# kaal:claim:3606663-028

**Claim.** DeFi's decentralization remains theoretical in one important respect: as of the early 2020s DeFi is still largely relegated to one dominant platform, with 87 percent of all publicly funded DeFi projects built on Ethereum.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- publicly funded DeFi projects
- beginning of the 2020s

**Source quote.**

> At the beginning of the 2020s, DeFi is still largely relegated to the use of one dominant platform. 87% of all publicly funded DeFi projects have been built on Ethereum.

**From.** Kaal, *Digital Asset Market Evolution* (2020), (1) Decentralization, page 63

**Cite as.** Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663

**Verify.** sha256 of source PDF `d1d4a15a293b715bb6a5a32e689f59c3a1587915039ba9a1cf4eeb8ee2a1e57c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202020%20-%20Digital%20Asset%20Market%20Evolution.pdf

**Failure mode.** single platform dependence in DeFi  (family: recentralization-drift)

**Topics.** defi, decentralization

**Keywords.** defi, ethereum, platform-concentration, interoperability, decentralization

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