Despite DEXs like UniSwap reporting massive transaction volumes, it is increasingly evident that a large part of these transactions are coming from developed nations with negligible participation from the emerging markets of Africa.
Part of the reasons proposed for this low uptake in developing nations is the skyrocketing fees asociated with Ethereum.
On the other hand, the low gas fees on BSC has seen players in emerging markets enter the DeFi space. The launch of the Africa-focused Xend Finance DeFi product on BSC and Balancer DEX is a classic example these dynamics at play.
Check out this exclusive BitKE interview with Xend Finance CEO, Aronu, as he discusses the project inception, vision, and lessons for fellow African entrepreneurs on how to build successful DeFi crypto projects: