The true meaning of DeFi has started to become lost. In light of recent events, it's become apparent that web3 still has so much more to grow. CeFi has taken a hit that may become too deep to climb out of. It's time to recapture the true meanings of DeFi and return the focus back onto delivering what is suitable for the industry.

Why?

The answer is simple. DeFi was heavily focused on TVL and onboarding wallets at the expense of innovation and growth for the entire space. A volume-first, user-second approach has halted months of progress for DeFi. As a result of mediocre UX, heavy reliance has formed onto CeFi to fill the jobs of both, and with a lack of education to the masses, we now find ourselves 2 steps back. 

As a collective, we need to begin our shift away from ‘selling the tech’. The mass onboarding of users will come from almost ‘selling the frontend’. Let's take a step back and begin to put our feet into the shoes of the users when creating and pushing new products. We can begin the process of redefining the narrative away from scams and rugpulls, while reaffirming the positives that DeFi and Web3 as a whole can provide for the greater good.

Human attention span has only decreased with the advancement of apps like TikTok and even youtube shorts, therefore, every second is vital while attempting to onboard new users to your platform. The first 30 seconds that these interact with the frontend could ultimately be the deciding factor as to whether we retain these users, or not. 

Touching base on a traditional web2 perspective, you, me, or anyone in the general population of users aren't worried, or focusing on whether AWS is powering the back end or how fast a click is processed. The industry standards have been long-standing and web3 needs to progress with the approach of the consumer mindset, rather than trying to redefine what the consumer mindset should be. 

If we now look at this in a web3 perspective, the speed and connectivity of blockchain has become a norm, rather than a selling point. As we advance, consumers won't need to and even possibly not want to know who is powering the product they're using. Blockchain interoperability is the way forward to allow the focus to shift to the users. At the point our industry reaches a consensus on the most secure and robust way for all the chains to interconnect on different layers and levels, the possibilities become endless and the adoption will begin in the way all Web3 users dream of. 

We still have a long way to go, but the new wave of DeFi must become entirely user-centric. As builders we must continue to uphold the core Web3 values of a secure, trustless network where the user is 100% in control of their assets, while also looking to redefine and improve processes not to make it ‘web2 vs web3’, but a functioning ecosystem that is too good for traditional systems to ignore. 

Now the question is, how is Bridge Network helping carry the baton?  

Two words, interoperability & DeFi. Every day is a new day to push the boat of interoperability further. Blockchain can become intimidating to new users, especially having to use multiple chains, the fear of moving your assets to these new chains, and the doubt in your mind, ‘are my assets safe?’. 

The bridge is becoming a key piece of critical infrastructure in the multichain world. Catering to experienced as well as new users. Cross-chain interoperability will become accessible for everyone, straight from the power of the users' fingertips, whether they are directly or indirectly know this is happening.  

With Bridge, DeFi means DeFi. We are powering a new standard of web3 payment solutions. With the introduction of Bridge Pay, users will have access to a never before seen payment platform where the user is in control. By tackling a user-first approach, the journey truly is A to B. There's no prerequisites of signing up to a third party to deposit funds, swapping the chains of your assets or forced liquidation. The power of DeFi is at your fingertips and readily available to be used in the real world before you even know what you will purchase! We do the hard work, so you don't have too. 

Bridge Pay is a product designed for everyone and will open the doorways to a new wave of DeFi all over the world, allowing you, the user, to truly take back control of your digital assets.