DeFi Development History
Key development milestones of Decentralized Finance (DeFi) since 2013, covering platform, protocol, and innovation mechanism evolution.
Event Timeline
BitShares: Concept of the Earliest Decentralized Exchange
The idea of 'decentralized financial market' was first proposed, laying the foundation for the basic model of DeFi.
MakerDAO: Prototype of Stablecoin DAI
The use of digital assets as collateral to generate stablecoins laid the foundation for the credit system of DeFi.
Ethereum: Operating System of DeFi
Providing a smart contract platform, allowing DeFi applications to be truly built.
Augur: Decentralized Exploration of Prediction Markets
Attempting to build a 'gambling + financial market' without intermediaries, expanding the boundaries of DeFi applications.
0x Protocol: Improving DEX Matchmaking Efficiency
Proposing a model of off-chain match-making and on-chain transactions, improving transaction performance and reducing transaction fees.
dYdX: Initial Thoughts on Derivative Products of DeFi
Starting to think about on-chain contract trading, aiming to become a leading decentralized contract platform.
Compound: Automated Interest Bearing Lending Protocol
Using code algorithms to determine lending rates, opening the era of 'lending money to smart contracts to earn interest'.
Uniswap V1: Revolutionary of AMM Mechanism
Proposing the 'automated market maker' model, users don't need to place orders to trade, and DeFi truly exploded before the night.