In markets like this, it’s often very easy to forget just how far things have come within the span of a few years
This ecosystem is not the same as it was even 6 months ago
Let’s take a look at a few examples to prove my point… 🥐
$UNI
Uniswap invented the automated market maker for a decentralized exchange of $ETH tokens way back in Nov 2018
At the beginning of last year it’s daily average volume was $1.5M, quite the difference from today’s $1B+ 👀
By the start of 2021, it had ~600k users (2.5M today)
$SUSHI
$SUSHI influenced the entire DeFi market with its way of distributing tokens to LPs
It launched on August 28th, 2020 and quickly attracted hundreds of millions in liquidity
24K -> 211k users this year
What started off a fork, is now a leader and innovator in the space
$AAVE
Originally named $LEND, $AAVE is a DeFi lending protocol that started in 2017 & has grown to have billions locked in their contracts
$AAVE even attracted attention from institutional investors & plans to build out a permissioned pool for them
68k+ users
$22B TVL
$YFI
Invented by Andre Cronje in Feb 2020, this DeFi protocol quickly took off to insane levels for its method of yield farming & fair launch
It launched with zero supply & zero value, allowing users to earn tokens by depositing into specific pools
31K+ users today
$3.5B TVL
$USDC
Started by Circle, $USDC is a stable coin on Ethereum which has grown astronomically since the beginning of the year
It was recently announced that VISA will accept $USDC for tx settlement soon
What was just a $4B mcap in January 1st, 2021 is now over $27B mcap
Anyways, I hope you all enjoyed this short thread…
But it’s clear to me this industry is growing exponentially and only just getting started re-inventing the way we transact with money 🥐
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