Original title: DeFi, DeFi, or fucking DeFi
After the collective callback of DeFi from September to October, looking at the chattering DeFi blue chips, they once lost confidence in the DeFi track, and the valuation target of $1 billion or even $10 billion was also left behind. It was not until the collective rebound of blue chips in early November that they realized that the goal set at the beginning was not a picture, but an achievable goal.
After a round of DeFi reshuffle, the leading stock status of $ASSY (ASUY) was basically established, and the valuation gradually moved closer to US$1 billion and established a firm foothold, while the valuation of currencies such as REN/NXM remained at 300 million. The dollar fell into the second-tier DeFi position. At the same time, back-wave DeFi like COVER/KP3R launched a fierce attack on the previous DeFi like a scourge, vowing to take their place. After you sing it, I will appear on the stage. If the project does not have a geometric gap with competitors in terms of number of users and traffic, or if it has reached a certain achievement, it stagnates and does not innovate, then it will be driven by new projects that come from behind. It’s only a matter of time before it is super.
Polychain cleared more than 1,300 MKR tokens. It is unknown which position was changed, but at least let us understand that we can no longer stick to classical DeFi such as COMP and MKR. Only DeFi who embraces the new era can make money. Don’t Can’t make it with money.
AXS was launched in early November, and the secondary market performed well, with 6 times the return. But a single event is far from driving a track. NFT is not the main line of this bull market, DeFi is. After the September-October callback, the strong counterattack in November, and the recent market trends of various large and small DeFi projects, I am more determined. DeFi is not only the biggest hot spot in this round of bull market, it is actually a big trend. . Bitcoin in 2013, Ether in 2015, DeFi in 2020. After all, the essence of blockchain is finance.
The concept of flexible currency and Rebase has recently emerged. I thought that the track was going to die. Of course, I didn’t have much research on it, and I haven’t gained anything in this subject. However, several new flexible currencies performed well. ESD gained 10 times a month’s gains, and BASE recently gained 10 times gains in 2-3 days. When the market is good, the market of flexible currency will always come, and each round of the market will give birth to projects with different gameplay and micro-innovation. Flexible currency is characterized by its simplicity and rudeness. It is very popular among players with strong gambling and risk appetite. Therefore, flexible currency seems to be an indicator of the market.
A popular view abroad recently is: ASSY vs CUM. The former is a community project AAVE/SNX/SUSHI/YFI, and the latter is a Silicon Valley VC project COMP/UNI/MKR. It can also be seen from this wave of DeFi callbacks that ASSY’s rebound is much greater than CUM.
What makes me more entangled is the dispute between UNI and SUSHI.
I have always been determined to look more at UNI, but the recent foreign ASSY arguments, as well as the combination of AC and SUSHI and other second and third-tier DeFi projects, combined with the excellent performance of Sushi, and the rising transaction volume of the platform (COVER and later KP3R The main transaction volume is on Sushi), which made me shake a little. It turns out that I will never use Sushi.
According to AC’s play style, it is obvious that I want to transfer the main transaction volume of some currencies to Sushi. Whether it is for the short-term intent or the intention for the long-term development of Sushi, Sushi is indeed a hot spot recently. on. From the perspective of making money by speculating on coins, Sushi is indeed a cost-effective transaction.
Regarding the three major DeFi players, YFI/AAVE/UNI, as mentioned above, the difference is that the chips of the first two YFI and AAVE are fully released and changed hands, while UNI is mostly in private equity. Investor hands. This makes me strengthen one thing again, the token economy is greater than the fundamentals.
According to historical experience and data, most projects with good investment returns come from community projects, and most of the current unicorn projects and leading projects also come from communities. It can only be said that community projects have the following advantages: small market value and large space, full release of chips, no too many lock-ups, wide community participation and easy accumulation of consensus. It is essentially a game of chips.
There are still many opportunities in the DeFi track, but the format is constantly changing and very subtle. Only by constantly updating thinking, making mistakes in judgment, and making adjustments and changes, can we grasp the potential investment opportunities. The above is a summary of my thoughts in the last two months. In a word:
“DeFi, DeFi, or fucking DeFi”
