DeFi Needs to Be Simpler for Wider Adoption, Uniswap Survey Suggests

Adoption Uniswap
Last updated:
Author
Author
Fredrik Vold
About Author

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: AdobeStock / Dennis

Decentralized finance (DeFi) protocols should be simplified for users if adoption is to grow, a survey from the team behind the Uniswap decentralized exchange (DEX) has suggested.

In a report that summarized the survey results, Uniswap called DeFi an “objectively simpler, more accessible tech stack for financial markets.”

“DeFi is transparent, self-custodial, and runs on publicly verifiable code instead of middlemen who oftentimes are more interested in profits than consumers,” it said.

However, Uniswap also noted that although DeFi in ther eyes of crypto-natives is simple, it is still “as unfamiliar to the average person as the internet was in the 1990s.”

“Bridging to L2s feels like dial-up networking and exploring Etherscan parallels surfing the web before search engines.”

To address this gap in perception among people, more and better DeFi education is desperately needed, the team said.

Half of non-DeFi users want to experiment

In terms of the specific survey results, Uniswap said the most encouraging finding was that nearly half of the respondents were motivated to experiment with DeFi in the next 12 months, despite the bearish market conditions seen over the past year and a half.

Secondly, close to 30% of the respondents who have never before used DeFi said they would like to try it so they could buy a specific token, while a similar number of respondents said they would use it so that they can hold their tokens or keys in their own possession.

Source: Uniswap

DeFi complexity remains an issue

But although many users of centralized finance (CeFi) services – in other words non-DeFi users – said they would like to try out DeFi, the perceived complexity of DeFi is still a problem.

To overcome this, most non-DeFi users said better education and improved user support services is needed in DeFi.

“The entire industry now must work to help educate users about how to use DeFi and the benefits of self-custody. These resources can have a measurable impact in helping users build their knowledge base and grow their confidence,” the Uniswap team cpncluded their report by saying.

The need for better education in DeFi was also highlighted on Twitter by a Uniswap developer with the handle @0xTyllen:

1,860 people participated in the survey, with respondents closely reflecting US Census Demographics, according to Uniswap.

Source: Uniswap

More Articles

Price Analysis
$TRUMP Pumping Over 20% This Week: Presidential Memecoin Back for Good?
Arslan Butt
Arslan Butt
2025-02-15 15:26:50
Price Analysis
Study Predicts Bitcoin Surge to $1M by Early 2027: Is That Possible?
Arslan Butt
Arslan Butt
2025-02-15 14:45:43
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors