Boiling 2020: Why China Remained "Silent" Under DeFi Frenzy - A Review of Domestic DeFi Projects

In early August 2020, DeFi oracle projects represented by BAND and LINK surged with a big bullish candlestick. At this time, a large portion of domestic practitioners were still asking what DeFi was, with countless missing out. Overnight, the crypto circle split into the "classical faction" hoarding mainstream coins like BTC/ETH, and the "emerging faction" hyping DeFi coins like YFI/LINK/YAM. This wave of DeFi fever that spread from abroad to domestically actually had early signs.