Uniswap has undertaken an enormous exercise in conducting a detailed survey regarding users opting for DeFi more than CeFi. As per their findings, a lot of interlinked matters have come to the forefront. They have understood that an enormous number of CeFi users are inclined towards DeFi but are restricted by the technicalities involved. The need of the hour for them is basically educational material, as well as better UX and proper backing.
Where DeFi is concerned, it is a more simplified and better-connected tech stack in terms of the financial market. It comes with clarity, as well as it is self-custodial, and it operates on publicly authenticated code. Yet, the fact remains that it is extremely confusing for the general user.
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On the other hand, centralized finance (CeFi) platforms make the situation more convenient for newcomers with their provision of content and onboarding facilities. However, there is every chance for a mishap due to the CeFi products not having the required clarity, as well as accountability, as in the case of FTX and Voyager. As per the company’s survey, they found that half of the CeFi users seem to be more inclined towards a shift to DeFi. They were also able to gather that the prime reason for them hesitating to take the step is the complicatedness, as well as lack of adequate knowledge and the high-cost factor.
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In order to be able to adequately address these concerns, Uniswap Labs has set up professional customer support teams in crypto. This has been carried out with the intention of being able to provide the necessary guidance that is required for using DeFi and also understanding the many advantages of self-custody. They are also involved in creating the required tools for the benefit of crypto-inclined users, be it a wallet, buying crypto, swapping tokens, or simply purchasing NFTs.
