Decentralized Finance (DeFi), often compared to Traditional Finance (TradFi), has grown into a massive and exponentially expanding sector within Web3. Its mission aligns closely with the crypto mantra of "banking the unbanked." The promise of global financial services without banks is a noble goal—one that underpins much of Web3's appeal. This article revisits DeFi's evolution over the past year from today's perspective.OverviewTotal Value Locked (TVL) Hits $94.6B: While DeFi's TVL is substan...

Decentralized Finance (DeFi), often compared to Traditional Finance (TradFi), has grown into a massive and exponentially expanding sector within Web3. Its mission aligns closely with the crypto mantra of "banking the unbanked." The promise of global financial services without banks is a noble goal—one that underpins much of Web3's appeal. This article revisits DeFi's evolution over the past year from today's perspective.OverviewTotal Value Locked (TVL) Hits $94.6B: While DeFi's TVL is substan...