Take you to understand defi 2.0 from four perspectives: innovative incentive mechanism is an important feature

Daily Planet 2021-11-23 18:55:22 阅读数:392

understand defi perspectives innovative incentive

Original title :《 Take you to understand from four angles DeFi 2.0》

author :Footprint

Throughout the DeFi Development history of ,DeFi stay 2019 It has emerged since , Is defined as DeFi The first year of , at that time DeFi Total lock up ( or “TVL”) by 2.7 Billion dollars ; 2020 This momentum has also continued in , To Compound Launch its governance token COMP An upsurge of liquidity mining , The first horn to start mobile mining .

end 2021 year 11 month 3 Day as a whole TVL Already reached 2690 Billion dollars , It's all over 990 Times over , Many representative DeFi project , Such as Curve、Aave、Compound、MakerDAO、Sushiswap  as well as Yearn Finance, With DeFi Projects are growing rapidly ,DeFi 2.0 The concept of .


DeFi Total lock volume ( since 2019 year 1 month ) Data sources :Footprint Analytics

DeFi 2.0 It's a new track ? Different people have different views , from DeFi In view of the rapid development of the project , Can be divided into DeFi 1.0 and DeFi 2.0 Two tracks , and DeFi 1.0 As a whole DeFi Cornerstone , Provide mobile mining for users 、 Token exchange 、 To loan 、AMM And so on , Leading the mission of continuous innovation . However ,DeFi 2.0 The arrival of the track , Means it's in DeFi 1.0 Based on the realization of “ Micro innovation ”, Changed the relationship between protocols and liquidity providers , And many new and representative DeFi 2.0 project ,Olympus、Abracadabra and Convex Finance, Lay a more solid foundation for the ecosystem .

This article will take you from the following 4 Understand... From two angles DeFi 1.0 To DeFi 2.0 Era :

      1. DeFi 2.0 Concept

      2. DeFi 2.0 Solve what problems and represent the project

      3. DeFi 2.0 The data performance of the project

      4. Opportunities and challenges

1. DeFi2.0 Concept

Familiarity DeFi 2.0 front , Let's popularize it DeFi 1.0 What is it? ?

DeFi 1.0 It is the early decentralized financial infrastructure that constitutes the current DeFi scene , such as , Decentralized central trading application DEX(Uniswap、SushiSwap etc. ), Lending applications (Aave、Compound etc. )、 Stable currency application (MakerDao etc. )、 Mobile machine gun pool application (Yearn etc. ) wait . It also includes synthetic assets derived from them (Synthetix,UMA)、 Insurance items ( Cover、Nexus Mutual) etc. .

and DeFi 2.0 It is based on the first generation protocol DeFi application , Because it was done again from 0 To 1 innovation , Therefore, it can be regarded as the second generation protocol , be called DeFi 2.0. Its core is to turn liquidity into DeFi The infrastructure layer of , Give Way DeFi Become more sustainable , From this point of view ,DeFi 2.0 It will be DeFi An evolutionary trend of Ecology .

2.DeFi2.0 What problems and representative projects to solve

Every enterprise or project will have its own development process , After development and stability in new fields , It will innovate and iterate in another area , In order to make the enterprise or project better and more stable sustainable development . alike , stay DeFi 1.0 At this stage, many representative projects show the powerful subversive power of decentralized Finance , Such as Curve occupy DEX Track total TVL Nearly a third of the market share , With super 100 A pool and attractive APY Mechanism and other functions 、 and Maker Agreement is The etheric fang The largest decentralized application on the blockchain (DApp) One of , And more head projects to introduce liquidity mining 、 Loan and other functions , Let's witness one of the most dynamic DeFi Ecological development .


front 20 Name agreement TVL Ranking Data sources :Footprint Analytics


front 20 Name agreement TVL market share Data sources :Footprint Analytics

Its DeFi 1.0 The innovation is to provide Pool Let users provide mobility themselves , Solved the problem of cold start of the project . as time goes on , More people and projects participate in practice and exploration , Slowly some new problems appear :

  • Liquidity supply compensation continues to release , There is a problem of selling pressure
  • The ruthlessness of users who provide mobility “ Dig, pick and sell ” The problem of
  • Borrowing requires the provision of over collateralized assets , There is a problem of low capital efficiency
  • Reasonable community organization form and governance structure

DeFi 2.0 Appearance , There will be projects that put forward new ideas , Through new mechanisms to solve DeFi 1.0 The above questions , Here are three representative projects to explain its breakthrough .

