Despite major plans to allow Vietnamese farmers to access the world with global finance through decentralized financing, emerging markets can account for at least 10% of visitors using the best DeFi DApps.

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A new report from Defiant examines the five largest geographic traffic sources for the 10 best DeFi platforms after total blocked data in February with data provided by LikeWeb network traffic aggregator.

The analysis showed that eight of the 10 best DA apps from TVL dominate US traffic, and make up 10% to approximately 27% of the traffic to MakerDAO, Compound, Aave, SushiSwap, Uniswap, Synthetic, Bancor and BadgerDAO, respectively. …

The United States is also in second place after China in terms of traffic on the Curve and fourth in Balancer after Russia, Ukraine and China. The UK is the second largest traffic source for five DApps.

While the World Bank estimates that 1.7 billion people do not have a bank account, and that the SME Finance Forum points to a $ 5 trillion funding gap for small and medium-sized companies in emerging economies, data shows that people are not currently applying. to DeFi. Solve these problems.

One reason for the apparent imbalance between DeFi adoption in emerging and developed markets may be the high fees associated with the use of the Ethereum network after the DeFi bubble in the third quarter of 2020.

In just 39 countries, citizens earn more than $ 33.33 a day, according to the demographic website World Data. With gas fees associated with popular DeFi DApps regularly exceeding $ 50 and complex protocols that recently set gas fees above $ 1,000, the likelihood of spending more than a full day’s pay on fees related to the DeFi protocol test is likely to be a major deterrent to many living people. Emerging markets from studying the sector.

Traffic visiting Venus is dominated by emerging markets and is the best DeFi protocol built on the Binance Smart Chain which provides significantly lower fees compared to Ethereum. The main source of Venus traffic is Argentina (9%), followed by China, Turkey, Thailand and Peru.

While DeFi adoption appears to be slow in emerging markets, data from UsefulTulips shows that, with the exception of the US, emerging markets dominate Bitcoin peer-to-peer trading volume, indicating cryptocurrency adoption for payments in countries with weak financial institutions .

Source: CoinTelegraph