Can't keep up with "liquidity mining"? Why not study where the next DeFi is
Produced | Odaily (ID: o-daily)
Produced | Odaily (ID: o-daily)
The speed of DeFi soared, and just when the "classic leek" couldn't hold back and was about to enter the market to take over for the "new leek", YAM suddenly collapsed, and all the DeFi tokens killed were wiped out.
While the old leeks are hesitating whether to enter the market at a low price, they are also working hard to study the "next opportunity". And Leek, who is already on the DeFi car, is more or less skeptical about where this car will rush.
"The construction of DeFi is not a matter of a day or two. To a certain extent, there will be bottlenecks, and the trend in the encryption field will also change periodically."
"It is a stock game at present, and the DeFi market is coming to an end."
image description
The price of the currency has not moved, and the P chart is ahead
Under the shouting, in the past week, the leading currency of DAO has increased by 1-3 times, and the increase of NFT concept currency has been nearly doubled, and exchanges such as Binance have "strongly recommended".
secondary title
Does the "metaphysics" DAO have any ideas?
DAO (Distributed Autonomous Organization), Chinese translation distributed autonomous organization, is a bit of "metaphysics".
If the birth of Bitcoin is to transform the monetary system, then DAO is aimed at optimizing the organizational system.
From small families, enterprises, institutions, to large government agencies, they are all an organization. So what does going to the center bring?
In short, DAO operates through smart contracts, members can join & exit freely, organizational rules can be customized, codes are open and enforced, human operations are eliminated, there is no legal entity, and no one can intervene.
This is simply the "utopia" of the 21st century. Because of this, in 2016, the founder "The DAO" was able to rake in 160 million US dollars with "decentralized VC", becoming the largest ICO in history at that time.
Although "The DAO" died before it started, for the actual organizational system, DAO is still full of potential charm for change.
Before that, DAO has become an integral part of many projects with the construction of the world on the chain in the past 4 years.
For example, public chains such as Nervos, IoTeX, and aelf have set up DAOs in the community to lock, destroy, and manage foundations. DApps such as the Ethereum-based labor matching market LexDAO, decentralized VC PieDAO, and DeFi projects such as MakerDAO, KyberDAO, Synthetix, Aave, and CurveDAO are all using DAO to complete daily operations and discussions. Even the tipping point of this DeFi is the issuance of incentive governance tokens by Compound.
Therefore, some optimistic DAO believers believe that as the wave of DeFi governance token issuance continues, there will be a large demand for governance tool platforms, and the popularity of DAO will sooner or later.
So for investors (xin jiu cai), among the thousands of DAOs, which coins should they pay attention to?
DAO projects on the market are mainly divided into two categories:
One is a general-purpose DAO platform, with major players including Aragon (ANT), DaoStack (GEN), and Kleros (PNK);
The other type is special-purpose DAOs, such as MakerDAO, KyberDAO, Synthetix, Yearn.finance and other embedded DAOs, all of which are designed to achieve their own specific functions, and their price rises and falls do not necessarily follow the DAO "concept section", but more Follow its main business, such as lending, payment, etc., or whether to launch "powerful stimulants" such as liquidity mining, I won't go into details here.
Let's take a look at the three original DAO platforms.
In general, the three major platforms were established earlier, and the highest increase so far can reach 23 times (PNK), and the lowest increase is GEN (-31%), which is still in the breakout state. The market value of both of them is more than 20 million US dollars. The market value of Aragon (ANT), the leader of DAO, is more than ten times that. The 1-month increase reached 410%.
Where is the power of this leader? Odaily was in"Still saying that governance projects are not sexy? This DAO has attracted 7 million US dollars in half a year"As detailed in the article, Aragon is positioned as a DAO "manufacturing factory", where you can create and operate a DAO with a few minutes and a few dollars (provided the gas fee does not skyrocket).
As a project of the same period as The DAO, Aragon raised $25 million through ICO and launched its mainnet at the end of 2019. As of the end of May this year, more than 5,700 addresses have created/participated in about 1,400 Aragon DAOs, with digital assets under management amounting to $7 million. The above-mentioned Aave, CurveDAO, Synthetix, etc. are all created based on Aragon.
In Silicon Valley, Aragon, a high-availability innovative project, also has many fans such as the godfather of Silicon Valley venture capital Tim Draper, New York venture capital fund Placeholder, CoinFund, and Silicon Valley venture capital firm BoostVC.
In October last year, Aragon suddenly announced that it would develop its own sidechain based on Cosmos, which caused quite a commotion in the Ethereum community. But this decision is mainly to avoid the risk of a single platform and reduce the cost of users. Today, when the Gas of Ethereum is skyrocketing, Aragon's choice is not unwise.
DAODaoStack (GEN) is similar to Aragon, and is also positioned as a DAOs construction framework and platform. Kleros (PNK) focuses on the single function of the on-chain arbitration machine. At present, there are more than 200 jurors on the Kleros Court platform, and more than 150 disputes have been handled in total.
There is no doubt that these tools are very avant-garde and have application scenarios, but in most people's eyes, complete autonomy is as extreme as absolute centralization, and it is very difficult to implement it.
secondary title
Will the niche "chain games" driven by NFT explode?
On the afternoon of August 13th, Binance launched a new round of IEO subscriptions, and the project listed was the NFT token Sand.
