Welcome to Defi.

Defi seemed to be a great heaven back in 2021, easy money while trying to avoid mineland from different rugs & scams. Despite this Defi summer, CEFI aka Centralized Finance, still played an important role by attracting a significant amount of trading volume.t

Spot & Futures trading were, until summer 2022, completely lead by CEFI platforms. But what were their edges compared to DEFI?

  1. Easy on/off ramp
  2. Seamless user experience
  3. Large amount of available financial products
  4. Integrated Wallet

While Defi protocols were innovating in terms of tokenomics and business model, user experience was still behind, and not the priority of developers/project team who first looked for a product fitting the market.

However, the narratives started to change in 2022. With forthcoming regulations of CEFI platforms, Binance forced to close its future market in France, arbitrary decisions taken on user funds – non custodial by the way - together with the recent FTX collapse and resulting contagion, DEX volume surge to surpass CEX Volume for a while, and despite the current bear market, this trend tends to increase overtime as shown on Defillama website:

https://lh5.googleusercontent.com/ZRMyLsnSfk1B2AA4Qw6EdMMY-64dyHmri53LZDzSTM_iLLqUE6ZOORuiqgtlWEnYCWHi3uwGRK9ZxzmiAdpHsulmptdayvUnqKMCvlM5xuJe39NMFu0jwsGwMQANpFTJzKa268fBddjkIX0piOpLIVhZdyYGFxNryefaXEdudZo9jmPkh7DMKblXTH8VMcp4

https://lh5.googleusercontent.com/xfCBfLkzaNrxhE1mBjT0EU7iNacIrhqDFVaJG-KoKNlnMeGwkXbZsLTjDHj0YCieIPD9CQu3py8uQWFuANOY1xtFozJrIgpeEValILwBxq4MDG0SgLDZNH7fUO3ooKYO0AYpRgliIxYoRyPNVlOUEBs8U7OSP7BREYJsf0ja9r1J6W3CYYmAR51Qo8LKXEyD

To trade with leverage and easily short a position, futures market are available in a decentralized way using Perps Protocol, such as GMX, GNS or Kwenta (built on top of SYnthetix).

For Spot market, you can use all the different DEXes where you can buy/swap tokens. However, to find a similar user experience as Centralized Exchange (CEX) platforms, protocols are missing the very basic function: