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Multifunctional "expansion" of DeFi mainstream lending丨Industry



DeFi lending, where is the next AAVE? In the "troika" of DeFi, "decentralized lending" acts as a hub between various roles, linking DEX, stable currency, lending and other sectors. The explosion of DeFi is still driving a large number of new assets to appear on the market, and it also makes users' lending needs continue to change with the development of the industry. In addition to established lending platforms such as Maker and Compound, a number of mainstream DeFi lending models such as AAVE, ForTube, and Venus are entering the market through improvement and innovation, and jointly improve the new financial lending system in the digital currency market. In August last year, Aave upgraded the V2 version. Innovations were made in the directions of fixed-rate deposits, stable loan rates, credit entrustment, change of collateral, batch processing of flash loans, debt tokenization, community governance, etc. The extremely innovative functions directly made Aave's lock-up volume break through 1 billion US dollars at that time , the lock-up volume increased by more than 79%. The DeFi lending platform has expanded and extended its functions, effectively improving the TVL of the platform and market expectations: As of now, in less than a year, AAVE has locked up as much as 3.329 billion US dollars. Last month, ForTube announced the release of the V3 version, which was updated from three dimensions of smart contracts, risk market risks, and counterparty risks, and launched the asset pooling function to improve capital utilization. The main direction of ForTube function optimization lies in four directions: asset security, platform governance, system risk control, and community building. Paidun: The DeFi project Novo is suspected of being attacked: May 30 news, according to Paidun’s early warning and monitoring, last night, the DeFi project Novo was suspected of being attacked. Hackers have transferred 280 BNB (about 89,600 US dollars) to [2022/5/30 3:50:22] On April 20, the ForTube V3 version was launched on the Farming section. Relying on the high-quality loan assets at the bottom of the platform, after the aggregation and mining of the smart gun pool, investors can release the liquidity of LP Tokens that meet the risk control rules through the "transfer" on ForTube when farming, helping users to obtain higher aggregate income. (Data source: DeBank) The above is the main flow of the DeFi mortgage lending market shown by DeBank. At present, the total borrowing volume of the DeFi mortgage lending market has reached 17.13 billion U.S. dollars, and there is a huge room for imagination. It can be seen that in the updates of many DeFi lending platforms, they are all vying to become the next "AAVE". In the innovation of DeFi's mainstream lending platform, among the update ideas of many products, innovative methods such as "Smart Pool", "Flash Loan", and "Dao Governance" have been generally recognized by the market. The DeFi lock-up volume of the entire network is 109.97 billion US dollars: Golden Finance News, according to DeFiLIama data, the current DeFi lock-up volume of the entire network is 109.97 billion US dollars, a decrease of 1.61% in 24 hours. Currently, the top 5 public chains with locked positions are: ETH ($69.62 billion), BSC ($8.4 billion), Avalanche ($5.17 billion), Tron ($4.28 billion), and Solana ($4.02 billion). [2022/5/15 3:16:34]Compound was the first to carry out liquidity mining. Subsequently, Aave has grown rapidly with flash loans, multi-token support, and unsecured lending. In the middle of 2020, after Curve launched liquidity mining and Yearn launched smart pools, Aave pools were adopted at the bottom layer, which kept Aave's lock-up volume at a high level for several months, almost tying Maker. (Data source: Defipulse) As one of the earliest DeFi lending platforms, ForTube belongs to the same type as Compound, Aave and other platforms: over-collateralized encrypted assets, lending other types of encrypted assets, including stable coins and non-stable coins. At present, the market is still dominated by fund pool lending, and the business volume of bond platforms is limited. Platform upgrades and innovations can often effectively bring about changes in TVL. From the V3 version announced by ForTube, it can be seen that the platform has introduced a large number of effective functions that have been verified by the market. Live | Oasis Labs CEO Song Xiaodong: DeFi with privacy protection can be realized through Oasis: Jinse Finance live report, On October 27, the 6th Blockchain Global Summit opened in Shanghai. At the summit, Song Xiaodong, founder of Oasis Labs, said in a speech that DeFi There are many