DeFi Industry Weekly Report: Stablecoin Frenzy Resurfaces, OP Super Chain Continues to Expand

In the past week, the DeFi industry has developed rapidly, with major highlights including innovative collaborations in stablecoin projects, rapid growth of emerging protocols, and further expansion of the superchain ecosystem.

New Trends in the Stablecoin Field

The USDtb stablecoin launched by Ethena has sparked a new wave of stablecoin enthusiasm. The collaboration with Usual has brought considerable total locked value ( TVL ) growth and incentives for both parties. WLFI has also joined the collaboration, integrating sUSDe into the lending market. This wave of stablecoins showcases a more mature collaborative trend, with all parties driving ecosystem development through synergies.

The usual stablecoin mining mechanism integrates elements of multi-party game theory, similar to the liquidity mining model of the early DeFi summer, but with innovations in concepts of physical assets, the sophistication of game models, and liquidity exit channels. This model may initially experience a rapid growth phase, followed by a gradual approach to market equilibrium.

Another project worth paying attention to is Resolv, which has seen its total locked value grow by nearly 400% in the past two weeks. Resolv employs a Delta-neutral strategy similar to Ethena, but introduces the RLP (Resolv Liquidity Provider) mechanism as a risk buffer layer. This design offers options for users with different risk preferences and is expected to attract more attention after the HyperEVM launch.

The Frax protocol is also actively adjusting its strategy, collaborating with Symbiotic to launch a multi-yield structure veFRAX, and is considering incorporating an exchange-traded fund from a well-known asset management company into the collateral pool of Frax USD.

Super Chain Ecosystem Expansion

The Ink network developed by a certain trading platform has officially joined the superchain camp, and Dinero immediately launched the first liquid staking token (LST) on Ink. A well-known DEX project has also announced that it will integrate with Ink in 2025 and has locked a large amount of governance tokens. This reflects the trend in the industry where compliant exchanges are developing their own Layer 2 networks, and the market has high expectations for Ink's performance.

Traditional Decentralized Finance Projects Innovation

The established DeFi projects Convex and Yearn have teamed up to launch the decentralized stable protocol Resupply, which uses high-yield stablecoin certificates generated from the lending market as collateral for its reUSD stablecoin. This innovation combines the advantages of traditional DeFi and showcases the ongoing innovation capabilities of mature projects.

GammaSwap is about to complete the development of its Yield Token and enter the audit phase. The project focuses on hedging impermanent loss, achieving an options-like yield curve through the lending and restructuring of LP tokens, and is increasingly favored by DeFi users.

Other Important Progress

• A certain stablecoin project is considering integrating on-chain options and perpetual futures trading platforms to enhance the functionality of its ecosystem.
• The Aptos public chain is undergoing a management change, and the new CEO stated that greater emphasis will be placed on the development of the Decentralized Finance ecosystem.
• Babypie promotes liquidity incentives for the mBTC-BTC trading pair across multiple blockchains and DEXs.
• The efficient DEX project Fluid expands to the Arbitrum network and implements a growth incentive program.
• The Avalanche Foundation has launched a new infrastructure development plan focused on AI applications.
• Multiple DeFi projects have announced cross-chain expansion plans, including DEX aggregators and lending protocols.

Overall, the DeFi industry is experiencing a new wave of innovation, with stablecoin projects, cross-chain protocols, and Layer 2 solutions becoming the current focus areas of development. As more mature projects join the ranks of innovation, the DeFi ecosystem is expected to usher in a more prosperous stage of development.