"This post is an attempt to identify the key developments of DeFi in the past few years, the innovations that have been spurred as a result, and all of the subsequent implications on where DeFi is headed in 2022. Advanced readers will understand the concepts behind AMMs, CRV, and Olympus, but we introduce these concepts in order to establish a foundation from which we can make our judgements. Ultimately, a lot has happened in the DeFi space since 2019, and we attempt to articulate those developments here. Following along on Twitter or Discord quickly becomes a herculean effort, so we attempt to distill all of the information here. This is a long post, but well worth it to gather a well-rounded understanding of where we started in DeFi and where we are going."