Decentralized finance has exploded in popularity over the past year and many analysts have pointed to the 2020 ‘summer of DeFi’ as the primary catalyst for the rallies seen in Ether (ETH) and Bitcoin (BTC).
In the beginning, investors were able to easily secure 4-digit annual percentage yield (APY) on an almost endless number of attractively priced assets on Uniswap but the increased activity on the Etheruem network eventually led to unsustainable spikes in gas fees and serious network congestion.
These skyrocketing gas fees have priced out the average retail investor from participating in even the simplest protocol interactions like token approval or staking. The current Etheruem proposals do not provide an immediate solution to these issues and this has motivated investors to look for non-Ethereum-based networks that offer yield farming and other DeFi opportunities.
Average Ethereum gas price. Source: Etherscan
With no simple network-wide solution to high ETH fees planned in the near future, it is worthwhile to explore some of the other options available onTitle: WINk (WIN) soars as retail DeFi investors flee high Etheruem gas costs
Sourced From: cointelegraph.com/news/wink-win-soars-as-retail-defi-investors-flee-high-etheruem-gas-costs
Published Date: Sat, 27 Mar 2021 17:12:30 +0000