Mike Siligadze, a representative from EtherFi, highlighted the challenges faced by decentralized finance (DeFi) applications due to inherent centralization. He noted that many DeFi teams impose restrictions that limit their ability to protect users, resulting in systems that are neither fully decentralized nor capable of safeguarding users effectively in emergencies. In response, EtherFi has introduced mechanisms such as blacklists and the ability to pause contracts during crises to enhance user protection.