What colors are the bricks? Unboxing the DeFi model- A literature survey, empirical study, and taxonomy of decentralized finance
摘要
Decentralized finance (DeFi) is gaining momentum in the world of banking, finance, and beyond. Yet, there remains a notable lack of scholarly research addressing the foundational principles and concepts underlying DeFi. In response to this gap, this study undertakes an extensive investigation into DeFi, drawing upon existing academic literature and insights from industry experts to develop a taxonomy of DeFi's attributes, operational models, and associated risks. This classification sharpens the definition of DeFi and yields critical insights for scholars and industry professionals keen on advancing DeFi's technological applications. By pinpointing essential characteristics of DeFi, mapping out its diverse business models, and highlighting the risks for DeFi users, this research contributes to the academic dialogue. It lays down a comprehensive framework for understanding DeFi, paving the way for subsequent studies and practical implementations in this dynamic area.