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DeFi Institutional Adoption Is Exploding, But Gas Fees Are Stifling Development

By Kenny S - Cryptocurrency Enthusiast - 15-04-2021

Panelists present at the BlockDown event talking about DeFi and the past and potential development of decentralized finance but pointed out the barriers to adoption caused by Ethereum (ETH) congestion. Despite many investors who buy Ether because it's the second most popular cryptocurrency under Bitcoin (BTC), and because there is a large amount of congestion, it can make it more difficult for more people to accept crypto buying.

Anton Bukov, co-founder of 1inch Network, Ajit Tripathi, head of institutional business at Aave (LEND), Hyung Lee, CEO of B.Harvest, and Eric Chen, co-founder of Injective Protocol spoke on the panel named “DeFi's newest waves.”

Bukov described the trending crypto trading cycle as slightly more mature than previous trends, like in 2017. Tripathi agreed with Bukov, noting that the circle of cryptocurrency users has grown in recent months, talking about the new crypto whales, funds and family offices working with Aave.

Tripathi observed some trepidation in some of the prospective entrants. Furthermore, legal restrictions can make it difficult for institutions to deploy capital to DeFi. Custodial options are beginning to emerge for them:

“What we've started to see is more and more delivery of DeFi through custodial interfaces, through fintech.”

As a representative of the Cosmos (ATOM) ecosystem, Lee concentrated on the opportunities provided by linking liquidity. He assumes that the next stage of DeFi interoperability will be for more complex use cases than token transfers, which are allowed by the Inter Blockchain Communication protocol.

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