DeFi, which is "applauding but not sitting", is brewing the next explosive point?
Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Chatting with Xiaozha (ID: xiaonazha88)
Chatting with Xiaozha (ID: xiaonazha88)
, reprinted by Odaily with authorization.
DeFi has been very hot recently, and I have also sorted out many articles about DeFi. Second-tier exchanges are frantically chasing new DeFi projects.
On DeFi, what is the effect of making money? So I did a rough survey of how much everyone earned on DeFi? And calculated the money-making effect of DeFi.
In fact, there are not many people who really make a lot of money. Everyone is waiting and looking for the next DeFi explosion.
From my personal point of view, if DeFi wants to start a model with a real money-making effect, it still needs to accumulate. The development of DeFi in the past two years can be regarded as laying the foundation for the industry. The popularity of COMP can be regarded as attracting funds and talents for the industry. The explosion of DeFi still needs to be settled. The next project that allows most people to make money will be more profitable. Everyone rush up. And now is indeed a good time, you can get dividends early, but you need patience.
Opinions don't matter, they can all be wrong. The logic is as follows:
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1. The pros and cons of the money-making effect
The good side: the bubble and money-making effect can attract a large amount of capital and personnel to enter the market. For the industry, the admission of capital and personnel can promote the rapid development of the industry.
The bad side: The bubble will burst, and some people and institutions will inevitably become stepping stones for the development of the industry, leading to some human tragedies.
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COMP was launched, priced at US$18.4, and rose to US$385, an increase of nearly 21 times.
BAL was launched, the seed round was $0.6, and the highest rose to $22, an increase of nearly 40 times.
2. Have you made money playing DeFi?
After DeFi became popular, the three newly launched currencies rose gratifyingly, namely COMP, BAL, and OKS. The gains are as follows.
COMP was launched, priced at US$18.4, and rose to US$385, an increase of nearly 21 times.
BAL was launched, the seed round was $0.6, and the highest rose to $22, an increase of nearly 40 times.
OKS was launched, private placement was $0.025, and the highest rose to $0.075, an increase of nearly 3 times.
These three coins, COMP, I went to mine, and the other two did not participate. So did the people involved make money?
1. Wechat group survey
I asked the same question in an active DeFi group and the OKS project group, how much did everyone earn on the new DeFi project.
Some friends caught OKs and earned more than 1 times, but most of them still didn't. Of course, 1 times the profit is already very high, but compared with the ten times the income of ICO, the current DeFi project has not yet made the participating masses earn a lot of money.
Of course, this survey is very one-sided. In order to prove my point of view, I will use COMP to do the math.
2. Calculate the money-making effect of COMP
The private placement of COMP is only given to early investors, while other users can only purchase in the secondary market or participate in mining. Most buyers in the secondary market run away after making a little money, and few can get high prices.
Assuming that COMP is calculated at an average of 250 US dollars, then the average COMP income generated by 1 US dollar investment is: 43970*250/(626 million-090 million)=0.02 US dollars. This short-term money-making effect is not strong.
For BAL, the effect of OKS mining to make money has just been launched, and it needs to be observed again.
I don’t think there are too many DeFi in the group. In fact, judging from the chat feedback in the group, except for some project groups that are relatively active, other groups are basically relatively quiet.
Therefore, my personal opinion on DeFi at this stage is: applause but not sit down, the effect of making money is accumulating praise.
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3. DeFi is gaining momentum and accumulating explosive power
After more than two years of development, DeFi has gradually improved in terms of ecology, and there are many projects; in terms of market value, it has gradually increased.
At present, DeFi has entered a state of preparation and adjustment, and reserves energy for the next charge. Why do you say that?
From three perspectives: 1. DeFi market value; 2. Market recognition of DeFi governance tokens; 3. New DeFi project development.
1. COMP, push the market value of DeFi to a new level, take a break
The popularity of this round of DeFi is attributed to COMP, which pushed the market value of DeFi from 2 billion US dollars to 6 billion US dollars. The lock position in DeFi has also been pushed to a new level. As shown in the figure below, it shows the total locked-up value of DeFi. From the curve, it has begun to enter a phased stable period.
The gold-absorbing ability brought by COMP to compound has also begun to weaken. The figure below shows the lock-up amount of compound, which has also entered a stable period. After all, the profit margin of compound has dropped greatly. For example, the annualized rate of USDT has dropped from 11% to 2.83%, and the reward of COMP has plummeted.
After running for a while, I need to rest and adjust.
2. Leading exchanges are entering the market one after another
The COMP token has been listed on Coinbase and Binance successively, and OKex was launched yesterday, which means that the DeFi governance token has been recognized by the first-tier exchanges, and it will bring traffic and funds to the DeFi governance token.
3. New DeFi projects need time to prepare
I have seen it one after another in the past few days, and have counted the development of DeFi projects from different angles, most of which are previous projects. Of course, many projects are planning to issue tokens, and a wave of token issuance is also coming. But the new DeFi project is actually insufficient.
From a domestic point of view, a rough statistics of domestic DeFi projects include: dForce, nerve, NEST, DDEX, MCDEX, For, Codex, DeFiner, etc. (not comprehensive). Say more and say more, say less and say less.
The important point is that the logic of doing DeFi projects has changed from the previous ICO and IEO. To actually come up with something, you have to have products, on-chain applications, and stories. For the specific logic, see "From Altcoins, ICOs to DeFi, These Changes in the Gameplay of the Currency Circle".
