"Decentralized Finance" TAG

Adaptations in Token Distribution Mechanisms: Does Farming Represent Progress?
  • research
In late 2019, Smith + Crown published a report on issues of fairness related to token distribution mechanisms. A key takeaway identified in this research was the significant extent to which a project’s choice of token distribution mechanism reflected its priorities regarding incentivizing certain initial contributions and ongoing user behaviors. In the two years since,...
2019 Review: DeFi
  • research
As previously discussed by Smith + Crown, the significant majority of growth in the DeFi space is attributable to lending protocols, most notably Compound, as well as stablecoin projects such as MakerDAO that effectively function as a margin lending protocol for ETH holders. Particularly towards the end of the year, increased asset issuance from Synthetix...