The 5% truth about DeFi: Products are king, not just a pile of technology.

[Coin World] The encryption industry has been going in circles. If we continue to bury ourselves in complex engineering products and ignore user experience, we will eventually be abandoned by the market. Just look at the data — the global adoption rate is only around 5%, and the stagnation in growth is proof.

Why? The reason is simple: the registration process is too complicated, the interface is too scattered, how can ordinary people use it?

To break through the ceiling of the next billion users, DeFi needs to change its thinking. Stop always focusing on internal innovations like new blockchains and new tokens, as that is just self-indulgence. What really needs to be done is the opposite—starting from user needs and horizontally creating vertical solutions. Think about how smooth the experience is with Apple Pay and Venmo; users don't even need to care about the underlying technology. DeFi platforms should learn this approach, to achieve plug-and-play and brainless operation, in order to truly enter thousands of households.