BackgroundThe summer of 2020 — fondly remembered as the “DeFi Summer” of 2020 — was an incredible time for the crypto industry. 1 The time was marked by the growing popularity of decentralized finance (DeFi) lending platforms and exchanges such as MakerDAO (MKR), Uniswap (UNI), Compound (COMP), Synthetix (SNX). With groundbreaking concepts like liquidity pools, yield farming, and governance tokens, the scene was both chaotic and revolutionary. Out of all the DeFi projects, a decentralized len...
