#OnChainLendingSurge : However, despite this growth, the current level of leverage is still only about half of what it was at the last market peak, suggesting a cautious but expanding market. This trend points towards a maturing DeFi landscape where peer-to-pool overcollateralized money markets dominate, though there is also a noted inefficiency in liquidation risk and margin management due to floating rates. There is an anticipation that interest rate swaps and fixed-term products might gain traction, adapting to the increasing variety of viable collateral assets on-chain.