overview
overview
Decentralized finance (DeFi) will explode in 2020-2021, and the value of DeFi is mainly deposited in DEX. According to the latest data from defillama, as of April 2022, the total lock-up value of the DeFi market is US$209.52 billion, an increase of nearly 290% from April last year. In terms of data, the trend of the entire DEX industry is upward, but factors that affect the activity of trading activities still exist.
first level title
Astroport
Website address: https://astroport.fi/en
Astroport was incubated by IDEO CoLab Ventures and worked closely with Terraform Labs, aiming to become Terras next-generation automatic market maker (AMM), supporting the issuance and exchange of application assets on the Terra chain.
core team
core team
Astroport is constructed and developed directly by Terraform Labs (Terra developers). Evan Kereiakes, Do Kwon, Marco Di Maggio, and Nicholas Platias are among the core figures of Terraform Labs.
economic model
economic model
$ASTRO
Many DeFi protocols assign governance rights to AMM liquidity providers, and Astroport owns the governance token $ASTRO, which is distributed to LPs through liquidity mining. The maximum supply is 1 billion, and the circulating supply is 120 million pieces, which are distributed as shown in the figure below:
Token distribution is designed in such a way that the Terra community has a voice. After the lock, the community will have 110 million ASTRO (11% of the total supply), and another 49% of the supply will be allocated to Astroport LP over 69 years. 10% of the supply is reserved for Astral Assembly (aka Astroport DAO). The rest is allocated to Astroport builders with a 3-year lock-in period.
There are three tokens on Astroport, namely ASTRO, xASTRO, vxASTRO
ASTRO——LP users can obtain ASTRO by providing liquidity, and only have governance rights.
xASTRO - Obtained by locking ASTRO, holding it to get a share of transaction fees, similar to Sushiswaps xSUSHI.
Project Benefits
Project Benefits
Multi-pool support
concentrated liquidity
concentrated liquidity
Cross-chain
Cross-chain
secondary title
Agreement status
On April 12, 2022, Astroport became the second-ranked DEX in the world with a 24-hour trading volume of US$569 million, and the agreements average trading volume in March was US$240 million. This is a 54% increase from February, with Astroports total value locked (TVL) now at $1.5 billion, up 33% from February.
Project Summary
Since the beginning of this year, Terras ecological native Token LUNA has achieved explosive growth. The Terra ecosystem has begun to take shape. The decentralized investment platform Mirror and the fixed-rate lending project Anchor in its ecosystem have achieved good development. Astroport has maintained a good growth in TVL since its launch. It integrates the best algorithm, which can improve transaction efficiency very well. At the same time, the excellent UI makes the lock-up amount, yield rate, income amount and risk exposure clear at a glance.
first level title
EdgeSwap
Website address: https://www.edgeswap.io/
core team
core team
economic model
economic model
The native token of EdgeSwap is EGS, with a total of 1 billion pieces. The specific distribution is as follows:
Project Benefits
Project Benefits
EdgeSwap improves on ZK Rollups:
The payment system is built on Ethereum layer 2, with second-level confirmation and 0 Gas fee.
Withdrawal can be realized in a few minutes through ZK Rollup - the speed of transferring funds from Layer 2 to Layer 1 is 3-5 times that of traditional solutions, reducing gas costs by 98%.
You can stake and earn rewards on Layer 2 by optimizing the execution environment loop.
When Layer 2 fails, users can obtain data from the transaction records of the contract to restore the Layer 2 state tree, and can generate certificates to retrieve funds.
Agreement status
According to the official website data, as of April 13, 2022, the liquidity pool has $300 million in funds, but it is worth noting that the 24H traffic and transaction volume are not high and are at a low level. The TVL data is inaccurate and the protocol is in beta.
At this stage, the network is still in the public testing stage, and the execution and voting mode of the main network TGE are being prepared, and the burning mechanism of the NFT bridge will be improved in the next quarter.
Project Summary
first level title
CoW Protocol
Website address: https://cow.fi/
core team
core team
economic model
economic model
CoW Protocols native governance token is $COW with a total supply of 1,000,000,000 (1 billion)
COW tokens will give their holders voting rights within CowDAO. The main purpose of CoWDAO is to manage the basic infrastructure components of the CoW protocol ecosystem, including:
System parameters
CowDAO will take care of all system parameters such as the objective function for solution scoring and solver pruning conditions.
Khazanah and agreement revenue
pledge
pledge
CoW protocol solvers are incentivized to compete to provide the best solution by capturing participation value. This could come in the form of transaction fees, solution token rewards, or both. Solvers may need to stake COW to participate in solution submission. CoW protocol users will be able to lock COW tokens for transaction fee discounts. This provides a tangible utility to the token that facilitates all CoW transactions.
Fees and Incentives
Project Benefits
Project Benefits
Matching of needs (CoWs) is the most innovative aspect of the project. CoW is a settlement that shares liquidity between all orders with matching limit orders. The CoW protocol is not an AMM or CLOB, but uses batch auctions as the core mechanism to facilitate CoW. Using batch auctions can lead to better prices for individual traders and significant savings in gas optimization and liquidity provider fees. In addition, CoW does not require access to on-chain liquidity due to the uniform liquidation price of the batch auction, and the CoW protocol can provide users with a level of MEV protection that cannot be achieved by any other protocol.
