i think defi is much more credible concept than IEO/ICO previously, - here even when we see a huge hype, we understand that there's a strong financial model/technical base/strategic roadmap under this particular token. i believe defi isn't a real hype more like stable concept which will have a huge impact on a crypto market
also believe defi is a new concept, it will change the market. i invest in defi even in long term strategy, and especially interested in credible dex-es
besides, i'm watching just now an interesting stablecoin dex - xsigma. looks credible, backed by a public company and have a team from Ripple and amazon