🎉 DeFi Wrap for 2023
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As the year wraps up, we take stock of the rise and performance of DeFi in 2023, where total value locked more than doubled and the number of protocols with over $250M of TVL grew to 19, from 15 at the start of the year. DeFi tokens also rallied in line with the rest of crypto. But while it was a bullish year for the ecosystem, the amount of "free money" distributed in airdrops declined by about 40%.
In other news, Ethereum creator Vitalik Buterin proposed a way to simplify the network's Proof-of-Stake architecture, while one of Crypto Twitter's most respected blockchain detectives, ZachXBT, said he's temporarily stepping down.
✍️ In today’s newsletter:
- DeFi 2023 wrap
- 2023 was a bad year for "free money"
- Vitalik wants to make Ethereum's PoS simpler.
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