Recent Developments in the DeFi Market: The Rise of New Stablecoins and the Continued Expansion of Superchain Ecosystems

In the past week, the DeFi market has shown several noteworthy developments. The stablecoin sector is witnessing new competition, with multiple projects displaying a trend of collaboration. Meanwhile, the superchain ecosystem continues to expand, attracting more participants to join.

The stablecoin sector welcomes a new change.

The USDtb stablecoin launched by Ethena has attracted market attention. The project has partnered with Usual to mutually provide TVL support and incentives. WLFI has also joined the collaboration, integrating sUSDe into its lending market. This series of collaborations demonstrates that the current round of stablecoin projects is becoming more mature, adopting a strategy of unity to seek common development.

The usual stablecoin mining mechanism integrates elements of multi-party game theory, which shares a similar underlying logic with the past DeFi Summer. The difference lies in the introduction of the RWA concept, which refines the game model and receives ample liquidity support from certain large trading platforms.

Another highly anticipated project is Resolv, which has seen its TVL surge by nearly 400% in the past two weeks. Resolv employs a Delta-neutral strategy and innovatively introduces an RLP mechanism as a risk buffer layer. This design provides differentiated options for users with varying risk appetites.

The established stablecoin project Frax is also actively adjusting its strategy. It has partnered with Symbiotic to launch the veFRAX multi-yield structure and is considering including an ETF product from a financial institution as part of the collateral for Frax USD.

The super chain ecosystem continues to expand

The Ink chain developed by a certain trading platform has officially joined the super chain camp, marking an increasingly evident trend of compliant exchanges entering the L2 field. Dinero quickly followed suit and launched the first LST product on the Ink chain.

It is worth mentioning that Velodrome plans to integrate with Ink in 2025 and has locked a large amount of veVELO. This move suggests that Velodrome may become a liquidity hub in the superchain ecosystem by expanding its influence through direct integration rather than forking.

Traditional Decentralized Finance projects are actively innovating

The established DeFi project Convex and Yearn have joined forces to launch the decentralized stable protocol Resupply. This protocol's reUSD stablecoin is collateralized by yield-generating stablecoins created in the lending market and offers built-in leverage looping capabilities.

GammaSwap has made progress in the field of hedging impermanent loss, and its Yield Token project is about to complete the audit. The project achieves an options-like yield curve through the lending and restructuring of LP tokens.

Ethena is also actively expanding its business scope and has proposed the integration of Derive options and perpetual futures. If approved, Derive will become an on-chain hedging and trading venue for Ethena's large TVL.

Other Trends Worth Noticing

• The Aptos public blockchain has a new CEO who stated that it will place greater emphasis on the development of the DeFi sector.
• Babypie incentivizes mBTC-BTC liquidity on multiple public chains and decentralized exchanges.
• Fluid expands to the Arbitrum network and launches growth incentives.
• A certain public chain foundation has launched the infraBUIDL(AI) program to promote the application of AI in the blockchain field.
• Morpho Labs proposed to deploy its core smart contracts in a multi-chain environment.
• Sonic officially launched its mainnet, providing token conversion, integration with a certain lending protocol, and other features.

These developments indicate that the DeFi market is undergoing a new wave of innovation and consolidation, with increasing collaboration between projects, and the application of new technologies continuously driving the industry forward.