Defi promised to democratise access to finance, eliminate middlemen and provide greater control and autonomy to individuals over their own financial assets and activities.
Numerous CeFi bankruptcies have taught a harsh lesson to a whole new cohort of degens: “not your keys, not your crypto.” These bankruptcies have also highlighted the UX issues that plague DeFi and lead users to centralized alternatives in the first place. Even your crypto heroes rug you, the latest narratives and your bags.
For those brave enough to venture “on-chain,” a minefield of interface complexity, rug pulls, unstable stablecoins, smart contract risk, and manual execution 24/7, 365 days a year awaits. Not to mention the painful cross-chain experience. One wrong click, and poof — it’s gone. With every new use case introduced, it’s almost fractal; as if we were nearing the citadel but never actually reaching it with UX road mapped but never shipped.