Coingecko, an industry-level crypto analytical service, has unveiled the results of a recent DeFi survey addressing the social impact and economic role …
Decentralized finance is one of the fastest-growing areas of blockchain, albeit very controversial and subject to hacks of all sorts. The Coingecko crypto analytics vendor conducted a survey of 694 people in March 2020 to find out which trends characterize the current landscape of this sector.
First of all, the Coingecko survey unveiled that the DeFi sector is rather male-dominated. Only 9% of women have heard about DeFi. For the male population, this number is an order of magnitude higher.
Stablecoins, an entry ticket to DeFi
Coingecko experts found that 74% of crypto users familiar with DeFi own at least one stablecoin. Only 37% of the stablecoin holders have ever heard about DeFi. This means that they use stablecoins for trading on centralized exchanges.
High brand awareness, low usage
The survey also unveils that the brands that gained popularity in the ‘pre-DeFi’ epoch remain the most recognized. The MetaMask in-browser Ethereum (ETH) wallet is a textbook example.
Banks on borrowed time
The most inspiring conclusion of the survey is the fact that 91% of respondents familiar with DeFi are ready to cease using banks for operations either completely or for a portion of their transactions.