Hot spots, bubbles, cold thinking behind the DeFi boom

深潮TechFlow

2020-07-27 18:26 (UTC+8)

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"When you see a DeFi project, there are two steps: 1. Direct money; 2. Forced to get rich."

Editor's Note: This article comes fromDeep tide TechFlow (ID: Tech-Flow), Author: Song Xiaowan, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Deep tide TechFlow (ID: Tech-Flow)

, Author: Song Xiaowan, reproduced by Odaily with authorization.

At the beginning, everyone thought that DeFi was the antidote for the currency circle.

After the "3.12 crash", the currency market was sluggish, investment sentiment was sluggish, the DeFi ecosystem encountered a liquidity crisis, and the value of locked positions rose from 1.16 billion to 740 million US dollars.

However, although MakerDAO’s liquidation activities caused the agreement to lose 5.67 million US dollars, half a month later it auctioned more than 5 million US dollars of DAI, which surprised everyone in one go.

After 312, it was the recovery of the currency market and the recovery of DeFi.

After "312". It took two months for the locked-up value of DeFi to recover to US$1 billion. One month later, the market value exceeded US$2 billion. Later, it took only 20 days to go from US$2 billion to US$3 billion.

The explosion of DeFi is not only due to its return of value, but also to the trend of "liquidity mining" led by Compound.

Today, taking advantage of the upsurge of DeFi, major public chains and exchanges are using the concept of DeFi. Ten times currency, hundred times currency, investors are looking forward to reappearing the miracle of ICO on DeFi.

But the author believes that DeFi is not an antidote, but an aphrodisiac. Everyone wants to use its power to obtain a temporary orgasm, but after using it, it will become more powerless.

Now, the effect of DeFi medicine has reached the second half, can the currency market continue to take advantage of DeFi to soar into the sky?

secondary title

Everyone wants to rub DeFi

On April 14, the total market value of DeFi tokens was US$1 billion, and on July 22, the market value exceeded US$10 billion.

In more than three months, the market value of DeFi tokens has increased by 10 times.

The circle of friends saw such a "joke" that the market value of DeFi projects will increase by 10 times in the next three months to six months. The reason he gave is: not because DeFi projects are really going to skyrocket, but like the previous currency reform, Chain reform, transaction mining, and business models are the same, and various companies are chasing hot spots one after another, making DeFi one by one.

Yes, inspired by wealth, recently many projects have suddenly taken off their previous "game" and "gambling" coats and announced that they are doing DeFi. Of course, the late but late grandson Justin Sun is indispensable.

On July 21, Justin Sun announced the latest development plan of TRON’s ecological products in Moments:

1. JUSTswap (Tron’s version of Uniswap) will be launched on August 17;

2. USDJ JST staking mining will be launched on August 31;

3. TRX will officially enter the blockchain oracle market on August 31.

Under the lure of the wealth effect, DeFi projects that did not issue coins before have issued coins on exchanges one after another; projects that were not originally DeFi have also begun to claim that they are DeFi concept coins.