The radical opportunity presented by decentralized finance has garnered significant attention from investors and speculators alike. The total value locked in DeFi protocols grew over 2,500% in 2020, from around $700 million in January 2020 to over $20 billion in December 2020. TVL is a more useful metric than market capitalization when it comes to DeFi, as it accurately represents the equity that investors are willing to commit to these protocols. And their commitment didn’t end in 2020; this year alone, DeFi’s TVL more than doubled, reaching $40 billion in February.
Related: Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer
Daryl Hok is the chief operating officer of CertiK. Previously, he spearheaded corporate development at FiscalNote, a global machine-learning GovTech unicorn. He obtained a dual B.A. in economics and psychology from Yale University, concentrating in behavioral economics.
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