As the cornerstone of the $ETH ecosystem, DeFi 1.0 may be ready for repricing.
Author: Crypto, Distilled
Translation: Deep Tide TechFlow
Recent news about the $ETH ETF has sparked significant market attention on $ETH beta. However, in the context of high demand for high-quality, highly liquid tokens, where are the best opportunities?
Despite being rich in truly valuable projects, DeFi 1.0 may be overshadowed by high-risk speculative projects and popular but lacking substance memes. The following are key points:
- $UNI DEX
L2 trading volume has surged by 650% in the past two years.
Uniswap V4 is scheduled to be launched in the third quarter.
The DAO proposed to activate a "fee switch" of $3.3 billion in February.
Received a Wells notice in April.
$UNI responded, claiming that 65% of its trading volume includes explicitly non-securities.
- $AAVE - Money Market
The third-largest DeFi protocol, with TVL exceeding $10 billion.
Approved to deploy Aave V3 on Solana in the first quarter.
Released a unified cross-chain liquidity solution Aave V4 on May 1st; prototype design starts from the fourth quarter.
Aave's TVL has almost doubled since the beginning of the year.
- $ENS - Domain Name Service
In February, ENS partnered with GoDaddy to simplify the link between wallets and web pages.
In March, Google integrated wallet balances with $ETH Name Service (ENS) domain names.
- $LINK Oracle
In April, $LINK launched the cross-chain bridge application "Transporter" to enhance token transfer security.
In May, DTCC completed a pilot with $LINK to accelerate the tokenization of funds across multiple blockchains.
Participants include Franklin Templeton, Schroders, JPMorgan, and BNY Mellon.
In May, $MKR announced their "endgame" strategy.
Launched two new stablecoins: NewStable and PureDAI, to surpass $DAI.
NewStable focuses on utility and scalability, supported by RWA.
PureDAI aims for decentralization, supported by assets such as ETH.
- $LDO Dominant Liquidity Staking
In February, the TVL of $LDO exceeded $30 billion.
By April, $LDO had reached 1M+ validators.
As a leading liquidity staking protocol, $LDO manages over 25% of all staked ETH.
Tailwind: The growth rate of ETH staking is 20 times the issuance speed of $ETH.
Final Thoughts
As the cornerstone of the $ETH ecosystem, DeFi 1.0 may be ready for repricing.
The market landscape is dynamic; exercise caution and prudence as the ETF develops.
As always, this is not financial advice.
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