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32% of Blockfolio users don’t know about DeFi

August 17, 2020

Despite the growing number of DeFi projects (decentralized finance) People still aren’t sure what exactly DeFi is, according to a survey by portfolio tracker Blockfolio.

The survey conducted on its Signal product asked about user levels of engagement with DeFi. He received 8,897 votes, with the 32% of the respondents answered that they don’t know what DeFi is or they have no stake. Those who said they were curious and wanted to learn about DeFi were 39%. Only 10% of respondents said they get high yields from farming and 19% are new to DeFi but have tried.

The results of the survey by Blockfolio contradict the belief that the rise of DeFi projects is due to the fact that more and more people know about them. Despite the ignorance of many, DeFi is growing and leaving a niche market this year. DeFi also hit a record high, reaching a value of $ 4 billion.

32% of Blockfolio users don’t know about DeFi32% of Blockfolio users don’t know about DeFi

DeFi development is seen as one of the most important tasks facing the crypto industry. And while DeFi projects keep popping up, it seems that way More education is needed to explain what this is about.

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