The partial bull market of DeFi indicates that the status of the overlord of the Ethereum public chain is firmly welded again?
Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc), Author: Five Fireball Leader, reprinted by Odaily with authorization.
Editor's Note: This article comes fromVernacular Blockchain (ID: hellobtc)Vernacular Blockchain (ID: hellobtc)
, Author: Five Fireball Leader, reprinted by Odaily with authorization.
In a previous article "
", as we said, what we can see in the second half of the year are the following:
ETH2.0, Filecoin, Polkadot, DEX, the continuation of DeFi, etc...
Careful readers may have discovered that in this article, several outlets in the past few years are all short-lived, and the life cycle is usually only a few months. Among the major trends in the second half of the year, only DeFi, the author used the word "continuation", and continued to put DeFi, which was already a trend in the first half of the year, in the second half of the year to show its tenacious vitality
So what exactly is it, the vitality of the current DeFi is far better than the previous outlets?secondary titleDeFi's partial bull market has arrived
If you have mainstream currencies such as BTC or ETH, or platform currencies such as BNB and HT, the past month should be a calm month for you, as long as you do not touch contract leverage.
1.However, if you read the last article and buyDeFi-related currencies
, Whether it is MKR, Lend, or REN, Bancor, or KNC mentioned in the article, these 30 days should be 30 days of earning a lot of money.
In addition to the "amazing performance" of several major DeFi major currencies in the past 30 days, many other data also indicate the arrival of a partial bull market for DeFi.
DEX currency price and transaction data
- It can be clearly seen that in the past few months, the increase of DEX tokens has far exceeded the increase of traditional CEX major trading platform tokens, and this increase is mainly due to the continuous increase in DEX transaction volume.
2. Number of people in DeFi - According to recent statistics, the number of independent addresses on Ethereum has exceeded 100 million, the number of addresses holding ETH is nearly 40 million, and the cumulative number of users who have participated in the DeFi platform is close to 200,000.
Although it is only 200,000, although it is a cumulative amount, compared with a year ago, it is still a statistical curve that is rising rapidly.
Coinbase likes to regularly grab some high-quality coins and put them in the inspection area, and then find one or two of the best quality from the inspection area every few months, and launch its own trading platform for global users to buy and trade.
It is very interesting that if you look at the inspection area last year and the current inspection area, you can see a big difference.
The inspection list in September last year: almost all public chains
The latest inspection list: half of the country has become DeFi
secondary title"1. Ethereum needs a story - Global Settlement Layer"becomeThe story of Ethereum's first global computer was shattered by poor performance.And in 17 years
baffling
become
One-click coin issuance
After the tool, Ethereum also "inexplicably" became the settlement currency in the circle at that time, not the settlement layer, but the settlement currency.
For quite a long time after the ICO bubble burst, Ethereum seemed to have lost its direction, which was also the most arrogant stage of various "Ethereum killers".
Finally, the rise of the DeFi concept has brought a new story to Ethereum: the global settlement layer!
Proponents say DeFi saved Ethereum.
Skeptics say that DeFi is nothing but Ethereum's self-help concept after the DApp concept became cold on Ethereum.
But in any case, Ethereum has found a new story, and this story is currently developing in a good direction, both in terms of concept and data, and it has re-established ETH as the "king of public chains" throne.For the currency circle that pays attention to "market dream ratio" rather than "price-earnings ratio", the story is really too important.2. The story allows many people to participate, and many people actually profit from it
I just mentioned the concept of "market dream rate". Indeed, this is the most important thing in the currency circle.
The wave of crazy bulls in 17 years and the popularity of public chains in 18-19 are all brought about by the "market dream rate"
Fomo emotions
As a result, a bunch of public chains or DAPPs, without any profit or even a white paper, are easily valued at tens of millions or hundreds of millions. Now that I think about it, it is really ridiculous.In 2020, the market dream rate is finally not so easy to use, and people begin to pay attention to those blockchain projects that can be implemented, have traffic from users and even be profitable.DeFi undoubtedly meets this condition.
Whether it is the platform currency of various decentralized trading platforms, or financial DeFi projects such as casting stable coins, its users all exist, and the project itself is profitable, which is similar to the destruction or repurchase model of platform currencies such as BNB and HT .
And more importantly, as an ordinary blockchain user, everyone can participate in DeFi. Recently, the hot
AMM automatic market maker mode
And the rise of the concept of liquidity mining has once again greatly strengthened the sense of participation of DeFi users.
Ever since, the story is no longer flying in the sky in vain, but actually falls at our feet.
3. Accurate users - To B or To C
Amazon, with a market value of trillions, what is the most powerful business now?
You may only know or use their online store, indeed, Amazon made their fortunes on this, and selling things is still the largest business.
However, in terms of profit contribution, Amazon Cloud AWS accounts for more than half of the entire Amazon profit.
Have you ever used AWS, or the domestic Alibaba Cloud? I think most likely not.
When it comes to DeFi, although users still cannot be regarded as To B, these users really have the real needs of DeFi market making, arbitrage and other aspects. Just like the user groups that AWS faces, one is various enterprises that need to move their websites or IT systems to the cloud, and the other is some professional IT practitioners.bitcoin。
So DeFi can be regarded as the first time that the blockchain has found a group of professional users between To B and To C, and the number of these users is steadily increasing.
4. What the blockchain is originally good at may be finance
Who is the originator of blockchain?
bitcoin
This attribute of the originator Bitcoin may also be destined to the field where the blockchain can best play its strengths, which should be finance.
As for other aspects, of course, it is not impossible to do it. The outlets in the next 1-2 years, including storage, games, NFT, DAO, etc., are all good concepts.
However, they may have to wait for initial success with blockchain in the financial sector before they can hope to grow.
This also leads to the last question, that is, whether the future of DeFi is bright and bright, where is its ceiling?
secondary title
The imagination and ceiling of DeFi-how long can this thing be popular?
This starts with a recent piece of news:
“The MakerDAO community has voted to put Real Assets (RWA) as collateral.
The vote showed community support for two new staking proposals by startup Centrifuge that allow users to convert real assets into securities that issue interest-bearing ERC-20 tokens. Currently, the company has partnered with Paperchain and ConsolFreight to support the tokenization of trade invoices and music royalties. In the future, users will be able to lend DAI through real assets. "
You see, the current DeFi basically relies mainly on pledged ETH to generate DAI minting, leverage, synthetic assets and other operations.
So the visible ceiling is roughly equal to the amount of pledged ETH, which is now almost 1 billion US dollars.
The entire DeFi market has a market value of almost US$2 billion.After ETH, MakerDao first introduced BAT, 0x and other encrypted assets, and after 312, introduced USDC. Now, tokenized out-of-circle assets have finally been introduced into the DeFi ecosystem for the first time in history.The first step (currently) of DeFi is to erode the share of CeFi in the circle.
The second step in the future is to go out of the circle and erode the share of traditional finance.
Of course, there may be many paths. At present,
Assets on the chain
This matter may not be feasible in the short term, but if assets outside the circle can enter the circle as collateral assets for synthetic stablecoins, then this imagination space can be almost infinite.
It is now possible to tokenize trade invoices and music royalties to generate stablecoins.
Is it possible in the future to tokenize stocks and use them to mint Dai?
And the most suitable to enter the circle, the most suitable to form a stable currency, which is the most liquid asset in the world, guess what?