At present, the "new currency bull market" has been "highly praised" by many investors, and many investors are also looking forward to the NFT sector. As a result, the trading volume of Sand has soared by 150% on the 7th, and the price of MANA, the "leader" of the old NFT project, has risen by 87% within a week.
NFT (Non-Fungible Token), non-homogeneous tokens, each token is unique, indivisible and exchangeable. It is mainly used in games, artworks, domain names, collectibles, real asset tokenization (STO) and other fields, especially artworks and games.
"CryptoKitties" is the most successful practice among them. As of today, 2.8 million cryptokitties have been sold, with a total turnover of more than 37 million US dollars.
So, how does NFT work, and who will be the next MANA or CryptoKitties?
You may have noticed this problem, since each coin is unique, how to trade on the exchange? In fact, most NFT tokens are not listed on popular exchanges like Binance. Unique tokens are bound to involve selection and bidding, and many of them are even traded in the form of auctions.
Therefore, only a small number of special games with ERC-20 tokens can be launched on popular exchanges, such as the next three top-ranked tokens, ENJ, MANA and FFF.
ENJ (Enjin Coin) relies on Enjin, a world-class online game creation platform. The platform was launched in 2009 and has been in operation for many years. It has 250,000 game community guilds, e-sports teams, game communities, game clans, role-playing groups, fan sites, etc., with 18.7 million registered users and 600,000 monthly UVs. The game asset store in the community sells millions of dollars every month.
As an ordinary ERC-20 token, ENJ can be used to mine unique game assets on the Mint platform, and these assets can be converted into ENJ at any time, so ENJ functions similar to NFT.
ENJ was officially launched in 2017, and its circulating market value has reached hundreds of millions of dollars so far. The currency price has increased by 6.2 times, and the increase in the past month has been relatively low, only 20%.
MANA is the circulation token of the on-chain version of "Minecraft" Decentraland. MANA can be exchanged with the NFT token LAND in the game, thereby realizing the anchoring with special assets and absorbing funds in the market to expand the project.
In 2017-18, there were actually many blockchain projects that told the story of virtual world and real assets anchoring, but only a few have survived to the present, and MANA is the originator of them.
MANA was launched in 2017. As one of the largest "chain games", the market value of token circulation exceeds 100 million, with a cumulative increase of more than 3 times, and the highest increase of 80% in the past 7 days.
FFF is a cutting-edge NFT launched this year. It is positioned on a car racing platform, where unique digital assets such as auto parts can be purchased through FFF.
The current market value of FFF is small, only 1.4 million US dollars, but compared with the issue price, it has increased by 6.2 times, and the trading market is quite concentrated (MXC and Hobbit).
In addition to these ERC-20 tokens that can be purchased directly on exchanges, investors can also go to specific markets (such as the trading platform OpenSea) to buy real NFT tokens.
On the website Nonfungible.com, you can discover the latest, "high-yield" NFT tokens. As shown in the figure below, it can provide investors with data such as the total sales volume and turnover ranking of NFT tokens on the 7th.
As can be seen from the figure above, the art creation & trading platform SuperRare, the on-chain version of "Minecraft" Decentraland, the star card game Sorare, the sandbox game The Sandbox, and Ethereum Name Service 7, which provides unique domain name services for wallet addresses The highest daily turnover.
Among them, Decentraland and The Sandbox are popular in the secondary market, and their turnover has increased by 50% and 150% in the past 7 days, and the turnover of Ethereum Name Service has also increased by 170%.
Overall, only CryptoKitties (US$37 million) and Decentraland (US$24 million) have reached a total turnover of tens of millions of dollars in NFT. Nearly 5 million NFTs were sold in the entire market, with a total turnover of more than 100 million US dollars.
From the perspective of monthly turnover, the NFT market only has a monthly capital flow of 710,000 US dollars, and the market is quite small; but looking at the average price of NFT, the historical average transaction price is 21 US dollars, and it has soared sharply in the past 7 days and 24 hours. The increase reached 4.5 times and 5.9 times, and it seems that there are signs of a large asset premium.
Another imaginative reason for the emergence of NFT is the linkage with DeFi.
Give a real use case. This year, a lending platform called Rocker NFT appeared on the market, allowing users to mortgage NFT to lend DAI.
People's imagination about NFT is that game platforms with NFT assets can also launch governance tokens, allowing game players to plan platform functions and control the rules of the game, which seems to be much more fun than governance of a purely financial project .
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The number of transfers and transaction volume of NFT tokens, data from: dappradar
postscript
postscript
The sudden emergence of DeFi has caused many teams and investors who want to catch the heat to start to engage in "concepts", and there are many speculative teams with mixed fish and dragons in the market.
Including the concepts and projects we mentioned above, there are many people who want to use this to hype. For example, the following two borrowed the "DAO concept" in the group to cooperate with the order, and the judges entered the market cautiously.
There are also investors who see through everything. "To be honest, the current market sentiment is that the exchange can speculate whatever it wants..."
References:
References:
After DeFi, can NFT, DAO, oracle machine detonate the next bull market? 、Blocklike;
After DeFi is another hot spot that is exploding, this time the imagination space is much larger? , vernacular blockchain;
DeFi is hot, and the DAO project rose 7 times in March. Will it be the next hot spot? , Pocket little Nezha;
Similar to Taobao's NFT exchange, the scale of 300 million transaction volume has initially formed and standardized blockchain;
Do you remember the world of CryptoKitties NFT, it can also be combined with DeFi to run finance and economics;
