Decentralized Finance—A systematic literature review and research directions. Meyer, E., Welpe, I. M., & Sandner, P. SSRN Electronic Journal, 2021.
Decentralized Finance—A systematic literature review and research directions [link]Paper  doi  abstract   bibtex   
Decentralized Finance (DeFi) is the (r)evolutionary movement to create a solely code-based, intermediary-independent financial system—a movement which has grown from $4bn to $104bn in assets locked in the last three years. We present the first systematic literature review of the yet fragmented DeFi research field. By identifying, analyzing, and integrating 83 peer-reviewed DeFirelated publications, our results contribute fivefold. First, we confirm the increasing growth of academic DeFi publications through systematic analysis. Second, we frame DeFi-related literature into three levels of abstraction (micro, meso, and macro) and seven subcategories. Third, we identify Ethereum as the blockchain in main academic focus. Fourth, we show that prototyping is the dominant research method applied whereas only one paper has used primary research data. Fifth, we derive four prioritized research avenues, namely concerning i) DeFi protocol interaction and aggregation platforms, ii) decentralized off-chain data integration to DeFi, iii) DeFi agents, and iv) regulation.
@article{meyer_decentralized_2021,
	title = {Decentralized {Finance}—{A} systematic literature review and research directions},
	issn = {1556-5068},
	url = {https://www.ssrn.com/abstract=4016497},
	doi = {10.2139/ssrn.4016497},
	abstract = {Decentralized Finance (DeFi) is the (r)evolutionary movement to create a solely code-based, intermediary-independent financial system—a movement which has grown from \$4bn to \$104bn in assets locked in the last three years. We present the first systematic literature review of the yet fragmented DeFi research field. By identifying, analyzing, and integrating 83 peer-reviewed DeFirelated publications, our results contribute fivefold. First, we confirm the increasing growth of academic DeFi publications through systematic analysis. Second, we frame DeFi-related literature into three levels of abstraction (micro, meso, and macro) and seven subcategories. Third, we identify Ethereum as the blockchain in main academic focus. Fourth, we show that prototyping is the dominant research method applied whereas only one paper has used primary research data. Fifth, we derive four prioritized research avenues, namely concerning i) DeFi protocol interaction and aggregation platforms, ii) decentralized off-chain data integration to DeFi, iii) DeFi agents, and iv) regulation.},
	language = {en},
	urldate = {2022-09-05},
	journal = {SSRN Electronic Journal},
	author = {Meyer, Eva and Welpe, Isabell M. and Sandner, Philipp},
	year = {2021},
}

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