Defi projects give Western investors a rare chance
to enter the trend ahead of Chinese
 |
| Defi projects give Western investors a rare chance to enter the trend ahead of Chinese |
The decentralized finance (Defi) project phenomenon that has swept the Ethereum space and the broader cryptocurrency industry in recent times has yet to catch on in China. This opinion was expressed by the partner of the Primitive Foundation Davi Wang.
Wang notes that traditionally, it is in China that cryptocurrency trends gain popularity before spreading to the rest of the world. This was the case, for example, with mining using transactions, which led to the rise of the Fcoin and MTX exchanges and the corresponding tokens.
Defi, on the other hand, has its origins in the Ethereum space, which itself is not overly focused on the Chinese community. The situation is different with EOS and other "local competitors of ETH", which are actively promoting among local traders. The problem of the "Chinese oligarchy" accompanies EOS from the very beginning, where most of the block producers are controlled by players from this country.
“As such, the popularity and awareness of Defi among cryptocurrency users and traders in China is relatively low,” Wang writes. "Defi farms are mostly in English and require a fairly deep understanding of the space, while in China" user-oriented and foolproof internet products "are being created, more focused on retail investors."