DeFi’s growth this year is shocking. By the beginning of this year, DeFi’s total locked-in value (TVL) has reached the $1 billion mark . However, in the next 9 months, DeFi’s TVL jumped to $13.5 billion .
Interestingly, in the past month, the hype of DeFi has decreased slightly. In the past October, many DeFi tokens have fallen off the rankings until November due to the new bullishness of YFI and COMP. Emotions rose again.
However, although the DeFi story seems to continue to grow in 2020, the dark side of the ecosystem seems to be growing at the same time. According to the latest report released by CipherTrace, this craze has also attracted criminal hackers to invade DeFi, leading to the most DeFi hackers so far .
The report highlights, “In the first six months of 2020, 45% of all thefts were DeFi-related, equivalent to approximately US$51.5 million, accounting for 40% of the number stolen during that period. So far, In the second half of 2020, DeFi accounted for 50% of all thefts , with an average of approximately US$47.7 million, accounting for 14% of the number of thefts during the same period.”
Starting from the beginning of 2020, DeFi’s TVL has increased by as much as 700%, and a disturbing parabola has formed. In fact, the above findings are based on CipherTrace’s data and conclude that DeFi hacking accounts for 21% of hacking and theft in 2020.
Although many people think that the DeFi hype is over, the decentralized financial ecosystem is still one of the hottest attributes of the digital asset market. Although September and October dropped by 50% for many projects (such as YFI, UNI, COMP, UMA, etc.), the situation is very different for the above situation. The strong fundamentals of DeFi seem to help these tokens. This allows them to correct their decline in the second half of the year, especially in the first week of November.
According to Longhash’s latest report, “On September 1, when most DeFi tokens reached the peak of the market price, DeFi’s TVL was 9.66 billion U.S. dollars. Since then, although the trend of DeFi tokens has been corrected, The value locked in DeFi is actually still increasing .”
DeFi’s 2020 undoubtedly represents two aspects of a coin. This space has attracted a lot of attention in 2020, and it has also aroused people’s concerns about the efficiency and functions behind the high demand and high activity of Ethereum. .
With TVL increasing 14 times, the DeFi ecosystem seems to be setting new standards. However, if you want to maintain a favorable position before 2021, you must eliminate bad actors in DeFi.
The report emphasizes that if the crime rate continues to remain unchanged, DeFi’s inherent conflicts and possible regulatory review , therefore, it is very important to remain vigilant.
” DEX cannot freeze funds like a centralized exchange. On the contrary, this ability lies in each DeFi project itself. However, if proper measures are not taken to ensure the security of the smart contracts that many DeFi projects rely on, DeFi may only Continue to suffer the consequences of anti-money laundering and insufficient security.”
The original text comes from ambcrypto, compiled by Blockchain Knight, the English copyright belongs to the original author, please contact the compiler for Chinese reprint.
