How DeFi Builds (And Breaks) Itself
summary
Chronicle of DeFi from Maker’s 2015 CDP to present: Maker enables ETH-collateralized DAI; March 12, 2020 Black Thursday causes mass liquidations and failed auctions; Compound introduces liquidity mining that spikes TVL and spawns yield farming and Yearn-style aggregators that automate reward compounding and create risky loops; Terra/Luna and Anchor show reflexive stablecoin collapse; post-Merge tokenized staking (Lido, Rocket Pool) and new products built on LayerZero aim for cross-chain yield with sequencer-level security.
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chapters (15)
- 0:00DeFi evolution intro
- 1:13MakerDAO origins
- 2:35DeFi pillars: stablecoins lending trading
- 3:17Compound lending flash loans
- 4:41AMMs and early trading
- 6:28Black Thursday failures
- 8:15DeFi Summer liquidity mining
- 10:01Yield farming aggregators TVL boom
- 11:27Yield looping rise and fall
- 12:31Reflexive stablecoins Ponzi risks
- 14:18Terra Luna collapse
- 15:43Ethereum Merge staking
- 16:49DeFi landscape today
- 18:54Security threats in DeFi
- 19:41Circuit new yield product
