How long can Yield Farming led by IOSG Weekly Short _ YFI last?

Part.1 Insight

How long can Yield farming led by # YFI last?

The frenzy of liquid mining has brought rapid growth to decentralized finance (DeFi). The most typical Yearn project, in just a few days after its release, the locked position quickly exceeded 100 million US bucks. When customers seek the best return between various liquid mining platforms, a lot more agreements are also starting or planning liquid mining to attract customers in a collective carnival, we try to explore the explosive development of liquid mining The underlying factors and future path. We start with a few basic questions:

(1) Why can liquidity mining grow so fast?

Product molding*: We believe that the first common point of the recent outbreak of the top DeFi project is that the merchandise offers been shaped and contains been recognized by customers to a large extent.

For example, let's look at yearn, as a typical case of income aggregation in DeFi tasks. Before the issuance of governance token YFI, Y Swimming pool in Curve provides been running for a long time, in fact it is a leading project of AMM software. The new curly hair governance token will be logical and fair.

Breakthrough in the Token model*: However, products and customers alone aren't enough to result in an outbreak. We believe that the extremely high degree of correlation between DeFi products, as well as the breakthrough and development of the token model are also the main element to the quick success of its liquid mining model in a brief period of time (for example, Yearn presently has only 30,000 tokens, and the group does not have any future plans. Leave no earlier investors). The following figure displays how to connect to multiple DeFi tasks in the yearn process. We can see that year in fact integrates numerous protocols in the DeFi industry to increase the returns of liquidity providers, and deeply binds the interests of products and customers through governance tokens.

The correlation between DeFi projects is very high, and users can simply switch in one project to another. Therefore, brand building and development in local community governance may also be a core competitiveness and impact of DeFi tasks. Yearn's completely community-based governance displays us the energy of decentralization.

A couple of days after YFI was launched, some individuals realized that the founder Andre had the opportunity to mint tokens at any time. So he furthermore gave the control of the governance agreement to the city (9 community members which includes Calvin Liu of Substance). As of the afternoon of July 27, 2020, YFI has put forward a complete of 32 proposals, 3 which have been exceeded, and the rest of the proposals are under voting/dialogue. In this short 7 days, the enthusiasm of YFI local community members is very high. More seldom, the founder Andre Cronje didn't allocate YFI tokens to himself. The project can be transitioning to local community governance at the fastest velocity.

However, the city has changed the voting mechanism. Because BPT has been found in the initially developed "98% yCRV/2% YFI" swimming pool, the voting fat has been imbalanced. Because yCRV needs to be pledged to obtain stablecoins, customers with a large number of stablecoins might use a proposal to mint A large way to obtain YFI. For that reason, the city improved this mechanism and set up a voting framework led by YFI.

Later on, the entire year agreement will undoubtedly be prolonged to the areas of trading, futures, and clearing. We furthermore look forward to more tasks that may innovate between sustainable company models and sustaining decentralization, and truly build a DeFi industry. BTC.

(2) Is the liquid mining mechanism sustainable?

From our analysis of DeFi liquid mining cases such as Compound, FCoin cases, and Jet.com traditional situations, the basic summary is that liquid mining has inherent success advantages, but additionally, there are some aspects that require to be changed to keep up sustainability. Sexual development.

(3) What key points may be expected inside this direction in the future?

We will issue our complete document inside Chinese tomorrow, that will provide a more systematic explanation of our present analysis and exploration of DeFi liquidity mining. This emerging industry is full of opportunities and issues, and we have been also very happy to go over the development and future of DeFi with you.

