Corpus ID: 231662215

SoK: Decentralized Finance (DeFi)

@article{Werner2021SoKDF,
  title={SoK: Decentralized Finance (DeFi)},
  author={Sam M. Werner and Daniel Perez and Lewis Gudgeon and Ariah Klages-Mundt and Dominik Harz and William John Knottenbelt},
  journal={ArXiv},
  year={2021},
  volume={abs/2101.08778}
}
Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is mushrooming. One year ago the total value locked in DeFi systems was approximately 600m USD, now, as of January 2021, it stands at around 25bn USD. The frenetic evolution of the ecosystem makes it challenging for newcomers to gain an understanding of its basic features. In this Systematization of Knowledge (SoK), we delineate the DeFi ecosystem along its principal axes. First, we provide an overview of the DeFi… Expand

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