Dec 17, 2025
Henry sits down with Corn, head of business development at Yearn Finance, for a conversation about the evolution and current state of defi. In this episode:
- The history of defi from 2020 to today, and how the TerraLuna crash impacted the market
- How incentive mechanisms in defi have changed in 2025
- What caused the collapse of xUSD and Stream Finance?
- What is the role of risk curators in defi?
- The state of onchain cybersecurity and recent hacks
- What is the appetite for defi from non-crypto users and institutions, and will a declining fed funds rate help?
- How do defi protocols drive value to their native tokens?
- How "decentralized" is defi today?