Corn (Yearn Finance) on the Evolution of DeFi Protocols (EP. 691)

On The Brink with Castle Island · Dec 17, 2025 · 38:59

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Henry sits down with Corn, head of business development at Yearn Finance, for a conversation about the evolution and current state of defi. In this episode:

The history of defi from 2020 to today, and how the TerraLuna crash impacted the market
How incentive mechanisms in defi have changed in 2025
What caused the collapse of xUSD and Stream Finance?
What is the role of risk curators in defi?
The state of onchain cybersecurity and recent hacks
What is the appetite for defi from non-crypto users and institutions, and will a declining fed funds rate help?
How do defi protocols drive value to their native tokens?
How "decentralized" is defi today?