The New Wolf of Wall Street: DeFi 2021 Overview and 2022 Outlook

Decentralized finance (DeFi) is an umbrella term for various blockchain-powered financial applications geared towards democratizing access to financial products and disrupting financial intermediaries. In 2021, lending protocols grew from a TVL of $7.1 billion to $46.8 billion, representing a 559.2% increase. The lending landscape is becoming diverse with the introduction of new protocols that come with various tweaks and target specific niches. May 2021 was the best month for decentralized exchanges (DEX), Curve remained the most prominent decentralized exchange.