Recent Important Developments in the DeFi Field: Stablecoin Innovation and Multi-Chain Development

New Trends in the Stablecoin Market

Recently, the stablecoin sector has ushered in a new wave of innovation. The USDtb launched by Ethena has garnered market attention, and this stablecoin is supported by digital asset products from a well-known asset management company. Ethena has also partnered with Usual, achieving mutual benefits in total locked value and incentive mechanisms. Additionally, WLFI has collaborated with Ethena to integrate sUSDe into its lending market.

Unlike the competition among stablecoins in previous years, this round of stablecoin projects shows more trends of cooperation. Usual has introduced a multi-party game stablecoin mining mechanism, which is akin to liquidity mining during the early DeFi boom, but with innovations in the concepts of actual assets, the sophistication of game models, and liquidity exit.

Another project worth paying attention to is Resolv, which has seen its total locked value increase by nearly 400% in the past two weeks. Resolv employs a Delta-neutral stablecoin protocol similar to Ethena but introduces a risk liquidity pool (RLP) as a risk buffer layer. This design provides diverse options for users with different risk preferences.

Frax is also making important adjustments, including collaboration with Symbiotic, the launch of the veFRAX multi-yield structure, and considering adding a certain digital asset product to the collateral list for Frax USD.

Development of Multi-Chain Ecosystem

In terms of multi-chain ecosystems, a certain exchange has launched Ink on the mainnet and joined the Super Chain ecosystem. Dinero has introduced the first liquid staking token on Ink. Additionally, Velodrome plans to integrate with Ink in 2025, and Ink has already purchased and locked a large amount of veVELO. This reflects that compliant exchanges are actively laying out their own Layer 2 networks, which is expected to become an important trend in the coming years.

Convex and Yearn have joined forces to launch the decentralized stable protocol Resupply, which uses reUSD, a stablecoin generated from the earnings of the lending market, as collateral and provides built-in leverage functionality, showcasing an innovative attempt at traditional Decentralized Finance projects.

GammaSwap is about to complete the development of Yield Tokens and enter the auditing phase. The project focuses on hedging impermanent loss, achieving a profit and loss curve similar to options through the lending and restructuring of LP tokens.

Other Important Developments

• Ethena has proposed a new plan to integrate options and perpetual futures with Derive. If approved, Derive will become the on-chain hedging and foundational trading platform for Ethena's large-scale total locked value.

• Aptos announces management changes, the new CEO states that there will be a greater emphasis on Decentralized Finance development.

• Babypie incentivizes mBTC-BTC liquidity on multiple public chains and decentralized exchanges.

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

• A certain public chain foundation has launched a new infrastructure construction plan, while multiple DeFi projects have announced new developments on the chain.

These developments show that the DeFi field is undergoing a new round of innovation and expansion, with stablecoins, cross-chain collaboration, and the integration of traditional finance and crypto technology becoming current hotspots.