Recent Trends in the DeFi Industry: The Rise of Stablecoins and the Expansion of Super Chain Ecosystems

In the past week, the DeFi sector has shown several significant developments, particularly in the areas of stablecoins and Layer 2 ecosystems.

New Trends in the Stablecoin Sector

Ethena leads the stablecoin season

Ethena has launched a new stablecoin USDtb and has partnered with Usual, both providing TVL support and incentives to each other. In addition, WLFI has also joined the collaboration, integrating sUSDe into the lending market.

Unlike previous competition among stablecoins, this round of stablecoin projects shows a clear trend of collaboration, indicating a more mature market strategy. Usual has adopted a stablecoin mining mechanism that incorporates multi-party game theory, which is similar to the Pool mechanism of the early DeFi Summer, but has made innovations in the concepts of actual assets, the sophistication of game models, and liquidity exit.

Resolv rapid growth

Resolv, as another Delta-neutral stablecoin protocol, has seen its TVL grow by nearly 400% in the past two weeks. The protocol introduces the RLP (Risk Liquidity Provider) mechanism as a risk buffer between the USR stablecoin and the underlying assets. RLP holders will receive a higher profit share to compensate for the additional risks they undertake.

Strategic Adjustment of Frax

Frax is undergoing a series of strategic adjustments, including collaboration with Symbiotic, launching a veFRAX multi-yield structure, and considering incorporating a certain ETF into the collateral pool for Frax USD.

Layer 2 Ecosystem Development

Super Chain Ecosystem Expansion

The Ink chain developed by a certain exchange has officially launched and joined the Super Chain ecosystem. Dinero has introduced the first LST (liquid staking token) on Ink. A certain DEX plans to integrate into the Ink network in 2025 and has purchased and locked a large amount of governance tokens. This reflects that the development of proprietary L2 networks by compliant exchanges has become a trend.

Other Decentralized Finance Innovations

1. A well-established DeFi project has collaborated to launch a decentralized stablecoin protocol called Resupply, whose reUSD is backed by stablecoins generated from the yields of the lending market.

2. GammaSwap's Yield Token is about to complete development and enter the audit phase, focusing on hedging impermanent loss.

3. A certain stablecoin project is considering integrating on-chain options and perpetual futures trading functionalities to enhance the diversity of its ecosystem.

4. A public chain project has undergone a leadership change, and the new CEO stated that more emphasis will be placed on Decentralized Finance development.

5. Multiple projects incentivize the liquidity of specific trading pairs on different chains and DEXes.

6. A high-efficiency DEX expands to the Arbitrum network, aiming to capture larger trading volumes.

7. Multiple public chains and DeFi projects have announced new development plans, including infrastructure construction, cross-chain deployment, and more.

These developments show that the DeFi industry is continuously innovating and expanding in multiple directions, with stablecoins and Layer 2 ecosystems becoming the current focus.