In short, Defi has been hit hard in 2022, with growth slowing. Why? You can probably guess. - Market shock from the collapse of industry giants - Emerging actors with short-term interests - Long-standing UX design flaws, etc. Here are some statistics: • TVL (Total Value Locked) in Defi has dropped by almost 75% from its peak • DEX trading volume fell for five consecutive months through November 2022 • Loan demand fell for largest money market only #whycrypto