CoinGecko: DeFi to continue growing in 2020

The Decentralized Finance (DeFi) space, which saw many developments in 2020, will continue to grow this year and the total amount of ethereum (ETH) locked into DeFi will exceed $1 billion, according to CoinGecko’s recently published yearly report.

Key points

  • DeFi markets will usher in crypto-friendly regulations.
  • Decentralized Autonomous Organizations (DAOs) will help DeFi ecosystem achieve true decentralization, and could be implemented in several projects such as Synthetix and Kyber.
  • The DAI savings rate could become the reference for the Defi markets similar to how LIBOR is used in traditional finance.