Part.2 Industry Pulse

The co-founder of mStable said that the MTA plummet may be mainly caused by the selling of Mesa auction participants

* MTA

James Simpson, the co-founder of the stablecoin aggregation process mStable (MTA), wrote an article in reaction to the issue of "Unlocking some MTAs beforehand caused their costs to plunge 45%." mStable will need the following activities: 1. Seed investor tokens unlocked previously 24 hours will undoubtedly be voluntarily locked for another 3 months; 2. The mStable group begins unlocking their tokens three months after the token sale as planned Tokens will undoubtedly be unlocked every one fourth for the next 3 years; 3. James Simpson himself will delay unlocking his tokens for 3 months; 4. mStable guarantees to keep up full transparency in terms of token unlocking.

After ConsenSys acquired Airswap, it released Codefi Markets, a product that may realize secondary market transactions of securitized tokens

* OTC

ConsenSys released Codefi Markets, a product that may realize secondary market transactions of securitized tokens predicated on AirSwap technology. Codefi Markets offers a white label OTC investing solution that may realize peer-to-peer asset move without relying on a third party for broker transactions or custody of possessions.

Zapper.fi helps participation inside liquidity mining of YFI tokens in line with the Balancer fund pool

_* Liquidity mining _

DeFi asset management system Zapper.fi announced that it helps the Balancer fund swimming pool to participate in the liquidity mining of YFI tokens, allowing customers to participate in DAI/YFI asset set mining in line with the Balancer Swimming pool to get the Balancer Swimming pool Token (BPT) of the swimming pool, and then the swimming pool Staking tokens starts to build up revenue, and can claim income and manage liquidity via an easy-to-use interface.

OpenZeppelin releases audit document of Compound open oracle integration Uniswap V2

* Oracle

Blockchain technology company OpenZeppelin released the audit document of Compound's Open Oracle (Open Oracle) integration with Uniswap V2. The document showed no serious or high-danger vulnerabilities, but proposed some changes to follow guidelines and improve the overall quality of the project.

The Bank of France selects eight financial technology companies including Accenture and HSBC to test CBDC

* CBDC

The Bank of France has selected eight fintech companies, including Accenture, HSBC, Euroclear and Seba Lender, to participate in the central bank digital currency (CBDC) trial, looking to seek to modernize inter-bank settlement through CBDC.

THE UNITED STATES court ruled that Bitcoin is a "currency"

* BTC

Bloomberg reported a federal court stated on Friday that Bitcoin is a "currency" and is subject to the "Washington DC Currency Transmission Take action." The court refused to drop the criminal charges against Larry Dean Harmon, the operator of an underground bitcoin investing system. This ruling implies that Bitcoin is only considered currency beneath the "Washington DC Cash Transfer Act." Businesses that make use of Bitcoin and other cryptocurrencies for transactions usually have to obtain a currency transfer license issued by each state.

NFT prediction market Reality Cards check version released

* NFT

NFT prediction market Reality Cards check version released. Unlike the mainstream prediction market, Actuality Card prediction market participants usually do not bet on the outcome, but own the outcome of the function. The specific outcome of each occasion is exclusive, represented by the NFT, and can only be possessed by one individual at a time. But it can be sold at any time (always on the market).

Blockchain service system BSN integrates six general public chains including Ethereum, Nervos, Neo, and IRISnet

_* Blockchain service system _

Blockchain service system BSN announced the integration of six general public chains, including Ethereum, Nervos, Tezos, Neo, EOS, and IRISnet. Beginning with August 10, developers of the six blockchain platforms will be able to use the BSN overseas data center Data storage space and bandwidth to build DApp and run nodes. BSN stated that global customers will be able to access domestic business chains and monetary data through the BSN cross-chain framework and the partnership with China UnionPay.

tZERO plans to support Aspen St. Regis Resort Digital Securities ASPEN this quarter

_* Digital Securities _

Overstock's securities token system tZERO announced that this has established a partnership with Aspen Digital Inc, a subsidiary of property issuer Elevated Come back LLC, to support Aspen Digital Securities (ASPEN) to industry on tZERO ATS. ASPEN is likely to be traded on tZERO ATS this one fourth. ASPEN's talk about indirectly symbolizes the US$18 million indirect possession of the St. Regis Aspen Resort.

