There’s a reason why regulators and the media refer to the land of decentralized finance as the “Wild West.” Over $2 billion in cryptocurrency was stolen from DeFi projects this year, according to blockchain data firm Chainalysis, with back-to-back hacks, rug pulls, faulty code, bad actors, and crime galore within the space. Countless DeFi platforms have, in turn, collapsed, and some investors lost their life savings. But other DeFi-focused companies continue to emerge—and with fresh VC funding in tow.