be a major focus point for everyone.

NewOutlandishness663
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If we ever want DeFi to go mainstream, L2s should be a major focus point for everyone.

I’m saying this because DeFi is notorious for having high gas fees and long waiting times versus the very cheap and fast operations of CeFi.

Of course, with CeFi, you’re trading custody of your own coins for that speed and cheap gas which is extremely bad for the future of crypto as a whole.

Look at what SBF is pushing for example. It awful.

We NEED more adoption when it comes to DeFi because by the way I see it, if we keep up this pace then CeFi will soon take over.

This is exactly why I think L2s are critical for the future of DeFi as a whole. They are the only way for dApps to scale and thus gain more users daily.

We’re already starting to see a push in terms of development from L2s. DeFi has become extremely cheaper on them, especially with L2 like Loopring.

Other L2s like Polygon ended up developing an open source zkEVM has proven to be successful with developers using it to build more dApps in a much easier and cheaper way. You can see this with Polygon already having some of the major dApps like Aave, Uniswap, Curve, Aavegotchi, Decentraland, and many more.

We cant expand DeFi to go full mainstream if it remains expensive, and although we’re seeing A LOT of improvements in that regard, we still need to keep it up.

I think that the upcoming Ethereum updates to the PoS chain will definitely help and give DeFi a boost but ultimately, it is up to the L2s to find new and more advanced way to make DeFi cheaper.