challenges, including scalability, privacy protection, etc. Now the consensus, computing, and storage of the blockchain are all mixed together, so the performance of the nodes is obviously limited. Oasis Network separates the consensus layer from the computing layer, and can achieve high throughput through the design of Paratime, and achieve higher security through difference detection. In this way, DeFi with privacy protection can be realized, such as the privacy protection of users when borrowing and lending. In the case of privacy protection, the user's credit can be calculated, and loans can be provided through credit rating. In addition, in the case of privacy protection, the user's transaction can also be protected from being attacked by attackers. [2020/10/27] The update logic of the V3 version is to solve the problems of a single fund pool, token economic model and platform governance, security issues, and community building issues that are common in DeFi lending. This is what every lending product needs to think about. ForTube's upcoming Earn section refers to Aave's updated ideas. It provides users with more flexible financial management methods, including current deposits with floating interest rates, time deposits, and loan products with fixed interest rates. So, how to introduce the increment of TVL? The ForTube community has introduced a new governance structure, FDAO, to balance ForTube's revenue distribution, risk taking, and governance decisions. Under this model, users who hold the platform token FOR can obtain and share 60% of the platform's income value, linking personal income with the platform, aiming to increase the willingness and participation of token holders in platform governance. The DeFi currency MEME on the CoinW platform led the rise: According to the market data of CoinWin, as of 10:00 today (GMT+8), the DeFi currency MEME on the platform led the rise today, with an increase of 33.27% today, and the current price is 990.0198USDT; FLUX Today's increase is 21.52%, and the current price is 1.6315USDT; NEWTON is increasing by 17.78% today, and the current price is 0.1881USDT; BART is today's increase is 16.98%, and the current price is 0.0331USDT. Risk reminder: The market has fluctuated greatly recently, please pay attention to risk control [2020/9/24] According to public information, ForTube V3 added a sharded lending pool, and divided assets into stable areas and innovative areas according to asset ratings to distinguish asset sharing . At the same time, the FDAO model is introduced, and the stable area and the innovative area correspond to an FDAO for management and operation. In the corresponding FDAO, the platform revenue will be rewarded to the corresponding FDAO Token holders in the form of FOR. In order to ensure rationality, FDAO uses a new governance structure based on the Bonding Curve. Under the curve model, the more system reserve assets, the higher the number and proportion of pocket assets, and the safer the loan pool will be. This feature is used to balance ForTube revenue distribution, risk taking, and governance decisions. Under the FDAO governance model, each partition of the platform will largely decentralize the impact of smart contracts and economic risks. FOR investors have more usage scenarios: 1) According to the risk preference, the pledged assets enter the selected partition pool to obtain $FDAO Token; Sign mechanism contracts: With the recent upsurge of DeFi mining, there have been many smart contract migrations or security incidents. Huobi Research Institute pointed out that the flexibility of smart contracts on Ethereum is low, and the smart contract codes that have been deployed cannot be directly covered and upgraded. And data migration, such as YAM, SUSHI and other projects. But in the EOS network, the upgradeability of smart contracts is a function clearly pointed out in the white paper. The administrator of the contract can overwrite and upgrade the contract just like deploying the contract, which means that the administrator has the right to take away The funds in the contract mean extremely high financial risks for investors. But it is worth noting that in the EOS network, it is also possible to limit flexibility and avoid centralized control by setting multi-signatures and other means. Investors can simply judge the contract safety factor by whether to multi-sign. All in all, in the blockchain world, the improvement of flexibility is often accompanied by the difficulty of rational configuration of permissions and new security risks. [2020/9/10] 2) FDAO will govern its lending pool and cover some risks; 3) FDAO Token holders can share the platform's revenue incentives. (Source: ForTube official website) When Compound and Aave have built a "moat" through "DeFi Lego", the