DeFi coins are crazy, and the total market value doubled to exceed 2.4 billion US dollars in two months. If you don’t pay attention, you will miss the bull market?
Editor's Note: This article comes fromHot Wheels Community (ID: FHBT18), Author: Pepe, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Hot Wheels Community (ID: FHBT18)
Hot Wheels Community (ID: FHBT18)
, Author: Pepe, reproduced by Odaily with authorization.
In the recent small wave of copycats, there is one piece of popularity that cannot be ignored, and that is-defi currency.
Recently, almost all the concepts with DeFi have performed well. There is a website dedicated to DeFi rankings, and the total market value of related conceptual currencies is still 1 billion US dollars on April 14, but it has reached 21 as of yesterday. billion, nearly 2.2 billion U.S. dollars, doubling in less than two months.
Comparable to the performance of defi coins is that the value converted into US dollars locked in defi has also recovered since the March crash and returned to around 1 billion US dollars:
A lot of friends told me before that they always heard about this defi, what distributed finance, and it was confusing. The conceptual ones actually do the trading, lending, leveraged derivatives and other activities of the exchange, but they build the things of the exchange system on the blockchain, and all your operations are carried out through smart I don’t know if it’s easier to understand if it’s a contract.
In addition, the vast majority of defi coins are used in similar ways to platform coins, for example, they can share profits after staking, participate in voting governance, and so on.
Judging from the recent doubling, the defi category is still quite popular with market funds. At least during the period when no other killer applications have been born on Ethereum, the visual popularity is still continuous. In order to prevent everyone from missing the hot spots of the bull market, here is today Sort out some information about the current DeFi market for your reference.
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A user named Ceteris Paribus summarized the performance of some defi currencies this year based on a third-party website, as shown in the figure below:
The abscissa at the bottom is the market value range, and the ordinate is the rise and fall from January 1 to June.
It can be seen that most of them belong to a growing profit state. From the perspective of market value, the performance of targets with a market value in the range of 10-30 million US dollars at the beginning of the year is more prominent.
From the perspective of the fundamentals of the target, most of the more prominent ones are also accompanied by benefits such as the launch of the main network, and BNT/LEND/KNC, etc., have some changes in the functional structure of tokens, such as the opening of mortgage voting.
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2. The top ten rankings of defi categories on Ethereum
Defi ranking newly opened website:
Above, I roughly divided the main businesses involved in the top ten DeFi currencies. At present, although DeFi has been very popular in the past two years, when it comes to such currencies, the number is actually not many, and a considerable part of them are only Apps or platforms do not issue coins.
The top ten by market capitalization basically includes projects that are more active, mature, and relatively reliable now, and because Ethereum is now the largest DeFi platform, so if you choose currencies in this direction, then these are the current can be given priority.
And in terms of market value, the head effect is also obvious. Xiang Maker almost accounts for a quarter of the total market value, and other data such as trading volume and transaction volume can also account for about half of the left and right platforms.
So defi is still very new, and the overall volume is not large.
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With so many coins, it may be easy to get confused. Let’s classify them together. At present, there are three main types of defi stories:
Coinless projects: Compound, dYdX, bZx, Nuo network
a. Mortgage lending (leverage)
This is like the Maker we are familiar with. You can borrow a certain amount of DAI (stable currency) by mortgaging eth. It can provide some lending financial services. For example, if you don’t want to miss the bull market because you are in a hurry to sell coins, you can use this method. You can use the money first, and then redeem the coins later, but now most of them are also used as leverage.
Coinless projects: Compound, dYdX, bZx, Nuo network
Projects that issue coins: 0x(ZRX), Kyber(KNC), Loopring(LRC), Bancor(BNT)
(Here I am mainly looking for relatively familiar projects, which may not be perfect, and welcome to add below)
b. Decentralized exchange tokens
This is easy to understand, similar to platform coins, their coins mainly represent some rights and interests on the platform, and mortgage sharing.
Projects that issue coins: 0x(ZRX), Kyber(KNC), Loopring(LRC), Bancor(BNT)
c. Derivatives (Options Futures Market)
This kind of leverage is not the same as the leverage generated by the mortgage. It is closer to the contract of the deposit method that you play in the exchange, and they are moved to the chain. In addition, these tokens can also be synthesized (or understood as " Settlement") other assets in reality, such as gold, stocks, etc.
There are not many concept projects, but in the past two years, the concept speculation has been a bit crazy. If you are interested, you can pay attention to the newly released similar concepts.
Projects that issue tokens: Synthetix (SNX), UMA, Opyn (Opyn seems to have a complicated token model, so I won’t introduce more for now, and this part is not listed on mainstream platforms)
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Current Views on DeFi Projects
My personal opinion on this area is that it may be worthy of attention now, or there may be ten times or dozens of times projects in this field in the future bull market, and there may even be a legend like IOTA. After all, the initial market value of this place They are very small, but don't get too involved, the probability of seeing the bubble burst is not small.
1. The market can choose to forget the problem of 312, but we must be clear that many problems have not been resolved in these two months, and they will still explode when they encounter a liquidation.
2. Everything will not be fairer because of smart contracts and decentralization. It is not difficult for defi projects to make data look good.
For example, dex can make a profit by charging fees. I remember that I translated an article earlier on the valuation of defi’s cash flow calculation price-earnings ratio. How big is it, is it really possible to calculate the profit margin based on the transaction volume.
3. Compared with the centralized method, does defi have enough advantages?
epilogue
One of the original advantages of defi is that it can be trusted, but like lending and financial management, now mainstream users have trusted platforms and are launching many products. For the circle, it is not necessary to choose a defi platform, or even a defi platform It is even more troublesome, not only in the custody of the private key, but also in the trust of the team. Hackers are likely to direct and act on their own.
