Mapping out Ethereum’s DeFi ecosystem

Quick Take Despite potential regulatory concerns surrounding the Decentralized Finance (DeFi) vertical and subsequent stablecoins that power much of its ecosystem, DeFi has been the most popular deal type amongst investors for the majority of 2021 The DeFi vertical has received nearly $1.3 billion investment across 275 funding rounds, with Ethereum-based applications receiving a significant percentage of that capital from January to August In total, Ethereum’s DeFi ecosystem has amassed at least 320 startups and protocols across 14 verticals, which The Block has mapped out below This ecosystem map has been UPDATED from here