It all started when the Compound protocol released its own governance token Compound (COMP), thus popularizing the concept of staking. COMP helped usher in the liquidity mining frenzy we see today and, during that time, we also witnessed how Yearn Finance’s native token, YFI, became the first cryptocurrency to ever surpass the price of Bitcoin.
With the recent price correction and looming predictions from analytics predicting bearish times ahead of us, is it possible that a DeFi summer 2.0 is just around the corner?
Characteristics of the last DeFi summer
The industry is much more mature now than it was last year according to the data. The Total Value Locked (TVL) on DeFi protocols now sits at $54 billion after peaking at $86 billion just last month, a massive surge from the $680 million registered at the beginning of 2020.
The volume and number of users on decentralized exchanges (DEXs) have also registered exponential growth with each passing month. Just last month DEXs reported a
Źródło: https://cryptoslate.com/is-defi-summer-bound-to-repeat-itself-in-2021/
