I agree with Michel but I have some reservations. Yes, it’s hard for defi to compete with no risk holding through governance. However, I am in governance because defi has so many problems. Mainly, they get hacked a lot. I’ve invested a lot of money in Algorand and to think that an error in a smart contract could wipe me out is just unacceptable,
Frankly, it’s a big ask when you consider the poor price action algorand has delivered thus far. It’s a catch22. People, are in fact holding and not taking risks.
What I want to see and what I want to feel is certainty.
If you want people to participate in defi, you have to foster a space that can be trusted. Stop verifying ASA’s that are rug pulls. KYC should be mandatory for verification. Until that happens there is no way in hell I would ever participate.
That being said, I love Algorand.