Olympus DAO: replace “ Liquidity mining ” Pattern

Olympus DAO Is an algorithmic currency protocol , The goal is to become a stable cryptocurrency . It is the first to use the bond mechanism to create an alternative “ Liquidity mining ” The project of the pattern scheme , By issuing its native token at a discount OHM,Olympus Be able to buy from the market LP Position , To create " The liquidity of the agreement ".


Coupon discount ( since 2021 year 11 month 3 Japan ) Data sources :Olympus DAO

Every OHM from 1 individual DAI Support , When OHM The higher the price is. , Enter into the pledge contract DAI The more , Participate in OHM The more returns you get from a pledge , This makes OHM The market price of continues to be much higher than 1DAI. Create super high quality through super development APY( Annual yield ), Let... Through continuous game OHM The price is approaching the total asset value in the Treasury .

For example, users can create LP Tokens, , Such as OHM-DAI LP, To issue “ bond ”, And buy... At a discount price for a certain period of time OHM( end 11 month 3 Sun Yue 5% Discount rate ,5 Days due ). therefore , When users buy at a discount OHM when , User made LP Tokens will be exchanged with the agreement . And existing liquidity providers can stop providing liquidity at any time 、 Protocols receive liquidity in different ways ,Olympus The pledge and bond structure of LP Tokens are bound to the agreement in the form of bonds to maintain liquidity .

 Mobility LP Token situation ( since 2021 year 11 month 3 Japan ) Data sources :Olympus DAO

Besides , It's the protocol itself, not the user LP Tokens, , This generates transaction costs from the liquidity pool , At the same time, prevent immediate selling pressure from liquidity providers .Olympus DAO Changed its relationship with liquidity providers , Subvert the tradition DeFi Liquidity model .

Abracadabra: Value added mortgage assets 、 Improve the utilization of funds

Abracadabra It's a lending platform , The agreement incentive token is SPELL, Its pattern is similar to MakerDAO similar , Are over mortgaged assets to generate a stable currency . And MakerDAO The difference is ,Abracadabra A mortgaged asset is an asset with income , The user can use the interest generating token , for example yvUSDT and xSUSHI, stay Abracadabra Borrow or cast a kind called MIM(Magic Internet Money) A stable currency pegged to the dollar , So as to release the liquidity of such assets and improve the income of users .

Its lending advantages Turn the asset certificate with interest into liquidity , Increase capital leverage , Make more money

  • Low borrowing costs , Interest rates are stable
  • Stable currency MIM In Multi Chain Curve It has good liquidity
  • Its liquidation
  • There is only independent liquidation risk , No linkage with other collateral

from Abracadabra On the whole , In addition to improving the utilization of funds , It also reduces the possibility of liquidation . Because these mortgage assets add value . This is a kind of innovation based on user needs .

Convex Finance: Improve user experience

This year 5 month 17 It's officially launched in Japan Convex, stay 2021 year 6 month 3 Japan ,Convex Locked CRV More than the Yearn Become the platform with the highest proportion .Convex Committed to making up for Curve Weaknesses in user experience , Through the introduction of CRV One stop platform for pledge and liquidity mining , With the aid of CVX Tokens, , Through an easy-to-use interface , simplify Curve and CRV lock 、 The process of pledge , And improve CRV Currency holder 、 The rewards of liquidity providers , So as to promote CRV Ecosystem development .

Innovative product features 、 The new economic model is DeFi 2.0 An important feature of .

