...on the CoinList blog:
https://blog.coinlist.co/future-or-fantasy-the-real-economics-of-yield-farming-2/
It explains in great clarity where the current hype about DeFi and all the astronomic prices and stats are coming from. Really good piece!
Synthesizing assets and building derivatives on top of them actually reminds me of something similar that happened about 12 years ago: Prior to Lehman going down there were a ton of Asset-Backed Securities and Credit Default Swaps synthesized into layers and layers of derivatives, so that nobody would know - or care - what the underlying actually was.
With DeFi, we can build very similar structures on blockchains, and either make or lose a ton of money. Awesome! Hope you'll make sure to cash out in time :-)