When did DeFi start?

The genesis of decentralized finance (DeFi) emerged in 2017, fueled by the advent of Ethereum's platform and smart contracts.

Oct 07, 2024 at 12:24 am

The Genesis of DeFi: A Chronological Journey1. Origins (2015-2017)

2015: Ethereum launches, providing a platform for decentralized applications.
2017: The initial concept of DeFi emerges, fueled by the creation of smart contracts and decentralized exchanges (DEXs).

2. Early Developments (2018-2019)

2018: MakerDAO introduces DAI, the first decentralized stablecoin.
2019: Uniswap launches as an automated market maker (AMM), paving the way for user-friendly DEXs.
2019: Compound and Aave unveil their lending and borrowing protocols.

3. Explosive Growth (2020-2021)

2020: DeFi's popularity skyrockets, driven by the COVID-19 pandemic and low interest rates.
2020: SushiSwap and Balancer emerge as alternative AMMs.
2020: Yearn Finance launches as a yield optimization platform.
2021: Total Value Locked (TVL) in DeFi soars to over $80 billion.

4. Maturing Landscape (2022-Present)

2022: DeFi protocols face challenges such as market volatility and regulatory uncertainty.
2023: Layer-two solutions and protocols aimed at scalability gain traction.
2023: DeFi remains an evolving ecosystem, with constant innovation and the potential for further mainstream adoption.

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