HashKey Capital Investment Manager: Talk about DeFi2.0 that I understand

Talking about defi2.0 that I understand. At the beginning of the year, I said that defi will not have a big paradigm shift. Most of them are micro-innovations. Optimizing and balancing capital efficiency and money-making effects will become the focus of the next year. Sure enough, most of these defi2.0 projects headed by ohm followed this rule. First, let’s summarize where these projects emerged and why they succeeded.

The first is ohm, which is a pure fair launch “community” project. This community means that the main early participants are almost irrelevant to the big capital and big defi project parties. The cold start is completed by distributing to the early discord community. The follow-up attracted many defi core community players to participate, which is similar to the launch route of yfi and sushi. This launch route needs to attract users through a strong money-making effect.

1.1) The characteristics of the ohm mode I don’t want to say much. There are many article analysis on the chain. His interesting point is his growth experience. After he was born, he experienced many close to crashes, but there has always been a batch of core “gangsters” crazy milk on Twitter. , And the discord is very warm and harmonious, which is also the first advantage that the community is very strong. Secondly, regardless of the bull or bear, the ohm mining yield is extremely high, and the lock-up rate is also extremely high. This is a very strong fomo effect.

2) Next are alcx and spell. The origins of these two projects are also very community, and they overlap with the early participants of yfi, and they follow the logic of the ultimate doll. Especially spell, initially relying on yvyfi and yvusdt to provide high-yield and borrowing cold start (large capital stablecoin mining demand) and then by joining various popular projects (ftm, agld) to attract more users, and finally through the online curve Complete a gorgeous turn.

2.1) There are several core points. The first is the community. The twitter core community is basically the so-called smart money of nansen. As the monitoring of behavioral data software on the chain becomes more and more developed, the behavior of smart money is becoming more and more important to the market. . The second is reasonable mining income. The annualized low-risk pledge of early stablecoins is higher than 80%. This is a terrifying number. In the later stage, the introduction of high-profile currencies will gain more users with higher returns.

3) The next batch of projects, such as pendle, gro, rbn, rgt, cvx, mist, badger, these micro-innovations are filling the gaps in the market, so that professional traders and ordinary users have suitable tools for grading. If you don’t want to worry about it, saving money as a fool is also profitable. If the ability is strong enough, there will be a platform that can make more. These tools are in demand for products, and the distribution method is reasonable, but they lack grand narratives, but they cannot independently set off the market.

3.1) Let me talk more about it here. I personally like the design of univ3 very much. Uni is also the only one in a batch of old defi who dares to innovate at the protocol layer. If you don’t admire it, you can easily make accidents if you change the underlying logic. And it is very easy to generate huge profits in the high volatility trading market. But it lacks a very useful management tool. The same problem also occurs on uma, because it is too complicated and professional, and it is difficult for ordinary users to understand.

4) In addition, there are a number of independent derivatives projects, headed by dydx and perp. Because derivatives require chain performance and their own strong diversion and money-making effects, these two are almost synergistic with the mainstream defi protocol. Low. Therefore, classified separately, they are characterized by a similar trading experience with centralized exchanges. With mining incentives, market information and event marketing to obtain customers, the product quality is also good and retained, so they are starting quickly.

5) Finally, there are macro narrative projects from a higher dimension, such as eden, grt and other data, and some cross-chain projects. Tokmak barely counts. This type of project is not just defi, but assists defi project parties and investors. Tools, as defi takes off, they are in strong demand, and there are few competitors on the track, and they may even be able to capture value from other tracks (the application of eden on nft) because of the higher-dimensional narrative.

6) Looking at these projects, ohm is undoubtedly the big leader, and spell and alcx are representatives of the ultimate doll. These three are all driven by strong money-making effects, most of which are the early participation and drive of “community”, smart money dominance, community stickiness, agreement money-making effect, and operational data interact with each other and grow rapidly.

6.1) Pendle, gro, rgt, rbn, and badger are dominated by the core head institutions. Most of the projects were established at the end of last year and early this year, to identify the market’s pain points. The criteria for judging such projects are high-quality and just-needed products, stable growth in product data and strong institutional endorsements, similar to badger, 1inch, sfi, and 88mph in January of this year, and belong to the opportunity to break through from the 3rd to the 2nd line.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/hashkey-capital-investment-manager-talk-about-defi2-0-that-i-understand/
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