Blockfolio Survey – 32% of Participants Have No Idea About DeFi August 17, 2020 August 17, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 17, 2020 by Kelly Cromley

Blockfolio Survey – 32% of Participants Have No Idea About DeFi

A survey carried out by portfolio tracker Blockfolio indicated that general public do not have adequate knowledge about Decentralized Finance (DeFi) ventures, even though it is the buzz word currently in the crypto domain.

The survey, carried out through its Signal tool, questioned the stage of users’ involvement in DeFi projects. The query garnered 8,897 votes, with 32% of participants replying that they have no knowledge about DeFi and are not involved in any manner.

Around 39% of the respondents indicated their willingness to learn about DeFi. About 10% of participants stated that they are involved in high-yield farming. Finally 19% of respondents revealed that they are new to DeFi but possess the experience of investing in the sector.

The survey results contradict the perception that the boom in DeFi ventures is due to a large number of investors entering into the sector. In spite of the lack of awareness, DeFi continues to grow and segregating from niche market. DeFi also hit a landmark, reaching $4 billion in market valuation.

DeFi development is considered as one of the top priority jobs in cryptocurrency domain. While DeFi ventures continue to bloom, it appears that additional education is required for higher participation rate.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.