DeFi Platform Still Too Complex Finds Uniswap Labs Survey

1. Uniswap Labs surveys over a thousand CeFi users to see their interest in DeFi.
2. Studies reveal that the majority are eager to try DeFi platforms but lack the expertise.
3. The DeFi exchange stresses the importance of lowering this barrier with simplified tools.

Uniswap Labs recently conducted a survey that reveals the skepticism of crypto users with DeFi products. Specifically, the research points to the fact that most users are still concerned by the lack of simplicity that comes with DeFi platforms.

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According to the tweet above, the survey reveals the biggest concern for crypto users afraid to venture onto DeFi platforms. To highlight, these users say DeFi platforms are more complex due to lack of understanding the technology.

In detail, the survey targeted US-based CeFi users. Therefore, it discovered that many of them express interest in exploring DeFi but require educational resources, improved user experience (UX), and support to overcome the learning curve.

Uniswap Labs conducted a comprehensive survey of US retail users, segmenting them into non-crypto, CeFi, DeFi, and hybrid users. The survey received 1,860 responses that were closely aligned with US Census Demographics. 

The key takeaways from the survey are that CeFi users display excitement to experiment with DeFi. Yet complexity and cost are perceived barriers for CeFi users. Lately, improved support enhances comfort with DeFi.

This is why Uniswap points out its long-standing take on creating simplified DeFi products to help crypto ease into the sector. Uniswap Labs stresses on the importance of deploying products that focus on designing applications that will improve user experience. 

For instance, the DeFi exchange platform believes in making products that abstract and simplify complexity. In particular to crypto, Uniswap expects DeFi products to help lift the barriers laid by transaction fees and costs.

Ultimately, Uniswap Labs is dedicated to developing practical tools for both crypto-native and crypto-curious users. The insights gained from surveys like these enable industry players to better understand their customers and guide their future development efforts. 

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