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Current state of DeFi in 2021: Part 2

December 2, 2021, 3:27PM EST • 9 min read Quick Take This is a section from The Block Research’s upcoming 2022 Digital Assets Outlook report The nature of decentralized stablecoins became more diverse with the rise of algorithmic stablecoins backed by fractional reserves or endogenous collateral Centralized custodians played a pivotal role in bringing Bitcoin into DeFi Lido denominated the liquid staking sector with billions under management Most miner extractible value originated from arbitrage Join The Block Research for exclusive …