I think the lending aspect of DeFi is what has been actually interesting many people, not really DeFi as a whole, because majority of blockchain technology and cryptocurrency is about DeFi and taking over traditional institutions. we look forward to 'lending on the blockchain', DeFi has always been the subject of cryptocurrencies from the first day.
True, I agree. The problem with borrowing at this moment is, you need to be "a crypto nerd", cause you need Ethereum or something else as collateral. And who wants to borrow money and already has some Ethereum? Not an "ordinary Joe" without money. But when the collateral in the future can be a fraction of your 1 Tesla stock or a fragment of your house, when things will be digitalized, then it can work for more people (not just crypto nerds).
That's a bit true, however, someone who doesn't want to exchange his ethereum for any other cryptocurrency but needs some stablecoins can use his eth as collateral pending when he returns the stablecoins he borrowed. There's some feasibility, but fact is, defi still has a long way to go, just like cryptocurrency as a whole.
DeFi has always been there, I'd say it's as early as crypto itself. Just that the lending and asset management part of DeFi is making its first step. Aurgur is one of the earliest eth smart contract, it's defi too.
If you talking about MakerDAO, yes it is not that new. But if you check the volume of DeFi right now, it is totally different than a year ago or so.
Yeah, it's a trend currently, but that's normal in cryptocurrency, we might see the heat cool off soon, just like when privacy coins boomed.