The networks like BSC and ETH became too expensive and Very slow and the current many existing protocols also lack the major market assets . Though we aren’t the first in the market to connect decentralised financial services with conventional loans, nor is it the first protocol to bridge the gaps between these conventional services and blockchains. In order to remain secure, there have been protocols that have used billions of dollars in assets held inside the protocols.
Current protocols like Compound, Have appear to be very centralised, since the decision-making power is mostly held by stakeholders and private equity investors. Decentralization is not part of their distribution strategy.
A further $1 billion worth of Ether are being held as unproductive MakerDao Contracts, which come at a significant expense to those that issue assets. In addition, to utilise assets to mint stablecoins, a user must convert it from a money market protocol to a smart contract, remove any benefits of the underlying asset as collateral, and put the item into cold storage.