Recent Trends in the DeFi Industry: The Stablecoin Boom and the Development of Public Chain Ecosystems

In the past week, the DeFi sector has shown several noteworthy trends, primarily focused on stablecoin innovation and public chain ecosystem development.

New Trends in the Stablecoin Sector

Ethena leads a new wave of stablecoin craze

The USDtb stablecoin launched by Ethena has received support from an asset management company and has collaborated with Usual, achieving mutual benefits in terms of TVL and incentives. At the same time, WLFI has also joined the collaboration, integrating sUSDe into the lending market. This round of stablecoin development shows a clear trend of collaboration, appearing more robust and mature compared to the earlier stages.

Usual has adopted a multi-party game-based stablecoin mining mechanism, with innovations in concept, model refinement, and liquidity exit. The collaboration with Ethena is beneficial for the expansion of USD0, but its development model may face challenges with slowing TVL growth. Future development may depend on external favorable stimuli, especially the policy dividends of RWA in the current cycle.

Resolv Rapid Growth

Resolv, as another Delta-neutral stablecoin protocol, has seen its TVL grow by nearly 400% in the past two weeks. The protocol introduces the RLP (Risk Liquidity Provider) mechanism as a risk buffer layer between USR and the underlying assets. RLP holders will receive higher profit sharing to compensate for the market risks they undertake. Resolv plans to launch on a new emerging public chain in the future.

Frax Ecosystem Update

Frax has partnered with Symbiotic to launch the veFRAX multi-yield structure and proposed using an asset management company's ETF product as collateral for Frax USD. These initiatives demonstrate that Frax is actively adjusting its strategy to adapt to market changes.

A new attempt at traditional Decentralized Finance projects

A well-known DeFi project has launched a decentralized stable protocol called Resupply, whose core product, reUSD, is a stablecoin generated from the lending market as collateral, and provides an integrated leverage cycling feature, showcasing traditional DeFi projects' innovative attempts in the stablecoin field.

Public Chain Ecosystem Development

A certain exchange's L2 network joins the superchain

The L2 network Ink developed by a large exchange has officially launched its mainnet and joined the Superchain ecosystem. Dinero has launched the first LST product on this network. At the same time, Velodrome plans to integrate into the Ink network in 2025, and Ink has locked a large amount of veVELO tokens. This series of actions reflects that exchanges developing their own L2 networks has become a trend, and the market has high expectations for Ink.

Development of Other Public Chains

Aptos announced the replacement of its CEO, and the new leadership stated that it will place greater emphasis on the development of Decentralized Finance. The Avalanche Foundation has launched a new infrastructure construction plan, while several projects in its ecosystem have also made new progress.

Decentralized Finance项目动态

1. The Yield Token of GammaSwap is about to complete the audit, and the project focuses on hedging impermanent loss.

2. Ethena has proposed a new integration with Derive, aiming to provide on-chain hedging and a foundational trading venue for its $6 billion TVL.

3. Babypie incentivizes mBTC-BTC liquidity on multiple public chains and DEX.

4. Fluid expands to the Arbitrum network and implements growth incentives.

5. Morpho Labs proposes to deploy the core smart contracts to multiple chains.

6. Sonic launches the mainnet, providing token conversion, Aave integration, and other features.

These developments show that the DeFi sector is continuously innovating and expanding, with collaboration between projects and cross-chain development becoming a major trend.