DeFi blue-chip price performance is terrible, but DeFi is still growing! From the establishment of the basic framework of DeFi 1.0, to the product diversification and capital efficiency improvement of DeFi 2.0, to the fixed income products of DeFi 3.0, DeFi is gradually improving. LSD has accounted for about 50% of the total TVL of DeFi, and the market value of RWA concept token exceeds 2.5 billion US dollars. With the emergence of liquid pledged derivatives solutions such as Lido, Frax, and RPL, the liquidity of pledged assets has increased. Established DeFi protocols such as MakerDAO, AAVE, and Compound are also targeting the RWA track. LSD and RWA may be the future of DeFi, what do you think? Welcome to chat in the comment area!