And some fully open OTC trading markets mean tpolygon coin how to buyhat users have to pass the market pricing of stable currency acceptors to buy stablecoins.
As of September 16, 2021, Defi's total TVL has hit a new huniswap exchange coin listigh since May, reaching 180 billion US dollars. Although the proportion of borrowed TVL has declined, it still occupies the bulk, with a TVL of approximately US$50 billion.The top 15 lending agreements of TVL (not including Makerdao, Liquity), data source: DefiLlama
In terms of outstanding borrowings, the current outstanding borrowing amount of all loan agreements is about 30 billion U.S. dollars.The total amount of loans in the loan agreement, data source: DebankIn terms of business volume, the established projects Aave, Compound and MakerDAO still firmly occupy the top three positions, and their TVL accounts for more than 70% of the entire lending market.However, the rise of emerging lending projects is also amazing. The top ten projects in TVL include Anchor on Terra (US$3.12 billion), Benqi on the avalanche agreement (US$1.23 billion), and Qubit (US$400 million) on BSC. Unlike the big three lending giants that originated in Ethereum, these fast-growing lending forces all come from Ethereum’s competitors, which is the hottest narrative at the moment-the new public chain.What's more surprising is that in addition to the earlier launch time of Anchor (in March this year), the official launch time of the other two projects is only less than one month.
In terms of the type of lending business, whether it is the number of projects or the amount of funds, basic lending projects account for a higher proportion, followed by leveraged mining lending projects, and other relatively new ones such as risk-graded interest rate products. The business volume is currently relatively small.This research report will focus on newly born lending projects in the past 1-2 months with rapid business growth (TVL has entered the top 15 lending category), and Euler, a project with many innovative combinations in mechanism.Project Status
Product launch time: August 19, 2021Benqi is the first native lending agreement on Avalanche, led by Ascensive Assets, with participation from Dragonfly Capital, Spartan Group, Ava Labs, GBV Capital and other institutions. Benqi's current products are similar to most mainstream lending platforms, adopting the borrowing model of a pool of funds, and all product mechanisms are quite satisfactory, without much innovation.Project FeaturesAs mentioned above, Benqi itself does not have much innovation in mechanism. Its TVL soaring comes from first-mover advantage on the one hand, and from the 3 million US dollar liquidity mining jointly launched by Benqi and the Avax Foundation on the other hand. In addition to mining subsidies, Benqi itself will also distribute project tokens QI to the users of the agreement as a reward. The total monthly subsidy amount exceeds 10 million U.S. dollars.
Business conditionsBenqi is the largest project in the avalanche protocol ecology. According to data from DeFi Llama, its TVL has accounted for 47% of the total TVL of the avalanche protocol.
We can find that Benqi's high total funds and capital utilization rate are largely due to the higher token subsidies at the current stage.Product UI/UXBenqi's product interface is relatively simple and quite satisfactory. Compared with Qubit and Beta Finance, it displays less data and still has room for improvement.Last week, I became a consultant for Sushi.com. In the past year, we have gone through a crazy journey, from launching the income farm to migrating more than one billion US dollars from Uniswap to Sushiswap in "Vampire Attack".
When Chef Nomi decided to cash in on the road, he was experimenting with human greed. Many community members not only believed in the initial value from the first day of the project, but also decided to continue to invest in construction desperately. They fell into the abyss and then stood up again.We now have more than 20 core contributors, able to integrate all UI into one, and launch another two protocols Kashi and Miso, which are deployed on more than 10 EVM compatible chains (Polygon, Arbitrum, Fantom, Harmony, xDai, Avalanche, Moonriver and many more). We are trying a new NFT project. Trident has opened the source code a few days ago. I feel confident that the current team can pursue and develop this without me. project.I will change from day-to-day operations to a consultant role to help cultivate the next generation of teams built on Sushi, support from the side, and help the wider DeFi ecosystem, no matter where they are deployed, it doesn’t matter. I still believe in the Ethereum community, especially after Layer 2 goes live. The most exciting experiments all appeared in Ethereum first. Of course, such exciting attempts are being made elsewhere.I have been working hard to make Sushi a leaderless organization. My role is a contributor. I don't want anyone to recommend any member to the throne and become the so-called "leader" of Sushi. I will encourage decentralization as much as possible. Some things are crucial, such as on-chain governance, recommendation programs for various products (Kashi and Trident!), oSushi guides emissions in a transparent manner, and so on.
The liquidity providers of Sushi and ETH, as well as the holders of xSushi, have the best team in the DeFi world to serve them and should be fully utilized.I want to stay in the vault multi-signature group, but if the community does not want this, I will also withdraw after the snapshot vote.
I hope the community will not forget:All double reward programs
New agreementSushi is not Maki, and Maki is not Sushi eitherMOVR liquid mining project, community members will be responsible for how to operate the funds (0.25% of the supply! Nearly 10 million US dollars at current prices)Support Avalanche Rush Incentives – Polygon – xDai – Celo (our LP's transaction volume exceeds 75 million US dollars)All funds that join the community believe in this vision of DeFiAmazing items were first launched on Sushi, and will likely continue to be launched here!
Expand this team from 1-2 people to 24 peopleKeep Sushi's fun, open, "Degen", and radically different!
The future of France has never been so bright!On a personal level, I put Sushi before physical and mental health, relationships, family and friends. In the next month or two, I will slow down. It must be interesting to build on top of Sushi. Unfortunately, I will not post spam on Twitter. Maybe I will de-anonymize it a bit? Write an in-depth book...Who doesn't want a Hollywood-produced Sushi/DeFi version of "Social Network"? Ha ha. I might divide my BAYC ape into several parts for fun, and then airdrop it to everyone in this community.
