DeFi
DeFi will make a big comeback, according to Bernstein
Bernstein notes that six of the top 10 revenue-generating protocols are DeFI applications. These are Uniswap, Aave, Maker, GMX, Synthetix and Sushi. “The madness of the last DeFi cycle was the play of unsustainable yields collapsing,” the authors wrote, adding that the epitome of unsustainable DeFi was the stablecoin Luna, which was subsequently created. collapsed. A Stable coin is a type of cryptocurrency that is typically pegged to the U.S. dollar. DeFi is an umbrella term for a variety of cryptocurrency or blockchain financial applications aimed at disrupting financial intermediaries. What’s different about this cycle is that the returns are real, the report said, and with regulatory clarity, it wouldn’t be surprising to see global asset managers consider a potential DeFi exchange-traded fund (ETF) and active DeFi funds, the report said.