A recent market observation categorized major DeFi projects by their displayed locations on social media, illustrating the industry's geographic decentralization. The list highlights API3 in Sweden, Lido in Spain, Curve in France, Aave in Switzerland, and Sushi in the UK. Other mentions include Balancer (Netherlands), Mina (Ireland), DoDo (Taiwan), UMA (Canada), Sui (Armenia), and Ondo (UK). While some locations may reflect VPN usage or registration data rather than physical headquarters, the distribution emphasizes the regulatory and operational diversity inherent in the current DeFi landscape.