After all... We are 0xMaki in some ways, and we have no intention of leaving this space. I have joined the community for a long time, and I am ready to come back when the community needs it. I am a lifetime asset of you.Blockchain News, September 18 The intersection of blockchain and games will undoubtedly become a hot topic in many industries in the future-there are actually many similar topics. But in this field, there is a new trend that is very interesting, that is, play and earn (P2E) games.
The "two giants" in the game fieldIn the field of "playing and earning" games, the two most famous projects are Axie Infinity and YGG.Axie Infinity created an unprecedented type of game that is "play while earning", just like "Candy Legend" created the dominance of free-to-play games in 2012.At this stage, Axie Infinity already has more than 1.5 million daily active players, mainly in the Philippines, Indonesia, Brazil, Venezuela, India and Vietnam. For thousands of users, playing Axie Infinity has become their source of livelihood, and sometimes the revenue provided by this game far exceeds their income from working locally. Although most players are not native users in the crypto industry, through viral word-of-mouth marketing, many people have learned about the Axie Infinity game. The explosive growth, global influence, and extensive revenue generation achieved by the Axie Infinity game is indeed impressive. The reason for this achievement is mainly because they created a new game model of "play and earn". In terms of gameplay, Axie Infinity is similar to Pokémon. Players need to breed and breed Axies, a cartoon character that looks like a salamander, and then participate in the battle. The difference is that instead of winning points, the winner gets the game’s native token-Smooth Love Potion (SLP). This token can be immediately transferred to another crypto asset or used as collateral, or Cashed as legal tender. Axies and the digital land of games can be bought and sold between individuals as NFTs, and they even launched a governance token (AXS) that allows holders to determine the future of the game.
Another project is Yield Guild Games (YFF), which is a "guild" aimed at the new "play while earning" economy. This union is managed by a decentralized autonomous organization (DAO) for those who want to professionally play Axie Infinity and Other people who "play and earn" games provide "scholarship" incentives to share part of their income. Therefore, this decentralized autonomous organization holds NFTs from various Metaverse games, making its governance token YGG an index of game earning economy. Although the project is still in its infancy, there are already more than 4,500 "scholars" with weekly transactions exceeding US$1 million.In recent months, some other "play while earning" mode games have become more and more popular, such as CryptoBlades, Zed Run, Cometh, REVV, etc. In fact, in the "play while earning" mode games have obtained orders. After the jaw-dropping success, this game revolution is very meaningful for big-name game developers. This trend cannot be ignored. In the future, we may see some mature game industry participants begin to incorporate these ideas into their games, and Bring this game mode to a wider audience.
There are three major shackles in the traditional game industryGaming is an industry that covers the world: There are currently more than 2.7 billion gamers in the world, mainly in Asia, Europe and Latin America. In addition, games are firmly integrated into the daily lives of many people: 60% of Americans play video games in some form every day, and video game streaming has 1.2 billion viewers every year. For example, Fortnite is a popular product of Epic Games. Last year, there were more than 350 million live players per month and generated 5.1 billion U.S. dollars in revenue, which shows that even a single game can achieve great success. Some analysts predict that the value of the gaming industry will exceed US$300 billion in the next few years.
However, despite the promising development trajectory of the game field, there are still three major shackles:Shackle one, traditional game players don't really "own" anything. Players mainly buy clothing, weapons, props, etc. on in-game items, but even so, last year's consumption in this area still exceeded US$50 billion. However, in addition to improving player performance and game fun, these game items cannot be used for any other purpose, nor can they be sold, lent or mortgaged for any game items purchased by themselves. These purchase transactions are not real investments.
Shackle two, the interoperability between traditional games is very limited. To a large extent, many games on the current market are still walled gardens: they are independent of different "game worlds" and have their own items and experiences. Of course, this problem is not surprising! Game developers want to gain complete independent control over their own creative efforts, but what if game developers can collaborate with each other in more complex ways?Shackle three, traditional games lack business model options. At this stage, more than 80% of total digital game revenue comes from free games (or "freemium games"). In some successful paid games, most of them only get income through the purchase of skins, which will also limit the design space of some developers. Form follows function. As more game developers launch new business models (such as secondary NFT sales commissions), new game forms will also appear.Why the "Playing and Earning" game can get a big explosionIn fact, there are five major trends that have driven the explosion of "play while earning" games:
Trend 1: The blockchain network continues to expand. Remember the network congestion caused by the "crypto cat" CryptoKitties game in 2017? But now, with the emergence of the second-tier Ethereum expansion protocol, a new high-throughput blockchain, and other scalability solutions, there has been a solid foundation for the vigorous development of blockchain native games;Trend 2: NFT becomes mainstream. Many innovations, including the ERC-721 standard, have spawned the recent upsurge in NFT applications. Game companies now have the tools to NFT games, and more importantly, the public can better understand why rare game assets are valuable.
Trend 3: DeFi tools and architectures are increasing. Many basic decentralized financial industry tools (for example, AMM automatic market makers) have been tested in actual combat and have been widely implemented. Game developers can combine these tools to realize game financialization and promote purchase, lending, mortgage and other basic financial activities Now they can all enter the game field smoothly.Trend 4: Web2 interoperability. Many traditional large-scale technology giants have also begun to join the decentralized ecosystem, and have also opened up a new distribution mechanism for encryption-driven games. For example, Apple’s recent changes to the App Store can make it easier for iOS users to directly access NFT-based “sides”. Play and earn” game.
Trend 5: Metaverse. "Meta universe" has become a new frontier of digital experience, and the rapid rise of this emerging concept has even aroused Facebook's interest.Summarize