The CoW protocol has many benefits both technically and functionally:
Completely permissionless Meta DEX aggregator
Facilitate batch auctions with fair uniform liquidation prices
Transactions are protected by different types of MEV, such as sandwich attacks
Maximize liquidity and gain access to all on-chain liquidity
Fair, decentralized settlement, where an open competition for order matching replaces a central operator or constant function market maker
Agreement status
On February 12th, the airdrop of vCOW tokens will last for two weeks. The received Tokens will be released linearly within 4 years. Holders of vCOW can participate in the governance of CoWDAO to guide the development and direction of its ecosystem.
On March 29th, CoWSwap protocol management team CoWDAO announced the completion of US$23 million in financing, led by 1kx and Delphi Ventures. Funding will be used to develop the CoW protocol ecosystem, hire more team members, drive the projects expansion to new chains where MEV protection is most needed, and expand the protocols marketing campaign.
Project Summary
What CoW Protocol has done solves some problems of the current AMM mechanism to a certain extent. In addition to reducing MEV attacks, it also reduces Gas fees and improves user transaction matching. Investors envision the CoW protocol as the core settlement layer for decentralized transactions across Web3. Through CoW Protocols batch auction, traders can obtain significantly better prices through P2P transactions, share execution costs together, and avoid value extraction by rent-seeking third parties.
first level title
MAD Bucks
Website address: https://mm.finance/
core team
core team
economic model
economic model
MMF is the core token powering the MM Finance ecosystem and a utility token with a total supply of 500,000,000 pieces
Project innovation
First of all, MMF (formerly known as Croswap) is the first AMM and DEX on the Cronos chain, which was subsequently acquired by Mad Meerkat and renamed MM.Finance. The feature of this Dex is to provide fee rebates through trade mining, and its handling fee is almost 100 times lower than that of Ethereum.
MMF is the first project to introduce protocol-owned liquidity (POL) into the ecosystem on Cronos, the protocol itself can take liquidity and control
Transaction fees on Cronos Chain are the lowest at 0.17%. And 0.05% is used to repurchase MMF, 0.1% is used to return to the liquidity pool as a reward for liquidity providers, and 0.02% is used to purchase MMF treasury bonds
The combination of MMF and repurchase fee LP can ensure that the trading volume of the platform will expand, causing deflation of MMF circulation and causing the price to rise over time, and there will be sufficient liquidity to support it even in a bear market.
Having automatic compound maximizers - Vaults, staking in the MMOptimizer Maximizer Vault will help achieve (3,3) and its win-win for everyone in the ecosystem.
Agreement status
As of 2022-4-14, the total lock-up volume of the MMF project has reached 1.63 billion, and the market value of circulation is more than 200 million US dollars. Although there is still a big gap compared with the top Dex, its vertical comparison has increased by 48.5% month-on-month The total amount is in a period of rapid development. The current circulation of tokens is 196 million, and the total number of tokens destroyed is 9 million tokens, and a considerable number of tokens are locked. According to Defilama data, the Cronos public chain Defi’s total lock-up volume ranks ninth among all public chains, with a total pledge volume of $3.1B, and MMF accounts for 50% of its value, taking the lead in reforming public chains, followed by VVS finance.
Project Summary
MMF has its ownMongoose NFT ,The issue price is 399CRO, and as of 2022/04/14 the floor price is 8887CRO, an increase of about 20 times. A single NFT can add 3% to the annualized rate of the farm, and a single farm pool with a single address can add up to 3 NFTs, which is the annualized rate of mining +9%. The team also issued the same NFT on the ETH public chain before---Mad Meerkat, the floor price is currently 6.29Eth.
horizontal comparison
horizontal comparison
Summarize
Summarize
According to data from DeFi Llama, the total value locked in DeFi so far is about $210 billion. This is down slightly from the $255 billion at the end of 2021, but still accounts for the majority of the market. As far as decentralized exchanges (DEXs) are concerned, monthly trading volume is currently around $70 billion, down from over $100 billion at the end of 2021.
On the surface, DeFi appears to have entered a cooling off period. But some major DeFi indicators, such as the total value locked in all DeFi protocols or the transaction volume of DEX, do not show us the whole picture, because they are always related to the current market conditions. The L2 scalability solution is obviously a major development that can optimize the use of DeFi by reducing costs and increasing speed, and there are many new technologies that are being tried and built. On this basis, DEX will become more and more convenient, slippage and handling fee problems will be solved, and cross-chain transactions will greatly improve user experience.
Although the current market is in a cooling-off period, long-term developers will continue to create value and come up with new ideas to provide nutrients for the next market cycle. Moreover, future users must not only be users of products, but also creators of products, and the general trend of decentralization will become more and more obvious. Thus capturing the greatest gains when attention finally returns to DeFi.
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