“The environment in the current crypto ecosystem vastly differs from the heyday of ICOs in 2018. Market maturity has driven the need to establish stronger technological foundations to be laid which have enabled exchanges and DeFi protocols to provide a variety of products, with lending, bridging, and liquid staking abilities, to reduce price fluctuations,” Singapore-based Danny Chong, co-founder of DeFi protocol Tranchess, told CoinDesk.