There are a couple of reasons why DeFi is failing to attract a lot of users and one is the fact that it feels so complicated from the smallest things like creating a wallet to funding it, and funding a wallet can be super difficult considering one has to have broad knowledge of how crypto networks work so as not to deposit a different asset in different or unsupported network.
The UI of some of these DeFi projects are just as confusing, no tiny hints to let people understand what they are dealing with, just a stupid frontend with an action button to connect a wallet and that's it, crazy innit? This all affects how normies engage, the system is built by default to serve the already informed on how crypto, blockchain and smart contracts platforms work, but to experience growth, one has to target the timely new customers.
Simple DeFi
You probably never heard someone use these two words before, well that's because nobody knows it exists, literally. Simple DeFi refers to a structural framework that allows an individual to build up his finance through deposits for safe keeping, deposits for investments and regeneration of income and deposits for interest earning.
The simplicity with this structure is in how there aren't any complex structures to deal with and also the availability of little tips to understand how this works.
An example of this is Hive.
As an individual, there's the option to buy Hive, deposit it and leave it there for as long as they want, most commonly as a hedge if one believes Hive can play that role. They can also decide to power it up to earn from curation rewards and the witness voted Apr for staking Hive.
The last and most powerful option is HBD savings, which I personally look forward to leverage possibly after the next bull market. HBD is where the low risk yield in DeFi is. Simply lock up and earn a whopping 20% interest with low counterparty risk, this is the simplified form of DeFi, so even though some believe there has to be a load of smart contracts and shits to make it DeFi, that really isn't the case.
DeFi in its very basic form was bitcoin, building financial products around it was going advanced on the technology. The problems this advance DeFi faces is that the markets aren't really educated enough to leverage it to the fullest, most DeFi liquidity are higher centralized yet the same assets leveraged to earn yields aren't really centralized in supply, why is that?
People want simplicity and power, Bitcoin is that simple when compared to other emerged technologies, this is why many stick to it and others not being able to comprehend the value and potential of the other structures believe the rest of the ecosystem is not worth the risk.
Well, they may be wrong but we made the entry difficult and this is why many kept off. The more advanced yet simplified with informative hints we can make crypto structures, the higher chances we have at climbing up to mass adoption.