In which countries are the popular DeFi project teams located?

Summary:

Many DeFi projects practice progressive decentralization - starting with a centralized way of doing their work.

Let's take a look at the registered and seated addresses of these entities.

The teams behind many decentralized finance (DeFi) protocols follow a progressive decentralization model leading to eventual full decentralization. That is, while the ultimate goal of the protocol is to completely separate itself from the centralized entity that manages its operations, the protocol will start out centralized.

Therefore, like other centralized companies, the companies behind DeFi protocols have official business entities, legal documents, and centralized headquarters in the early to mid-stage of gradual decentralization.

Ouyi OKEx popular currency broadcast: TRB has risen, with an intraday increase of 35.20%: According to Ouyi OKEx platform data, the market has collectively risen today, BTC has increased by more than 2.00% within a day, and is now stable above 54,000 USDT;

According to the Ouyi OKEx market, in the Ouyi OKEx daily increase list, the top three currencies are: TRB, AE, ARK; the largest increase in the Polkadot ecological category is PHA; the largest increase in NFT is CHZ;

As of 15:00 on April 27, the prices of popular currencies are as follows: [2021/4/27 21:03:10]

In this article, The Block updates a similar research article published in April. In this work, our sample set has been increased to 122 DeFi projects.

Ouyi OKEx popular currency broadcast: LMCH continues to rise, with an intraday increase of 43.83%: According to Ouyi OKEx platform data, today’s market fell slightly, BTC fell slightly to around 58660USDT, and is now stable above 58500USDT;

According to Ouyi OKEx market, in Ouyi OKEx's daily price increase list, the top three currencies are: LMCH, SUN, QTUM; Polkadot ecological category has the largest increase in LINK; distributed storage category has the largest increase in LAMB;

As of 15:00 on April 1, the prices of popular currencies are as follows: [2021/4/1 19:36:28]

Nearly 50% of DeFi projects are headquartered in the US, with the UK and EU being the second most popular location for DeFi projects seeking to set up their headquarters.

Asproex (Apollo) officially launched popular DeFi currencies DOT, LINK, LEND, COMP on September 3: According to official news, on September 3, 2020, Asproex (Apollo) officially launched popular DeFi currencies DOT, LINK, LEND, COMP, and opened DOT/USDT, LINK/USDT, LEND/USDT, COMP/USDT trading pairs on the same day. Open deposit and withdrawal time: 17:00, September 3; open trading time: 18:00, September 3. In 2020, DeFi liquidity mining is prevalent, and Asproex (Apollo) has taken the lead in cutting into the "DeFi" ecological track. In the future, more high-quality DeFi projects will be selected for users, allowing users to safely and quickly participate in the DeFi wave.

Asproex (Apollo), as the first offshore bank holding licensed trading platform, is also a trading platform covering the listing of CTO corporate tokens. It holds licenses from 5 countries and provides financing solutions for small, medium and micro enterprises around the world, helping digital listing . [2020/9/3]

Interestingly, despite its relatively small population size, Singapore has a large share of DeFi projects.

While companies often choose their headquarters based on where their teams are located, the choice of legal incorporation is often based on local regulatory and economic advantages.

In fact, 21% of the firms in our dataset are not located at the same location as they are registered.

If you look at the data in terms of domicile, Switzerland jumped from having the seventh-largest share of the DeFi space to having the second-largest share. Such a large market share is likely a result of the country’s relatively crypto-friendly regulations. Other crypto-friendly countries from a legal domicile standpoint also have a sizeable share of DeFi companies, including Singapore, the Cayman Islands, and the British Virgin Islands.

2017 turned out to be the most popular year since DeFi projects started — coinciding with the 2017 bull run. In our dataset, 36% of companies were founded in 2017 and 20% in 2019. With three months to go in 2020, 17 new DeFi companies have launched. This year has been the third most popular for DeFi companies.

Steven Zheng   Author

Li Hanbo   Translation

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