The next big step for DeFi
As a professional translator, I will translate this news article into English in a descriptive tone while ensuring accuracy and coherence of the sentences. Here is the translation:
DeFi’s next big step is to build a user-friendly experience similar to web2. Coinbase Smart Wallet simplifies login and gas fee payment. Fuse streamlines creating personal smart accounts on Solana. Infinex offers chain abstraction, DeFi opportunities for crazy returns, and Pendle ranks in the top 5 DeFi protocols by TVL. B2 launches, Polygon introduces a community grant program, and Solana Labs unveils an enterprise customer loyalty program. Lido partners with Symbiotic for the “Restaking Vaults” project, Optimism launches permissionless fault tolerance, Massa Labs introduces decentralized DNS, and Arbitrum proposes upgrading Ethereum Rollup. deBridge launches an OTC platform for DeFi, Wormhole releases $W token staking, and Binance Labs invests in Ethereum L2 project Zircuit.
The current on-chain user experience is poor, but there are many highly scalable blockchains and interesting on-chain dApps worth trying. The next logical step for DeFi to achieve mass adoption is to build UX solutions that bring a user-friendly experience similar to web2 on-chain. Excitingly, some of these solutions have begun to emerge in recent months. I have tested some of them in the past few days, and today I want to introduce the most intriguing new on-chain user experience solutions I have found.
Coinbase Smart Wallet simplifies the login process, making it a great product for user experience. It allows easy login using fingerprint, facial recognition, or Google Chrome profile access. It also has the ability to represent you in paying gas fees, supports batch transactions, and integrates with Coinbase accounts for transaction payments using Coinbase CEX account balances.
Fuse, the first smart wallet on Solana, simplifies creating personal smart accounts on Solana with just a few clicks and offers interesting features such as gas abstraction, spending limits, wallet recovery, and an intuitive CEX-like user interface. Fuse aims to be a web3 savings account rather than focusing on ecosystem integration like Phantom.
Finally, let’s talk about Infinex, a user experience layer project created by the creator of Synthetix. Infinex revolutionizes the game in terms of user experience with chain abstraction functionality, making cross-chain transfers effortless and eliminating the complexity of bridging processes. Infinex also plans to have many in-app collection features, but it is currently in the mainnet testing phase with few integrations.
These are the three new user experience solutions I want to talk about today. While we are still in the early stages of mass adoption of DeFi, the development of projects like Infinex, Fuse, and Coinbase Smart Wallet makes me optimistic about the future. DeFi has provided crazy return opportunities, which TradFi investors dream of. The goal now is to make DeFi accessible to everyone. Pendle, a leading DeFi protocol, has become one of my favorite DeFi projects, and I expect its continued growth as long as its team continues to integrate popular protocols that provide attractive yield opportunities.
Stay tuned for more developments in the DeFi space!
The DeFi Investor