lending platforms that entered later need to explore new paths. ForTube took a different approach and put the breakthrough point on the BSC track. At present, there are few lending projects on Binance Smart Chain, and ForTube is one of the earliest lending projects to deploy BSC, avoiding the fierce competition on Ethereum to a certain extent. By capturing the value of tokens on BSC and the exchange of the Binance ecosystem, it has the potential to develop new markets. In the V3 version of ForTube, there is a strong linkage with the Binance ecology in the smart pool aggregation mining (Farming). ForTube's Farming section supports single-currency mining, and users can deposit LPs supported by the platform, which includes a large number of currencies in the Binance ecosystem (such as BNB-BUSD), allowing users to obtain income. Obtain an additional ForTube loan line, thereby improving the utilization rate of funds. While protecting the original expected income of users, Farming also provides a flexible loan amount, which releases the liquidity of some locked-up assets, thereby improving the utilization rate of funds: users can use this to implement other Income strategies, such as leveraged trading and other financial derivatives. In addition, after the user chooses to deposit the LP Tokens into ForTube Farming, he can still obtain the expected APY mining rewards, and at the same time obtain a certain pledge position vLP. Here, ForTube is leaning towards the BSC Innovation Zone. Based on the vLP in this zone, users can lend specified currencies (such as FOR and BUSD). As ForTube incorporates more coins from the Binance system into the platform, this type of traffic exchange will increase: more ecological projects will be launched, and more and more mining pools will be used to integrate a wider range of users on the BSC chain. The amount eventually settles on the platform. According to ForTube official website data, as of April 20, 2021, the market size of ForTube BSC version has exceeded 62 million US dollars. Since Binance Smart Chain is one of Binance's current key development directions, ForTube's first-mover advantage on BSC gives the platform the first opportunity to establish a barrier to entry in a timely manner. There may be a new way of playing between ForTube and the exchange smart chain, which will bring higher expectations to the market. Conversely, if ForTube fails to make timely efforts, it will face more intense competition. According to the plan, ForTube has already launched the Farming function, and will follow-up to deflate the platform token FOR according to the community voting results, and launch a new wealth management section and NFT gameplay to increase more traffic entrances. In terms of security, the V3 version has passed the PeckShield security audit. Where is the next explosive point of DeFi lending? What can be seen is that the evolution logic of the leading DeFi lending platform has begun to be used for reference by other platforms, and these platforms are also innovating to varying degrees according to their own characteristics. When the new transaction needs of users can be met by the new generation of DeFi lending, where will the value growth point in the next stage be? According to the latest data from Defipulse, the value of liquid assets locked in DeFi lending has reached $27.7 billion. Compound, MakerDAO, and Aave still occupy the top three. Compound’s total lock-up value has accounted for 38%, followed closely by AAVE. The rest of the lending platforms share the remaining liquidity. The top DeFi platforms include InstaDapp, Cream.Finance, and ForTube etc. In terms of price performance, AAVE has outperformed COMP. At the start of the year, COMP was valued around $145 and AAVE was valued around $88. Recently, the value of COMP and AAVE has been maintained at around $500 for a long time. AAVE over 450%. With the improvement of platform functions such as Vunes and ForTube, the advantages of latecomers have emerged. According to public data, ForTube has obtained more than $77 million in liquidity on Ethereum and Binance Smart Chain, accounting for a certain market share, and the upward trend has been obvious in the past month. Compared with AAVE, FOR is still at a relatively low position. Compared with other lending platforms in the same period, the ForTube V3 version has relatively complete functions. After the launch, the change in TVL value will be the focus of the market's next attention. In the expansion and innovation of the DeFi lending platform, the financial lending system of the entire industry is already meeting more new transaction needs. Looking back on the development of DeFi lending, this field has indeed achieved great success.


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