3.DeFi 2.0 The data performance of the project

In the near future Olympus DAO、Abracadabra and Convex Finance And other agreements have attracted the most attention , Innovation in incentive mechanism . According to the Footprint Data show that , Their TVL They all hit a record high , and TVL Another measure DeFi One of the important indicators of ecological development scale , Therefore, the development of a project and whether it has new ideas , It can be considered from its data performance .

 Mobility front 10 Big deal TVL Ranking changes   Data sources :Footprint Analytics

 Mobility DeFi2.0 platform TVL trend   Data sources :Footprint Analytics

According to the Footprint data display ,Convex Finance Of TVL(145.5 Billion dollars ) Beyond Yearn Finance(60.5 Billion dollars ) Become Yield The leading , And in the past 1 In the month ,Convex Finance Before 10 Big deal TVL The platform with the highest rate of change , Beyond many mainstream DeFi project . The reason for its growth is that it makes up for Curve Weaknesses in user experience , simplify Curve and CRV lock 、 pledge , Improved returns for holders and liquidity providers , So as to achieve better development .

besides ,Abracadabra and Olympus Of TVL in the past 30 Rapid growth within days , At present TVL Respectively 42 and 6.5 Billion dollars , contrast Convex Finance In the past 30 Day growth rate ,Abracadabra(205.2%) and Olympus(178.9%)TVL Change and growth are greater . Innovation here DeFi 2.0 In the ecological , They still have room to add value .


DeFi2.0 platform Token Price trend   Data sources :Footprint Analytics

 Mobility DeFi2.0 platform Market Cap trend   Data sources :Footprint Analytics

 Mobility DeFi2.0 platform Token Trading Volume trend   Data sources :Footprint Analytics

Convex Finance、Abracadabra and Olympus Token status of , The current token prices are 0.031 dollar 、27.85 The dollar and 1045 dollar , There is a big difference in the token prices of the three items , But it doesn't affect their DeFi 2.0 Development in Ecology .

Its market value and trading volume are close to 2 It has increased significantly in the next month , Through the growth and change of market value , Reflects its project in DeFi Market value of the industry ; Through the change of transaction volume growth , It indicates that the user activity is high .

4. Opportunities and challenges

Blockchain technology itself is an innovation , Innovation is also an important cornerstone of human social progress and scientific and technological development . The rising project platform is in DeFi 1.0 Stage failed to see , They use innovative mechanisms to solve users' problems , So as to give DeFi 2.0 The development of brings great opportunities , And help users better understand the positive impact of decentralized Finance , Improve the efficiency of capital operation 、 Prevent immediate selling pressure from liquidity providers and more reasonable forms of community organization .

But there are challenges and risks behind the opportunities , In the new protocol model , Users should not blindly , Do a good job in the research of the project , Reasonably control risks . for example Abracadabra agreement , Once the agreement to mortgage its assets goes wrong , Then there will be problems in itself ; In addition, with regard to liquidation , The mechanism of the project depends heavily on MIM The stability of , rely on Curve The pool has enough liquidity to support transactions ; also Olympus Tokens, OHM First soar, then cut back, and then restore and stabilize the currency DAI The price is quite ( See... Above Token Price Trend chart ), It shows that the volatility is high , So while seeing its advantages , Also see the potential risks .


DeFi 2.0 Track , Is inseparable from DeFi 1.0 The foundation of , There are more projects with new concepts and new ideas , Constantly improve DeFi Parts of the ecosystem , Let users get a good experience , So distinguish whether a project has DeFi 2.0 Concept , It also depends on whether there are important features such as innovation in the incentive mechanism .

besides ,DeFi The market is unpredictable , The speed of updating is too fast , There are both opportunities and risks , While optimistic about the growth of the project , Also be prepared for research , The background of the project 、 Have an in-depth understanding of the business model and mechanism , and DeFi 2.0 The development of needs a long time to observe and layout .

The above is my personal opinion only , For reference only 、 communication , Does not constitute investment advice . If there is an obvious understanding or data error , Welcome to feedback .

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