The world of decentralized finance (DeFi) has become increasingly popular, with many people owning cryptocurrencies like Bitcoin and Ethereum. However, the complexity of DeFi tooling and ecosystems has made it difficult for most people to actually use their tokens for DeFi investments. This has resulted in many people leaving money on the table or even losing money due to mismanagement of their investments.
The complexity of investing in DeFi can be broken down into three parts: setup, tooling, and education. The setup process alone can be daunting for many users, as they need to navigate seed phrases, security hygiene, fiat onramps, gas fees, token allowances, and more.
Even if a user manages to successfully set up and fund their wallet, they may struggle to securely discover, enter, and manage complex DeFi strategies. This can lead to taking on unclear risks, sacrificing security and decentralization for convenience, or simply holding tokens without earning any yield.
Ultimately, the goal of most investors is to execute on their investing thesis, but the complexities of DeFi tooling and protocol interactions have made this process difficult for many. As such, there is a need for simpler, more user-friendly DeFi platforms that can help investors navigate the complexities of the ecosystem and make the most of their investments.
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