DeFi is not really decentralized, it is unavoidably centralized

Rules are required to ensure DeFi projects grow and mature, which means they need layers of centralization before becoming truly decentralized. . What to know : A panel at Consensus Hong Kong 2026 argued that most DeFi protocols must pass through a pragmatic, temporarily centralized “incubation phase” before they can safely decentralize. Speakers contrasted Ethereum’s base layer as a neutral “government” with layer 2 founders acting like growth-focused businesses that use admin keys and guardrails to protect young protocols from early exploits. Industry leaders said institutional adoption will require professional, rule-based infrastructure that sacrifices some early-stage decentralization so protocols can mature and withstand scrutiny from global financial markets.(Coindesk)