DeFi Remains a Mystery to Most

Despite the increasing popularity of web3 and NFT, DeFi remains largely unknown to the public. DeFi stands for decentralized finance, which is meant to be the “new era of finance”. Recently, a three-level breakdown of terms related to DeFi was created in order to gauge people’s understanding of it. Unfortunately, it appears that most people are still confused about what exactly DeFi is and how it works. The complexity of the system has been cited as one of the main reasons why it has not yet become mainstream. Even those who have tried to understand DeFi often find themselves lost in its intricate web of terminology and concepts. Furthermore, many are concerned about potential security risks associated with using such an untested financial system. Despite efforts by some organizations and individuals to educate people on DeFi, progress has been slow due to its complexity and lack of public awareness. As a result, only a few experts have managed to truly grasp the intricacies of this new technology and use it effectively. Unless more effort is put into making this technology accessible for everyone, it will remain out of reach for most people – leaving them at risk from potential scams or other malicious activities associated with this emerging technology.