Automation opens up pathway to a simplified, more user-friendly DeFi
Few doubt the potential that DeFi has to redefine crucial aspects of finance for all. But, as it stands, using DeFi platforms and protocols is often time consuming and anything but easy.
One of the biggest draws of DeFi are the yields users can earn on farming and staking protocols. However, the yields on offer are constantly changing, meaning crypto enthusiasts need to stay locked to their screens to ensure they aren't missing out. Given the 24-hour nature of this fast-moving industry, keeping on top of things is often easier said than done.
Some protocols are also pretty difficult to use, requiring users to monitor a plethora of different pools. And even when you find the best returns that the market has to offer, the process of manual compounding can be quite tedious.
In search of growth, DeFi traders often have to switch between different blockchains and delve into pools that lack liquidity. Not only can this be pretty expensive once transaction fees are accounted for, there are safety concerns to consider too.
Given that part of the push behind decentralized finance is bringing money into the 21st century, one has to ask: Why isn't this sector more automated? Where are the tools that can do all of the heavy lifting on the user’s behalf? And if aggregator sites can scour the market for the best deals on things like car insurance and flights, surely there can be one keeping track of DeFi too?
Now there is — and it's saving crypto enthusiasts a lot of time and energy. This means they can focus on the things they're truly passionate about. Better still, it's a tool that's ripping down the high entrance barriers that have undoubtedly put off some tech-savvy consumers from getting involved in the first place.
Earlier this year,
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