Binance Research Institute and DappReview jointly released the 2020 DeFi Trends Research Report yesterday. The report shows that DeFi is increasingly important in Ethereum; the average monthly user of DeFi based on Ethereum reaches more than 40,000, 90% of whom The decentralized exchange is DEX; the number of DeFi active projects has almost doubled in 2019, and more and more developers are providing new products and services. In addition, the report mentioned that the proportion of mortgage assets on MakerDAO dropped from 90% in January 2019 to less than 50% in December. Compound and Synthetix grew rapidly; Kyber Network has more than 35,000 users and an annual transaction volume of 387 million The U.S. dollar is the No. 1 DeFi protocol in terms of utilization rate; Uniswap's lock-up mortgage assets increased from $ 1 million in January 2019 to $ 28 million in December. The report concludes that once technical and legal challenges are resolved, DeFi is expected to grow rapidly and attract more capital outside the crypto industry. The rapid development of DeFi has laid the first step to challenge traditional financial platforms.