there is no reason to use DeFi unless you have longs on cryptocurrencies, and want access to financial services while preserving self-custody. This is why and how DeFi got bootstrapped, and all the other applications are cargo cults > inb4 "muh USDC yield", that's not DeFi

the non-ETH chains with DeFi will never have the same success, because the primordial soup is fundamentally different: the VC investors use institutional custodians, whereas the early ETH depositors to DeFi were ideologically committed to self-custody

i saw this first hand. The whales of [chain i worked on] were structurally unable to lock value anywhere, which radically contrasts the savvy early ETH holders who bought their ETH from the ICO using Bitcoin