DeFi’s Quiet Restructuring: From Yield to Utility

DeFi, once driven by speculation and high-yield incentives, is undergoing a quiet transformation. Following the crashes of centralized finance intermediaries in 2023/24 and subsequent smart contract failures, DeFi has shifted its focus to stability, governance, and real utility. This shift reflects growing awareness of risk management, transparency, and secure operations. 2023 marked a pivotal point as investors now prioritize protocols offering tangible services like data accessibility and settlement solutions over speculative APRs.