Huobi HTX continues to provide users with high-yield on-chain investment opportunities, helping investors seize institutional-level DeFi dividends.

In early 2025, the relaxation of cryptocurrency regulations in the United States sparked a wave of integration between DeFi and traditional finance, marking the strong arrival of the "Institutional DeFi Summer."

HTX Research, the exclusive research department under Huobi HTX, deeply analyzes the institutional-level DeFi boom driven by policy in its latest report titled "The Technological Evolution and Credit System Foundation Behind 'Institutional DeFi Summer'," systematically outlining the technological evolution of institutional applications and credit mechanisms.

Recently, the DeFi sector on the Huobi HTX platform has seen a surge in trading activity, with MakerDAO's Endgame strategic core project Spark launching exclusively on Huobi HTX. Huobi HTX continues to provide users with high-yield on-chain investment opportunities, helping investors capture institutional-level DeFi dividends.

Huobi HTX: Leading the DeFi Track, Capturing New Market Trends

As a global leading cryptocurrency trading platform, Huobi HTX has long been deeply involved in the DeFi field, supporting DeFi innovation and seizing investment opportunities brought by the institutional wave. Recent trading data from Huobi HTX reflects the market's enthusiasm for the DeFi sector, with EVM ecosystem DEX token UNI (Uniswap) soaring 31% last week, and Solana ecosystem DEX token RAY (Raydium) rising 39%. DeFi lending protocols AAVE and SNX (Synthetix) both recorded a 13% increase, while oracle leader LINK (Chainlink) rose 10%. The RWA (real-world assets) concept ONDO has gained significant attention from U.S. capital, showing impressive performance. Beyond mainstream public chains, new public chain Sui ecosystem DeFi projects like BLUE and CUTES have also achieved good gains after launching on Huobi HTX, affirming Huobi HTX's ability to accurately capture potential tokens and strategically position itself in quality sectors.

Regulatory Relaxation: New Opportunities for Institutional Entry

In January 2025, the SEC repealed SAB 121, eliminating the obligation for financial institutions to include customer cryptocurrency assets on their balance sheets, significantly lowering compliance barriers. In May, the Senate overwhelmingly advanced the "GENIUS Act" stablecoin bill, establishing a national unified regulatory standard that requires stablecoins to be 1:1 pegged to cash or short-term government bonds and comply with KYC/AML requirements. These two policies lay a solid foundation for traditional financial institutions to legally issue stablecoins and participate in on-chain finance.
Wall Street giant Cantor Fitzgerald took the lead, completing the first on-chain Bitcoin loan transaction with Maple Finance, depositing BTC to earn an annualized return of 4-6%. This move, driven by U.S. Secretary of Commerce Howard Lutnick, highlights traditional finance's confidence in DeFi and signals the beginning of the "on-chain mainstream finance" era. Institutional funds are accelerating their entry into DeFi.

The Institutionalization Wave of DeFi: Upgrading Technology and Credit Systems

Under the policy dividend, institutional-level DeFi applications are rapidly taking shape, with Maple Finance's total locked value (TVL) surpassing $2 billion. MakerDAO's subsidiary Spark invested $50 million in Maple to create on-chain credit products with annualized returns of 10-17%, forming a credit loop that rivals traditional finance. DeFi is moving towards institutionalization through the following mechanisms:

● Sybil resistance and on-chain credit: 3Jane integrates zk technology with FICO scores to build decentralized credit ratings, providing collateral-free USDC credit for small and medium-sized institutions.

● Structured debt instruments (CLOs): Protocols like Maple have launched on-chain CLOs, combining senior and junior bonds to meet different risk preferences, with smart contracts ensuring transparent governance.

● Credit default swaps (CDS): Aave's Umbrella module and Opium's CDS products reduce default risk through automatic triggers and public trading.

● Delegated credit and re-staking insurance: Maple's "pool agent + sub-credit" model expands funding coverage, while SyrupUSDC combines re-staking with insurance pools to enhance capital efficiency.

These mechanisms significantly improve capital efficiency, reduce default risk, and enhance compliance, driving DeFi from an over-collateralized model towards a credit-driven institutional financial ecosystem.

New Trends: High-Dimensional AMM and Modular Stablecoins

The entry of institutions raises higher demands for DeFi infrastructure, revealing limitations in traditional AMMs (like Uniswap V3 and Curve) in multi-asset scenarios. Paradigm's proposed Orbital AMM achieves multi-asset single-pool trading through a high-dimensional spherical model, significantly reducing slippage and improving capital efficiency, outperforming Solana's multi-pool model Perena. Orbital supports a diverse range of assets (such as stablecoins, LSD, RWA), meeting institutional-level needs.

Spark, as the core of MakerDAO's Endgame strategy, has a TVL exceeding $5.9 billion. Through partnerships with Maple, EigenLayer, and others, it is building an on-chain yield and stablecoin engine. Its $50 million collaboration with Maple brings stable returns of 10-17%, boosting the issuance and market demand for DAI/USDS.

The repeal of SAB 121 and the advancement of the GENIUS Act lay the groundwork for DeFi's integration into mainstream finance, with on-chain credit systems and technological innovations reshaping the "on-chain dollar operating system." From high-dimensional AMMs to modular stablecoins, DeFi is moving towards a new phase driven by yield and compliant composability. Huobi HTX will continue to delve into the DeFi field, leveraging cutting-edge insights and a rich product offering to help users seize opportunities in the on-chain financial wave.

About HTX Research

HTX Research is the exclusive research department under HTX Group, responsible for in-depth analysis across a wide range of areas including cryptocurrencies, blockchain technology, and emerging market trends, writing comprehensive reports and providing professional assessments. HTX Research is committed to providing data-driven insights and strategic foresight, playing a key role in shaping industry perspectives and supporting informed decision-making in the digital asset space. With rigorous research methodologies and cutting-edge data analysis, HTX Research consistently stands at the forefront of innovation, leading the development of industry thought and promoting a deeper understanding of the ever-changing market dynamics.

If you wish to communicate, please contact research@htx-inc.com

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