#DeFi on $ETH will follow very similarly to the 2014 #SummerOfAltcoins.
The key improvement since then is automatic liquidity, which zombifies-- allows a 0-fundamental value token to survive-- an asset to survive way longer than it "should" (ie where a shitcoin would chain-death)

First you have clone proliferation. This is like the colourcoin era ( #stillearly in the cycle). We're already seeing clones of successful DeFi products. And cloning services. Fortunately these are not only dead easy to spot, but can be auto-parsed.

Next you have intra-token economic fuckery. DeFi leaprogs this somewhat due to interoperability of yield farming, but eventually in the quest to create alpha to sell to apes, we'll see DeFi's IgotSpots. Already seeing a few tokens like this. Most of these are abortions by design.

Once the interop and economic-fuckery spaces are exhausted (and meme/theme tokens run their course), we'll reach out into the real world purpose area. "Token for Uber. Token for Ebay to bypass fees. Token to bribe cops." it will be even sillier than 2014 AND MAKE MORE MONEY

Ideally this coincides with Normie RetailSplosion of a new BTCUSD (and ETHUSD? drool) ATH. If you thought apes were getting rich now, here's where they do so hilariously. Compounding 3xs is great, here's where it's 30x-200x.

This inferno burns bright but fast. Regulators will crack down deanonymizing $ETH accounts for Known Proceeds of ApeCrime Against Noobs. Public opinion will turn against crypto, probably find a way to make it racist or something tbh.

Then comes the Real Work era where the frenzy is over, the public has a DeFi hangover and has long moved on, there are a few new enthusiasts/converts/whales. Launches will be low quantity high quality, backed by new whales.

Solid-fundamental projects get thrown out with the bathwater during this time so this is the time to wait for despair and survivability, to then buy later. Or if you're flush enough, be like @needacoin and buy all the way down for the fullest bags.