Last Friday was the one year anniversary of the collapse of the Terra Luna Stablecoin. This event marked the end of the 2020-2022 crypto bull market and started a chain of events that would lead to the high-profile collapse of corporate crypto exchanges like FTX, BlockFi, Celsius, and Voyager.
As the irrational exuberance of the 2020-2022 crypto bull market cycle has receded, the one-year anniversary of the Terra Luna collapse presents many opportunities to reflect on the current state of the crypto industry. For the purposes of today’s article, however, I will focus on the outlook for DeFi protocols one year after the crypto bubble burst.
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