After the mining carnival and doll-like crash in the third quarter, DeFi quietly entered the second half. The running, air, and imitation projects have collapsed, and the uncompetitive projects have long disappeared from the market . After the baptism of the market, the industry is moving towards healthy development.
The representative projects of each stage of DeFi have also begun to reveal their advantages and disadvantages. Below, we will analyze and compare them one by one.
Synthetix (SNX) is known as the originator of liquid mining. It is an agreement to create a global pool of funds for synthetic assets on Ethereum, which can promote the creation and trading of various asset classes (including cryptocurrency, stocks and commodities), and everything is done on the chain. Synthetix currently has issued more than 150 million US dollars of “Synths” synthetic assets. The most important of these is sUSD, the stable currency under its platform, which has a market value of 100 million U.S. dollars.
Now, Synthetix mainly provides synthetic assets based on cryptocurrencies, such as sETH and sBTC, and index tokens that track asset portfolios, such as sDeFi and sCEX. The attractiveness of these tokens mainly comes from their unique market design. Assets are traded at the price of the information transmission mechanism, so there will be no price slippage during trading.
But with the migration of time, SNX has also appeared some drawbacks, users still need to deal with the risks of oracle failure, smart contract failure, hacker attacks and other risks. At the same time, using its own platform token SNX as collateral, setting a high mortgage rate, complex project design, especially the design method of debt calculation, and the lack of a liquidation mechanism will also have an impact on Synthetix.
Uniswap (UNI) is the first DEX with the AMM (Automatic Market Maker) mechanism. It has developed rapidly. As of the end of the year, the total value of Uniswap’s locked-in amount was US$29.1 million. By 2020, Uniswap will develop more rapidly. In the past month, Uniswap transaction volume has increased by 10 times, and liquidity has increased by 200%
Uniswap provides ordinary users with the opportunity to make market in the encrypted market, with extremely low thresholds, and creates a completely decentralized trading market model. If we can actively allocate liquidity provision according to market changes, it is possible to obtain considerable benefits. Of course, participating in market-making activities is not without risks. It takes time to identify risks and make configuration strategies to minimize risks and maximize returns.
Yearm.Finance (YFI) is the most explosive project in Q3, the first machine gun pool mode.
The main element of yearn finance is the yearn agreement. This agreement is simply an “interest rate optimizer”. What it does is to maximize the efficiency of DeFi by switching between different loans.
Yearn.finance has proven to be the most interesting release to date. The initial success of YFI gave Andre Cronje a platform to realize his DeFi vision. However, due to its own attributes, it will be difficult for yearn to fork effectively, so the market is showing negative sentiment.
DeFi-X is a decentralized synthetic asset issuance protocol based on Ethereum. Its ecological project Defixwap is a DEX using AMM mechanism. Its Token model and market mechanism are similar to the Year protocol.
In simple words, DeFi-X combines the advantages of Synthetix+Uniswap+YFI:
1. Product/market matching started overseas and developed steadily in the Chinese market
2. Participation in an active global community
3. Full decentralization (community ownership)
4. Decentralized exchange mechanism AMM and its income right distribution
5. Complete ecosystem
6. Anti-bubble risks through the production and circulation of synthetic assets
Roadmap of DeFi-X Eco System
Decentralized synthetic asset issuance agreement based on Ethereum.
TGX is its network token, and token holders can use TGX as collateral to mint synthetic assets or provide liquidity, and at the same time receive additional token rewards issued by the network. It not only requires network participants to invest money (to buy TGX), but also incentivize them to work (to play the value of the token and avoid inflation).
Another biggest feature of DeFi-X is revenue automation.
Decentralized multi-synthetic asset trading platform.
Adopting AMM mechanism, supporting multiple types of asset pools, committed to providing lower slippage and better trading experience, without relying on professional market makers, no matter how large the order size or how small the liquidity pool is, Defixwap can Provide liquidity at any time. In addition, it also has functions such as mortgage and coinage.
Positioned as the public chain of DeFi infrastructure.
Lego blocks that support stablecoins, lending, DEX, derivatives, insurance, aggregators, wallets, DAOs, oracles.
The biggest advantage of DeFi-X Chain is that it is free of network fees, high throughput, and fast. By the 2.0 era, its vision is to make everything tradeable on the chain.
Decentralized game asset agreement.
Embed the DeFi-X protocol into online games, and connect gold coins, props, equipment, and even accounts in different online games through the DeFi-X protocol.
Turn virtual items without asset attributes into visible, transferable, and tradable encrypted assets on the chain, and even split the ownership, use rights, and income rights of scarce items through DeFi-X smart contracts, thereby deriving more For example, a high-level player rents his krypton gold equipment to a low-level player, collects rent from the player or divides it from the monster-killing revenue, which can greatly enrich the fun of the game and increase the player’s viscosity.
DeFi-X financial ecological products.
It will be extended to traditional finance, combined with the characteristics of decentralized finance, to match financial products and services such as lending, insurance, global stocks, stable coins, banks, and hedge funds.
A platform for realizing landing payment through synthetic assets issued by DeFi-X.It will be applied to shopping malls, hotels, casinos, international remittances, insurance, physical delivery and other fields.
Looking back at the development of DeFi in the past six months, we can see that the prosperity of DeFi is built on the support of complete underlying assets and community consensus. DeFi has entered the second half. At this time, what the market needs to consider is no longer a bubble, but how to further expand DeFi. The market needs to see more innovative products, and new products must also cultivate their own user communities and build barriers through consensus. DeFi-X is moving in this direction. This is also the indestructible building of DeFi Lego blocks.
The only way to the castle.
For project details, please refer to the official website: https://defix.finance
Please join DeFi-X Tele Group for more information：https://t.me/joinchat/RRFBzByx3c7qhvw_zs6ywQ