Bernstein points out that six of the top ten revenue-generating protocols are DeFI applications. These include Uniswap, Aave, Maker, GMX, Synthetix, and Sushi. “The last cycle of DeFi was the collapse of the unsustainable yield game,” the author wrote, adding that the epitome of unsustainable DeFi is the Luna stablecoin. folded. all stablecoin It is a type of cryptocurrency that is usually pegged to the US dollar. DeFi is an umbrella term that refers to a variety of financial applications of cryptocurrencies or blockchains aimed at disrupting financial intermediaries. What’s different about this cycle is that the returns are realistic and regulations are clear, so it wouldn’t be surprising if global asset managers were considering possible DeFi exchange-traded funds (ETFs) and active DeFi funds, the report said.
