In crypto winter, DeFi needs an overhaul to mature and grow By Cointelegraph

For several months now, the decentralized finance (DeFi) sector has been on the receiving end of a major bear market, so much so that the total value locked within this space has slipped from its all-time high of $150 billion (achieved back in May 2022) to its current levels of just over $50 billion.

Despite this, the amount of capital flowing into this space from “centralized avenues” has grown, largely due to the collapse of FTX alongside other prominent entities like Celsius, Genesis, Vauld, etc. — even doubling trading volumes on many platforms over the course of November 2022 alone. Not only that, amid the recent market volatility, several decentralized exchanges and lending platforms continued to function smoothly, especially in comparison to their centralized counterparts.

How can DeFi regain consumer confidence?