The return of (I)DeFiXq-fin.CP
Study shows cryptocurrency market impact on DeFi returns stronger than other drivers.
problem Understanding drivers of DeFi returns and their relative importance.
method Investigated four drivers: cryptocurrency market exposure, network effect, investor attention, and valuation ratio. Designed a new market index, DeFiX.
result Cryptocurrency market impact on DeFi returns is stronger than other drivers and provides superior explanatory power.