Decentralized Finance (DeFi), a blockchain powered peer-to-peer financial system, is mushrooming. Two years ago the total value locked in DeFi systems was approximately 700m USD, now, as of April 2022, it stands at around 150bn USD. The frenetic evolution of the ecosystem has created challenges in understanding the basic principles of these systems and their security risks. In this Systematization of Knowledge (SoK) we delineate the DeFi ecosystem along the following axes: its primitives, its operational protocol types and its security. We provide a distinction between technical security, which has a healthy literature, and economic security, which is largely unexplored, connecting the latter with new models and thereby synthesizing insights from computer science, economics and finance. Finally, we outline the open research challenges in the ecosystem across these security types.
翻译:分散化金融(DeFi)是一连串权力的同侪和同侪金融体系(DeFi ), 正在蓬勃发展。 两年前, DeFi 系统锁定的总价值约为700万美元,到2022年4月,目前约为150亿美元。 生态系统的急剧演变在理解这些系统的基本原则及其安全风险方面带来了挑战。 在这个知识系统化(SoK)中,我们沿着以下轴线界定了DeFi 生态系统:其原始部分、其操作协议类型及其安全。 我们区分了技术安全(它拥有健康的文献)和经济安全(它基本上尚未探索),将后者与新模式联系起来,从而将计算机科学、经济和金融的见解综合起来。 最后,我们概述了这些安全类型生态系统的公开研究挑战。