Two studies published by the Bank for International Settlements on Friday cast doubt on whether DeFi can smooth financial markets – or even be that decentralized at all. jackschickler and camomileshumba report
Decentralized finance could lead to bumpier financial markets, and may not even fix problems of large intermediaries dominating, two papers published Friday by the Bank for International Settlements said.
“This contagion to other exchanges leads to negative feedback loops,” Leharof and Parlour said, after studying behavior on Aave and Compound, two major DeFi apps. “Our findings illustrate a new form of systemic fragility arising from collateralised lending under DeFi architecture.”withdrawn on the day the exchange filed for bankruptcy
A separate BIS study also published Friday found DeFi could reduce the cost of financial transactions – but doesn’t fully fix the problems of centralized intermediaries overcharging for services, and can also circumvent checks.
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