DEFI issues started with the coming of bad players who used rug pull, flash loans, and the likes brought a bad reputation to Defi. This made some people lose interest in it.

Again, many other innovations have come to tackle Defi such as NFTs, play-to-earn games, etc. The fact remains that people are still more into Defi than any other crypto-related project. You can see that there is a continuous increase in TVL every year.

With the current volatility in the market, Defi has been a source of remedy to many investors. Despite the dip, defi has offered them passive rewards.