Author: cmdefi

1/ Ethena and Usual launch stablecoin season

(1) Ethena launches USDtb, powered by BlackRock's BUIDL support

(2) Ethena cooperates with Usual to deliver TVL and incentives to each other

(3) WLFI cooperates with Ethena to integrate sUSDe into the lending market

Different from the previous Stablecoin war, this round of stablecoins has a clear trend of grouping, which is better than the impulsive boys of the previous cycle They are much more stable and sophisticated.

Usual’s stablecoin mining mechanism with built-in multi-party game is similar to the underlying logic of DeFi Summer’s Pool1-3. The difference is 1. RWA concept 2. The game model is further refined 3 Partners such as Binance provide massive liquidity withdrawals.

The cooperation with Ethena is conducive to the expansion of USD0. The early and high-speed TVL growth depends on the currency price. Raising the currency price -> Pulling TVL -> Token pledge The upper limit of this perpetual motion model is that when TVL growth slows down, it may reach an inflection point. Eventually, the token price and TVL will gradually balance and match, forming a reasonable return that is close to the market.

The other X factor is that favorable external stimulation (given the unique dividend of RWA in this cycle) may once again stimulate currency prices to drive a new round of growth of TVL.

2/ Resolv TVL has grown nearly 400% in the past 2 weeks

(1) Similar to Ethena The core difference of the Delta Neutral Stablecoin Agreement is the introduction of RLP, which functions to absorb the risk of market fluctuations and is an insurance layer between USR and the underlying assets.

(2) If the mortgage pool suffers losses (such as funding rate losses or unexpected losses), these losses will first be borne by RLP, without affecting USR holders.

(3) In order to incentivize users to Mint RLP, RLP users will receive higher profit sharing as compensation for bearing market and counterparty risks.

(4) The design of RLP and USR is equivalent to risk classification for users with different risk preferences.

(5) In the future, Resolv will be launched on HyperEVM

3/ Frax Recasting

(1) Frax cooperates with Symbiotic

(2) veFRAX multiple income structure

(3) Proposal to use BlackRock BUIDL as collateral for Frax USD

4/ Superchain Narrative

(1) Ink developed by Kraken is launched on the mainnet and joins the super chain

(2)Dinero launches the first LST on ink

(3)Velodrome will be integrated into ink in 2025. Ink has purchased and locked 2.5M veVELO compliance exchange to launch its own L2. This will be a trend in the next few years. With the success of Base, ink's Market expectations are also very high. Velo, as the liquidity center of the superchain, may no longer expand through forks such as aerodrome. Strategically speaking, it will use velodrome to expand horizontally to occupy other markets. superchain member.

5/ Convex and Yearn cooperate to launch decentralized stable protocol Resupply

(1) reUSD : Stablecoins generated by the lending market as collateral, such as CStablecoin certificates in urve Lend, Frax Lend.

(2) Leverage support: through the built-in leverage cycle function

From old DeFi Classical matryoshka doll.

6/ GammaSwap Yield Token is about to be completed and will be sent for audit

GammaSwap's track is to start from hedging impermanent losses, lending/splitting and reorganizing LP tokens, and at the same time A profit and loss curve similar to options has been achieved, and the use of it by veteran DeFi players is increasing, mainly observing the growth of TVL after the launch of Yield Token.

7/ Ethena’s new proposal to integrate Derive options and perpetual futures has now been published on the governance forum

(1) If approved, Derive will become Ethena 60 An on-chain hedging and underlying trading venue for the USD 100 million TVL portion.

(2) Derive is currently one of the few options trading products on the chain. If it can obtain better liquidity through Ethena, its competitiveness will be greatly improved. .

8/ Aptos changes leadership, Mo said that no APT has been sold, and the new CEO will pay more attention to the development of DeFi 9/ Babypie stimulates the liquidity of mBTC-BTC on multiple chains and dex

10/ Fluid expands to Arbitrum

Introducing $FLUID into the Arbitrum network and implementing growth incentives

One ​​of the most efficient dex currently, L2 expansion will capture greater transaction volume

(1) Avalanche Foundation launches infraBUIDL(AI) Plan

(2) LFJ is about to launch a DEX aggregator on Avalanche

(3) Morpho Labs Proposed to deploy core smart contracts to multiple chains

(4) Sonic launches mainnet, token conversion, Aave integration, and some ecological projects