With decentralized finance (DeFi) being a hub for various hacks and exploits, some may feel discouraged or wary of entering the space. However, professionals within the crypto space are confident that DeFi will have broader adoption in the future.
From educating institutional investors to eliminating user experience barriers for retail investors, Web3 executives shared their thoughts on how broader DeFi adoption can be achieved.
Speaking to Cointelegraph, Anton Bukov, the co-founder of 1inch Network, believes that recent events in centralized finance (CeFi) have highlighted the importance of DeFi. The executive believes it’s just “a matter of time” before the financial system switches to Web3 solutions. In terms of institutional DeFi adoption, Bukov noted that it’s essential to have a deep understanding. He explained that:
“The key to DeFi adoption among institutional investors is a deep understanding of transparency benefits, trustless approach and self-custodian technologies.”
The executive also gave advice to DeFi projects in terms of security issues. According to Bukov, performing security audits is of utmost importance. “My advice to any DeFi project is simple – don’t be lazy to do several security audits before releasing any…