The Ant Blockchain is officially upgraded to AntChain

_* Antchain _

The chairman of Ant Team Jing Xiandong announced in Hangzhou that the Ant Blockchain has been officially upgraded to "Ant Chain". At the press conference, Jing Xiandong shared the three key achievements that AntChain provides achieved: technically, AntChain provides maintained the amount of global patent applications every year for four consecutive yrs at No. 1; in software, AntChain has assisted solve the problem. Trust issues in a lot more than 50 actual scenarios; running a business, AntChain presently "chains" a lot more than 100 million occasions a day.

Ethereum Domain Title System ENS can adopt reduced reduction mechanism for .ETH domain names released after expiration

* ETH

The Ethereum Domain Name Program ENS stated that there were people renewing their domain names previously few months. Right now it has already reached the last month of the 90-day "grace period". By August 2nd, about 280,000 domain names that have not been up-to-date will undoubtedly be released among others can sign up these domain names.

Digital asset bank Avanti is likely to start operations inside October this season at the earliest

_* Digital Asset Lender _

Avanti Financial Team (Avanti), a digital asset lender founded by Wall Road veteran Caitlin Long, announced that its software for a banking license was completed on July 15, and is likely to open as early as October 2020.

Part.3 Expense and financing events

Three Arrows, ParaFi, IOSG and other investment synthetic asset agreements Synthetix and be institutional liquidity providers

_* Synthetic assets _

Synthetix has announced that it has received purchase from capital raising companies or even institutional companions such as Framework Ventures, ParaFi Funds, Three Arrows, IOSG, Spencer Noon, DTC Funds, Hashed, etc. These institutions can be institutional companions and popular providers of the Synthetix system By.

Swiss digital asset broker Bitcoin Suisse completes approximately Us all$48 million inside Series A financing

_* Digital assets _

Swiss digital asset broker Bitcoin Suisse announced the completion of a 45 million Swiss francs (approximately Us all$48 million) Series A financing, led by Roger Studer, the former head of personal lender Vontobel. It is reported that financing can be Bitcoin Suisse's first issuance of fresh shares to external investors. The A circular of funding released a complete of 16.4% of the shares.

Component.4 IOSG post-investment project progress

Synthetix launches dHedge, a decentralized asset management process, launched on the mainnet inside September

_* Asset Management Contract _

Synthetic Assets Protocol Synthetix announced that it will release the decentralized asset management protocol dHedge, that is currently about the Ethereum testnet, and the mainnet is likely to be launched inside September. Synthetix mentioned that dHedge provides synthetic asset investing without custody, using Synthetix's non-slippage and limitless liquidity trading model, that is also the first important project predicated on Synthetix's derivatives liquidity agreement. It is documented that Synthetix provides released the Antares upgrade on July 20. This version has made numerous enhancements to the binary options trading function.

Polkadot token DOT is listed about OKEx and FTX, experimental network Kusama is listed on Huobi

* online

The cryptocurrency exchange OKEx announced that it will officially release DOT (Polkadot) on the internet, APP and API at 15:00 on July 22; the crypto derivatives investing system FTX will formally release the Polkadot (Polkadot) quarterly and sustainable agreement. Huobi Worldwide has opened up the KSM deposit company of the Polkadot experimental system Kusama token KSM at 19:00 on July 23, and will open KSM/USDT, KSM/BTC, KSM/HT at 11:00 on July 24 Currency transactions. KSM withdrawal program will undoubtedly be opened at 11:00 on July 24th.

MakerDAO's proposal to anchor the stablecoin module PSM failed

_* security audit _

Binance will release Maker (MKR) and Dai (DAI) from 22:00 on July 23, and will open MKR/BNB, MKR/BTC, MKR/USDT, MKR/BUSD, DAI/BNB, DAI/BTC, DAI/ BUSD, DAI/USDT trading market. MKR and DAI recharge channels are actually open.