DeFi
DeFi will make a big comeback, says 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 usually pegged to the US dollar. DeFi is an umbrella term for a variety of financial applications in cryptocurrency or blockchain aimed at disrupting financial intermediaries. What’s different about this cycle is that the return is real, the report says, and with regulatory clarity it wouldn’t be surprising to see global asset managers consider a possible exchange-traded fund ( ETF) DeFi and active DeFi funds, the report said.