December 2, 2021, 3:27PM EST
• 9 min read

Current state of DeFi in 2021: Part 2

Quick Take

  • This is a section from The Block Research’s upcoming 2022 Digital Assets Outlook report
  • The nature of decentralized stablecoins became more diverse with the rise of algorithmic stablecoins backed by fractional reserves or endogenous collateral
  • Centralized custodians played a pivotal role in bringing Bitcoin into DeFi
  • Lido denominated the liquid staking sector with billions under management
  • Most miner extractible value originated from arbitrage

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