Cryptocurrencies and Decentralized Finance (DeFi)

Survey of crypto and DeFi market structure, including the central role of stablecoins as settlement assets.

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Key findings

• Stablecoins are the primary settlement and collateral asset across crypto and DeFi.
• DeFi remains highly interconnected and reliant on a few large stablecoins.

Topics: DeFi & Collateral · Market Structure & Adoption

Cite this

Igor Makarov, Antoinette Schoar (2022). Cryptocurrencies and Decentralized Finance (DeFi) Brookings Papers on Economic Activity (NBER WP 30006).

@techreport{makarov2022cryptoanddefi,
  title = {Cryptocurrencies and Decentralized Finance (DeFi)},
  author = {Igor Makarov and Antoinette Schoar},
  year = {2022},
  institution = {NBER},
  howpublished = {Brookings Papers on Economic Activity (NBER WP 30006)},
  url = {https://www.nber.org/papers/w30006},
  note = {Indexed by Stablecoin Beat},
}

Indexed by Stablecoin Beat — we link to and summarise sources; we do not host copyrighted full text, and summaries are our own.  ·  All research  ·  Methodology