The future of DeFi

DeFi or Decentralised Finance has been around since early 2019. From 2019 to 2023, the market has grown from $1 billion to $100 billion today and it still hasn’t stopped growing. What do you guys think about the future of DeFi? Will it be able to replace CeFi or Centralised Finance someday?

Yeah. With the level of growth, I think it stands a chance. But what I am still skeptical of is if centralized finance would be completely fizzled out

whats the Marketcap of Defi at the moment ? is it still 100B ?

Although decentralization is a part of our lives, I do not think it will completely replace centralization. Although these concepts seem to contradict each other, they can actually exist in harmony. The important thing is to maintain balance. Both have advantages and disadvantages, so it will always be good if they exist in harmony.

DAO’s like onyx protocol holds the success of DeFi in long term because most of the other DeFi projects are centralised like traditional finance

While the road to overtaking won’t be that smooth, the future of Defi is promising and Dynamic!
Decentralised autonomous community ( DAO) Like we have in Onyx will play a vital role!.
We keep improving .

It ~$92 billion at the moment. You can check the numbers here

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Defi has permeated many parts of our lives. As time goes by, it will continue to remain in our lives in a much more solid way, taking its roots deeper. Future DEFI

Centralized finance cannot end completely. Just as governments cannot function without centralization, monetary systems must at least be centralized.

Onyx protocol continues its path in a fully decentralized manner. The value of the Onyx protocol will be better understood over time. Wait for your time.

if govts will not be too harsh then yes it can be future of finance

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Yes, the government has a part to play towards its mass adoption.
It’s good to know that a lot of countries are beginning to explore blockchain technology and some use cases

dont expect too much from them . it will hurt otherwise

Of course, we should not forget about government’s policy. If it doesn’t favor crypto then there would be a set back in that region.

well if you will jusy pay fine everything will be fine . classis rule :zipper_mouth_face:

also Defi projects should build more trust among users . its not only fault of govt. some projects are also cheating people .

There are many projects that claim to be decentralized but are centralized. and they’re just fooling people who don’t have much knowledge. It is possible to separate them with a little fundamental analysis. Platforms like Onyx are not always available, this is a fact.

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Even now, this situation exists in many regions. People are restricted because of governments, we need to overcome governments

yup . those who dont follow what the community ask through votes are not centralised

We can call governments cancer cells as long as they stand in the way of decentralized finance. but Decentralized finance will defeat Governments