Oasis.app, a leading decentralized finance protocol, has released its highly anticipated ‘State of DeFi Report 2023.’ This comprehensive report, available on May 20th at https://stateofdefi.org, offers a deep dive into the ever-evolving landscape of decentralized finance. Based on the State of DeFi survey conducted in January 2023 with 330 respondents, the report provides invaluable industry trends and analysis for investors, developers, and decentralized finance enthusiasts.
What Is The Report About?
At the core of the DeFi and crypto community ethos lies the commitment to creating user-centric applications with transparency, composability, and permissionlessness. The ‘State of DeFi Report’ serves as a vital tool to gain deep insights into the preferences and expectations of DeFi users, empowering Oasis.app to enhance the ecosystem with best-in-class products.
What Are Some Key Insights?
The ‘State of DeFi Report 2023’ reveals significant insights into DeFi user behaviors and preferences. It finds that DeFi tokens, BTC, ETH, and USDC, dominate portfolio composition, with 54% holding DeFi tokens, 45% allocating to BTC and ETH, and 67% focusing exclusively on ETH. Security, control, and trust emerge as top priorities for managing crypto assets, with 58.4%, 49.4%, and 42.4%, respectively. The report highlights decentralization, asset control, and new coordination structures that drive DeFi adoption. Blogs, Twitter, Discord, and podcasts are primary channels for users to stay informed. Community engagement, personal networks, and word of mouth are crucial in raising DeFi awareness. However, unclear risks and trust barriers hinder wider adoption. To address these concerns, the report recommends small experiments, educational resources, real-time monitoring, and data-driven insights to enhance user confidence and trust and adopt DeFi features.
What Improvements Can Be Made?
The ‘State of DeFi Report 2023’ identifies five high-priority improvements for a seamless DeFi onboarding experience. Simplified user interfaces, intuitive design, and enhanced educational resources enable effortless navigation and bridge the knowledge gap. Robust security measures, including multi-factor authentication, smart contract audits, and insurance options, protect user assets and instill confidence. Real-time monitoring tools track portfolio performance and mitigate risks proactively. Collaboration and interoperability among DeFi protocols and platforms enhance composability, enabling frictionless utilization of various DeFi services. By prioritizing these improvements, the DeFi industry can create a user-friendly environment, encouraging broader participation and unlocking the full potential of decentralized finance.
About Oasis.app:
Oasis.app is a platform for decentralized finance. It can be used to borrow Dai against users’ favorite cryptocurrencies, increase exposure against them using multiply, or earn a competitive yield — all in one place. Oasis.app’s mission is to provide the most trusted entry point to deploy capital into DeFi. The team is made of passionate thinkers and builders driven to create a better user experience for all while being able to maximize returns.
For more information, visit: https://oasis.app/
Oasis.app PR Contacts:
press@oasis.app
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