Earlier this year, Kyle Samani, the managing partner of Multicoin Capital, wrote an article describing the moat of the Ethereum DeFi protocol and analyzed the conditions required to fork the mainstream DeFi protocol. A few months later, along with the fierce liquidity mining, the DeFi community started a vigorous fork movement.
Relying on a fairer token distribution mechanism and more community driving forces, forking protocols such as SushiSwap and Yam have risen rapidly and evenly split with the original protocol, and they have the momentum to replace them. Is “Fair Start” a better DeFi token distribution model? Is the fork agreement an “unlimited game” or a “limited game”? This issue of Chain News featured interpretation of the spectacular DeFi bifurcation movement and popular cases. This article should be collected, because the chain news will be constantly updated. 😊
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DeFi fork protocol is rewriting VC games
” Fair Startup” makes encrypted VCs shit, really? 》
Venture capital funds purely for the purpose of making money will have less influence in the crypto field in the future, from venture capital to “altruistic capital.”
“A list of the “Heirs ” of YFI: YAM, SushiSwap, Swerve… ”
Forking mature DeFi projects, giving YFI a mining distribution mechanism, is accelerating the emergence of various innovative projects.
” YFI and Sushi are hot, the fair-launched community token is changing the VC game? 》
VCs need to buy chips from retail investors to enter the ranks of YFI.
” Interpretation of Popular DeFi Protocol Fork Trends: Taking SushiSwap and Swerve as Examples ”
There will be a struggle between the original agreement with branding and development talent and the agreement with “fairer” distribution and more community-driven governance.
Interpreting popular DeFi fork agreements
Sushiswap
” What about the blood sucked Uniswap? 》
Fortunately, Uniswap has announced that it is developing the V3 version of the agreement. Hayden Adams has publicly stated that the next version will solve all the problems currently encountered by AMM.
” Vampire Attack: How can Sushiswap rob Uniswap liquidity?” 》
In a game of liquid mining, miners are only loyal to returns and profitability, not to the platform.
” Three Points to Know Sushiswap: Automated Market Makers Introducing Token Economic Incentives ”
Sushiswap adds token economic incentives on the basis of Uniswap, and distributes part of its transaction fees to token holders.
Yam Finance
“Is YAM just a money game?” The initiator personally stated its operating mechanism and value ”
YAM is a money game on the surface, but it has the potential to become a financial agreement for fund accumulation and distribution.
” 5 minutes to understand the DeFi experimental mining project Yam Finance ”
Combining YFI’s fair distribution and AMPL’s flexible supply mechanism, it supports almost all mainstream DeFi token mining.
” A Brief Analysis of YAM Startup Method and Rebase Mechanism ”
YAM is a “Satoshi Nakamoto Project” with more tricks.
” YAM voted to migrate to V3, a brief description of the new version’s features and token economy ”
From YAM V2 to YAM V3 tokens are migrated in a 1:1 ratio, 50% of which can be redeemed immediately, and the remaining 50% will be gradually unlocked in 30 days.
Swerve
” $380 million locked in 12 hours? Pantera partners interpret “Community Edition Curve” Swerve ”
Curve was questioned by the community because the team held 70% of the voting rights. An anonymous developer launched Curve’s fork project Swerve, 100% held by the community.
BASED
” 5 minutes to understand DeFi mobile farming anonymous project BASED ”
Less than 24 hours after the launch, liquidity miners injected a total of more than 13.92 million US dollars into the two pledge pools of the contract.
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