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🌊 DeFi 2.0 Wave of New Projects Test Liquidity Mining Alternatives
Hello Defiers! Here’s what we are covering today,
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We’re excited. We’re getting ready to launch The Defiant Terminal, a platform for investors and analysts to track all DeFi data in one place. Join the waitlist today to be notified as soon as it’s live. You’ll want to be the first to get your eyes on that alpha.
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🙌 Together with:
Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
Aave, an open-source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets.
TLDR Things aren’t getting easier for those struggling to stay current with the lightning quick DeFi space. Just when you think you’re up to speed with the latest token or protocol along comes something new. Brace yourselves because here comes DeFi 2.0. What that term actually means is still in flux.
EXPERIMENTING While DeFi 2.0’s meaning is still congealing, a core component of DeFi’s next evolution includes alternatives to a mainstay of DeFi 1.0: liquidity mining. Projects like OlympusDAO, Fei Protocol, and Alchemix, are all experimenting with new ways of capturing users with the new challenge of getting them to stay.
MINING REWARDS The new crop of DeFi projects centers around the idea called protocol controlled liquidity (PCV). This entails projects acquiring funds to support their financial applications, rather than tapping users’ funds by enticing them with liquidity mining rewards.
DISTANT MEMORY When decentralized exchanges started to take off in 2019, the designs were very simple, but simplicity in these marketplaces might soon be a distant memory.
STABLECOIN TRADES The most successful category of decentralized exchanges are the automated market makers (AMMs), such as Uniswap and Curve. The Cowri Labs team, builders of the Shell Protocol, a small AMM that has thus far focused on stablecoin trades, are the latest to bring more nuance to the AMM design with a new whitepaper released today.
MULTIPLE DEFI USES This continues down the road Uniswap began when it introduced concentrated liquidity in March, after which Uniswap added $5B to its total value locked. This kicked off a streak of innovation as other AMMs sought to keep up. Curve followed with its dynamic peg design and SushiSwap answered by announcing Trident, which would use its pools for multiple DeFi uses at once.
CONCENTRATED LIQUIDITY Now upstart Shell Protocol looks to enter the fray by giving market makers even more control, which — based on the response to concentrated liquidity — liquidity providers appreciate.
🧑💻 🦄 🌈 NYC DeFi Hub: The Defiant has just launched Colony, a co-working space in Dumbo for teams building DeFi and Web3 to join and find a community. There are 20 desks in an open floor plan at a reformed factory building. Fill out this form if you’re interested in working there or sponsoring the space.
RECUR — the NFT company backed by billionaire hedge funder Steve Cohen — announced Wednesday plans with media giant ViacomCBS to create a platform for trading NFTs tied to the firm's brands and franchises.
Blockchains revolutionized fundraising for open-source software, but not everything worked right from the start. In fact, ICOs of the 2016-2018 era were often horribly broken mechanisms that allowed founders to cash out before delivering any products.
Today, we’re excited to announce the release of How to Win the Future, a policy agenda for the third generation of the internet.
Crypto assets have grown rapidly from just $16 billion five years ago to about $2.3 trillion today, and thus could pose a systemic risk to the global financial system, the Bank of England said on Wednesday.
The US overtook China as the world’s biggest source of bitcoin mining two months after Beijing banned crypto mining this year, new data have revealed.
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Investors to Reap $2M in Rewards as Curve Launches on Harmony Blockchain Curve, the decentralized exchange known for specializing in tokens that should have roughly the same price, has launched on the sharding blockchain Harmony. There are rewards available for those who help it find a footing.
MakerDAO Ponders the Unthinkable as Members Debate Incorporation and Paying Taxes Should DAOs pay taxes? And, if so: Where? There’s a conversation underway in MakerDAO about how it should relate to the governments of the world, which has implications for the whole DeFi industry.
Axie Infinity is Up 223x This Year: Here’s the Skinny on What’s Propelling AXS Since our last in-depth analysis of Axie Infinity almost two months ago the price of their AXS token has increased over 100% within a few weeks.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Bailey Reutzel, DeFiDad and yyctrader, and edited by Edward Robinson, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr