Why are people still using DeFi on Eth?

[bahagia93]

Because they're slow to change. Yes even in crypto you think everyone have to be so fast to adapt for a new thing. But no, things that have already been used for long or everyone already familiar with it will stay no matter what.

It is very natural and very common to happen because everyone who is used to the old thing and it is still very safe to use, then they will generally continue to use it even though a new option has been born to make it easier for them in every job.

[cryp24x]

What do you think about DeFi on ethereum at the end of 2021? It doesn't seem to you that this is an absolutely bottomless pit living your money on transactions (unless you are a millionaire, of course)
Heard about DeFi on Solana or Near? When will such blockchains completely replace the losing Ethereum Network?

You mean replacing Ethereum network by the Defi? As far as I know, Ethereum network was the origin by this thing,
Though, defi games nowadays or recently became trending but it doesn't mean that ETH network will be left behind or
replace by someone else, of course not!

[Abiky]

It is because ETH is the original Coké while the others are just generic cola. This is like asking "Why would anybody live in Monaco!! It is so damn expensive!!" Well... People live in Monaco because 1- They can afford it. 2- It is damn Monaco.

If you can't pay the price for the privilege of using the ETH network, you can then always use solana, neo or whatever crap is out there nowadays. Not everybody has to live in Monaco in the end. Some people have to live in Pakistan.

That's certainly true, mate. You can't beat the original project no matter how hard you try. Other smart contract platforms may be faster and cheaper to use than Ethereum, but they're extremely vulnerable to external attacks. That's because alternative smart contract platforms often prioritize scalability on top of decentralization. For this and many other reasons, people still use "De-Fi" on ETH even if they have to wait longer or pay higher fees. There are many popular dApps and tokens available exclusively on Ethereum, so there's that. Until developers start making quality dApps on competing blockchains, ETH will remain as the "King of De-Fi" for a long time. Just my opinion