In 2020, the growth of DeFi took the crypto world by storm. The first quarter of 2021 was an eventful period for the DeFI world. From January 1st to the end of March, the ‘Total Value Locked’ (TVL), the amount of capital that is being stored in DeFi protocols, rose from roughly $16 billion to more than $49 billion. One of the main reasons for the attractiveness of the DeFi market is the higher transparency and trust that large institutions have contributed to turning it into a crowdfunding platform — a more mature evolution of initial coin offerings (ICOs).