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Let’s set the scene, it’s Summer 2020 and we’re all stuck at home because of Covid19.
Protocols and apps that enable yield farming emerge from the depths of web3 and billions of dollars start flooding in. Everyone from internet hobbyists to disruptive technology fund managers is strapped in for the ride.
Millions of investors catch on to what could be possible with blockchain technology and foundations for a decentralised financial system are set.
Tens of thousands of people become millionaires overnight thanks to this historic event.
That my friends was DeFi Summer.
TLDR: Too long didn’t read (don’t be lazy, read the report)
- DeFi Summer 2020 was the catalyst that made a decentralised financial system a real possibility
- Tens of thousands of early adopters made millions in the space simply by being early
- The recent collapse of Luna, 3AC, FTX & more has set the stage for a second DeFi summer to take place
- If you want to capture a piece of this DeFi pie, take the action steps at the end of this article
Fast forward 2 1/2 years— red candles are everywhere, fraudulent billionaires are stealing our money, and a global recession is looming.
On the macro front, Russia is at war with Ukraine, Europe is under a full-blown energy crisis, and the US can’t seem to control the inflation wildfire.
Then on the crypto front, ‘Donut’ Kwon caused the collapse of Luna, seeing investors to lose billions. The 3AC boys blew everyone’s money, and SBF crashed the second-largest crypto exchange over a few shitty trades.
To say crypto was blindsided is an understatement.
That said, my friends, the tragedy above sets the stage for what could be a magical 2023.
Diamonds in the rough: DeFi Summer 2.0
With so much damage caused by these centralised powers, crypto users have lost faith in the system.
If the traditional banking system is broken, and the centralised crypto world is a wreck, where can one turn?
That’s where DeFi Summer 2.0 comes in.
DeFi summer of 2020 set the foundations for what could be. What we’re calling “DeFi Summer 2.0” is the actualisation of that vision!
Case in point; in the wake of these centralised failures, we’re seeing huge outflows of capital into self-custody wallets and DeFi applications.
This sets the perfect stage:
- Funds begin to move from CeFi to DeFi.
- Layer 2s have advanced to allow for affordable transactions.
- DEXs (Decentralised Exchanges) and DeFi-based protocols become the go-to place for crypto users to interact.
- DeFi is primed to thrive throughout 2023.
Cryptonary’s Take?
DeFi Summer is officially back! Except this time, it will be much, much bigger.
The people who made millions in the last DeFi Summer were the ones who understood the vision of what could be. The people who will make money this DeFi Summer will be those who invest in the right DeFi projects.
So how can you get involved?
Action Steps
If you’re new, and this is the first you’re hearing about DeFi, it’s time to get you caught up.
- Check out our simply explained on the topic and get familiar with all the terms necessary to get started.
- Then, follow this tutorial and get some funds into a DeFi wallet.
Once done, come back to this report and try the advanced action steps.
Advanced Action Steps
Now you know the score with DeFi. It’s time to get you involved with the right assets!
- Here’s a DeFi asset we believe will outperform the market in 2023. Our team expect a 5X return! Read this report, try out the app, and tell us what you think.
Later this month, expect a deeper look into DeFi, including the MVP of perpetual futures exchanges – the most profitable and viable product DeFi currently offers!
Thanks for reading!
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