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DeFi is experiencing “exponential” asset growth

June 12, 2020

Decentralized funding (DeFi) continues to grow exponentially and The number of new DeFi assets has increased almost tenfold compared to the same period last year.

The founder of the DeFi Zerion project, Evgeny Yurtaev posted a graphic on Twitter showing that the number of new assets has almost doubled in the past month and commented that growth “seems exponential to me”. The number of new assets reached over 1,000 for the first time last monthand the Uniswap protocol represents about 75% of them.

New DeFi assets per month

DeFi is experiencing “exponential” asset growthDeFi is experiencing “exponential” asset growth

New DeFi assets per month.

“”Similar to what [la] Internet content, DeFi makes it for financeYurtiev said.

DeFi is the new FinTech. It depends on the distribution costs. The Internet has brought it close to zero for content. However, this did not happen in the financial area. “

Road to 600,000

The total number of DeFi users over time is approaching 600,000, according to the analytics platform Ethereum Dune Analytics. The total number of DeFi users reached 193,000 in May. Most of the growth comes from Kyber (74,360) and Uniswap (70,739). The figure does not include 362,000 DAI users.

Ethereum DeFi users over time

DeFi Ethereum users over time. Source: Dune Analytics

The increase in the course of the year so far is almost 100,000 usersand only in March there was a slight decrease in the number of new users, which may be due to the global spread of COVID-19.

Mistrust drives adoption

Although the total number is still small in the general scheme of things, Acceptance is increasing and this is likely to increase as projects become easier to use. The total market capitalization of all DeFi projects has exceeded USD 2 billion according to the DeFi Market Cap.

A CoinGecko report showed that 89% of respondents knew the defiand that the most popular application was MetaMask.

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