I’ve been involved in crypto since 2017 using CeFi platforms but have just started looking into DeFi options. I’m too poor to use Ethereum so have been using a few Solana platforms, including Orca, Francium, Apricot and Solend.
For anyone who has used both Ethereum and Solana DeFi, what do you find to be the relative strengths/weaknesses? I’m trying to understand whether I’m missing out on anything being restricted to Solana (or other low-cost L1 chains).
Edit: Thanks for the feedback. For those who recommend other platforms, is this primarily because of lower yields or poor user experience (failed transactions, liquidations due to buggy oracles, etc)?
​
Neither. Ethereum by design is moving to L2, so you might check Arbitrum. L1 is just too expensive.
Solana is unreliable and has very low APY on their DeFi.
I personally stick with Polygon, Fantom and Harmony. Used to play with Avalanche, but I didn’t like there so I left.
Got to be honest here, I’m no FTM or Avax homeboy.
But in terms of defi, not being involved in FTM or Avax is like missing out on a very large part of the DEFI space.
FTM I particular is swallowing TVL right now.
You should definitely branch out
IMHO Ethereum still offers the most sophisticated experience. Mostly because of the rich developer community and the amount of DeFi projects. If I had to bet on the future of one of those, surely I’ll go with Ethereum.
Neither. Ethereum nor Solana, lol.. I recently came across Kadena blockchain though Kaddex, Kaddex is the first gas free decentralized exchange.
Well thanks to Kadena’s gas stations, users will never have to pay gas to utilize Kaddex.
If gas fees are your major issues I think Kadena is for you, I love the face that we now have a lot of options so we can now make our choices and make choices that suits us better.
My biggest complaint about Solana is you can’t see any of the code for any of the projects. Everything seems to be hidden away. It means you can’t trust any DAO because none of the work can be verified.
Don’t limit yourself to one ecosystem – branch out and experience them all for yourself (esp the ones with low gas fees) so you can decide which ones you like.
Solana is much cheaper and much, much faster than Ethereum. But so are BSC, Fantom, Avax, Harmony, Polygon, Terra, etc. There’s plenty on dApps now on any top 10 tvl ecosystem so you won’t get bored playing around with just Uniswap clones!
Solana for defi LOL. Bro.
I thought Solana was just a chain focused on NFTs, after looking at their Defi offerings it appears I was correct.
harmony so cheap
Go long Ethereum and short competitors
I prefer polygon to sol
they’re both garbage.
As someone said the best current defi opportunity on $ETH is a bridge to Fantom
Solana is cheap and has many options. I have learned most of what I know there.
Eth is unusable because of fees.