Latest Updates in the DeFi Field: Stablecoin Boom and Superchain Expansion

Recently, the DeFi market has entered a new wave of development, mainly focused on the expansion of stablecoin projects and superchain ecosystems. Below are the important developments in the DeFi field over the past week:

The stablecoin market welcomes new players

Ethena has launched a new stablecoin USDtb, supported by a product from a well-known asset management company. Ethena has also partnered with Usual, with both parties strengthening their market positions by providing each other with TVL and incentives. Additionally, WLFI has joined Ethena's collaboration, integrating sUSDe into its lending market.

Unlike previous competition among stablecoins, this round of stablecoin projects shows a clear trend of collaboration, with strategies being more mature and robust. Usual has introduced a multi-party game theory stablecoin mining mechanism, which is reminiscent of the Pool1-3 model from the early DeFi Summer period, but has improved in terms of the concept of physical assets, the sophistication of the game model, and liquidity exit channels.

Resolv, as another highly关注的 stablecoin project, has seen its TVL grow by nearly 400% in the past two weeks. Resolv adopts a Delta-neutral stablecoin protocol and introduces a Risk Liquidity Provider (RLP) mechanism to absorb market volatility risks. This design offers more choices for users with different risk preferences.

Super Chain Ecosystem Continues to Expand

The Ink network developed by a certain exchange has officially launched its mainnet and joined the superchain camp. Dinero has subsequently launched the first LST (liquid staking token) on Ink. At the same time, Velodrome plans to integrate with Ink in 2025, and Ink has purchased and locked a large amount of veVELO tokens. This reflects the trend that compliant exchanges developing their own L2 networks has become a trend in the coming years, while Velodrome, as the liquidity center of the superchain, may expand its influence through direct integration rather than forking.

Innovation of Traditional DeFi Projects

Convex and Yearn have teamed up to launch the decentralized stable protocol Resupply, whose core product reUSD is a stablecoin generated from the lending market as collateral, and it offers a built-in leverage loop feature. This innovation combines the advantages of traditional DeFi, bringing new possibilities to the market.

GammaSwap is about to complete the development of its Yield Token and has sent it for audit. The project focuses on hedging against impermanent loss, achieving an options-like yield curve through the lending and restructuring of LP tokens.

Other developments worth noting

1. Ethena is considering integrating a certain options and perpetual futures platform to enhance its ecosystem's capabilities.

2. A certain public chain project has undergone a leadership change, and the new CEO stated that they will place greater emphasis on the development of Decentralized Finance.

3. Babypie incentivizes the mBTC-BTC liquidity pair on multiple chains and DEX.

4. Fluid expands to the Arbitrum network and implements growth incentives.

5. A certain public chain foundation has launched a new infrastructure construction plan, while multiple DeFi projects have announced cross-chain expansion plans.

Overall, the DeFi market is undergoing a new wave of innovation, with stablecoin projects and Layer 2 solutions becoming the current focus of development. With more participation from traditional financial institutions and the application of new technologies, the DeFi sector is expected to welcome greater development opportunities in the future.