DeFi because of its non-custodial nature, better use experience, totality of transparency and borderless nature it solves problems regarding custody of funds, lack of transparency and restriction of financial services etc.
Since the financial crisis of 2008, the financial systems legacy processes have been called into question. It called into question the approaches that are at the heart of our economic system. After that, we saw the emergence of cryptocurrencies as an alternative means of exchange calling to question the ethics of the fiat currency, and how currencies are so vulnerable to the geoeconomics of their time and region.
Traditional finance does not work in a way that keeps the investor in control of funds at all times. They remain with the financial institution and they have full power to use that money at their discretion.
Traditional or centralized financial services are restricted by borders. In the developing countries, due to fear of capital flight, it is increasingly hard to use services offered in other jurisdictions.
As a layman, consuming financial services especially in a developing country is difficult due to the bad user experience around it. You have to interact with the legacy applications and a handful of middlemen. This costs fees and takes time.
Traditional institutions lack transparency due to obvious reasons, You will never know what they are going to do with the money you give them.
Decentralized Finance allows full control of the funds in the hands of the investor at all times. Whatever you want to do, you can do it without any cost. You only have to pay for the securitization of the Ethereum network.
Due to the power of cryptocurrencies, DeFi truly allows the usage of financial services from anywhere in the world.
In DeFi, you only have to pay for the securitization of Ethereum, which is a few dollars at most. Whether you want to send a dollar or a million dollars, that is all you have to pay.
Blockchain industry is lagging behind when it comes to a good user experience which does not result in loss of funds, but this is changing with increasingly better wallets being developed.
After we built the XIO Swap, there were 13 million swaps recorded out of the 25 million supply, and XIO holders are now 850. Each XIO token is of $0.009 and $117000 worth of XIO tokens were swapped from the XIO Token Swap bridge.
Currently, there are 9 portals. More than 60 beta testers are testing the application. People have staked and unstaked more than 500,000 XIO. Moreover, a staker earned more than $500 by staking his XIO, and more than $5000 of XIO have been staked and regulated through this app.
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