Sushi is not Makuniswap v3 ammi, and Maki is not Sushi either
This begs the question, what exactly is the meta universe? Is it just one platform, or the sum of all platforms? Ask 10 different people ihow to buy bitcoin from blockchain appn an encrypted meeting and you will get 10 different definitions. Venture capitalist Matthew Bauer wrote: "We should not expect to have a single and comprehensive definition of'meta universe'." "Meta universe is best understood as a'further development of the mobile Internet'. This is because of the meta universe. The universe will not fundamentally replace the Internet, but iteratively transform on its basis."Maybe today and tomorrow, Metaverse is just an online virtual world—like Decentraland, Crypto Voxel, and The Sandbox—where you can play fast games, browse NFTs in art galleries, or hold online parties. This is the initial stage of the meta universe. But after 5, 10, or 20 years, Metaverse may replace most of the work you do online or even offline.
What path will we take to realize the future of this meta-universe? Centralized technology route through Facebook? Or through a new decentralized model? As the NFT artist "6529.eth" asked in a viral Twitter thread, "What we are playing is whether our children will be completely immersed in the digital world in the future-there is an illusion of freedom, but not true freedom ."COVID (new crown), art, zombiesI visited Decentraland for the first time a year ago. Although I am very interested in the potential of the meta universe, I feel sparsely populated. "To be honest, we released the product before it was really ready," said Sam Hamilton, head of community and events at the Decentraland Foundation. "So we rolled up our sleeves and continued to do it." The team launched more content and more activities-art exhibitions, conferences, music festivals, "tasks", and then crowds flooded in, and monthly users jumped from 7,000 to 70,000.Several things can explain this growth: the boom of NFTs, the proliferation of crypto games that make money from games, and possibly even a pandemic. Sandbox Chief Artist Voxel Bunny said: "The COVID is a terrible thing. We have all suffered tremendous pain. At the same time, surfing the Internet is a normal state, and Metaverse feels more approachable and attractive."Meta universe can become a home of art. We now live in a world where celebrities such as Stephen Curry, Grimes, Paris Hilton, Jack Dorsey and Sean Mendes are buying or casting NFTs. How do you show your art? How do you show off your Ape NFT? Decentraland has created a more immersive way to appreciate NFT, not just staring at your phone. Artists are seizing this opportunity. The NFT series "Women's World"-featuring 10,000 women and emphasizing diversity and inclusiveness-plans to buy a piece of land in a sandbox and then build a museum to hang pictures and animations.
"Is'metaverse maximalist' a term?" asked Gordon Goner, one of the anonymous co-founders of the Boring Ape Yacht Club. Goner is a metacosmic minimalist. (He just coined the term.) "I am very confident that we are less than 20 years away from the experience of the'top player'," Goner said. Bored Apes is taking root in Decentraland and the sandbox; Goner said the club’s sandbox plan is still “confidential,” but you will be able to move around in the meta-universe like your three-dimensional “ape”. In Decentraland, you can spend time in the Bored Ape Yacht Club riverboat casino.Yuan Universe is also investing in art. On September 7, Sandbox purchased one of the rarest boring apes, "Captain", for 740 ETH or approximately US$2.4 million. "We firmly believe that culture, whether it is games, music or visual arts, will become one of the pillars of the open and encrypted meta-universe," Sandbox explained at the time. "We don't just build and sell. We also invest and help build the ecosystem."Beta Finance received a strategic investment in July this year. Investors include Spartan Group, ParaFi Capital, Multicoin Capital, DeFiance Capital and Delphi Digital. Generally speaking, the investors have a pretty good background.
1. Unlicensed money marketLike Euler, Beta Finance also pays attention to the long-tail lending market outside of mainstream assets and regards it as the main target market. Users can freely create asset classes that Beta Finance does not currently have to lend out their own crypto assets, but this feature has not yet been opened.2. Provide a convenient asset shorting experienceThrough Beta Finance, users can short an asset with one click by borrowing. Although users can also lend assets short on other lending platforms, they currently face two problems:
The operation is relatively cumbersome, requiring mortgage assets, lending short assets, and selling short assets to DEX. The cost of time and contract costs are relatively high.Mainstream lending platforms only support mainstream assets, the range of options is small, and the price fluctuations of mainstream assets are small, and the potential for short-selling is insufficient
Beta Finance fits the needs of users on these two points.First of all, it provides a one-click short-selling interface for short sellers. Users can quickly select their short-selling collateral and short-selling objects. Beta will automatically borrow the corresponding short assets through its own currency market and sell short on the selected DEX. , And then the assets obtained from the sale will continue to be included in the collateral to reduce risk. In this process, users do not need to interact with multiple protocols, thus saving high gas fees and avoiding rushing in the face of sudden market opportunities.In addition to the improvement of the short-selling experience and the reduction of costs, Beta Finance's permissionless features and product positioning focusing on long-tail assets also mean that there will be more non-mainstream assets available for short-sellers on Beta Finance in the future. These non-mainstream assets often have more extensive short-selling or hedging needs.We have seen that despite the short launch time of the product, the TVL of the project has risen rapidly. On the one hand, Alpha endorsed the project. On the other hand, the official also publicly stated that subsequent airdrops will be carried out for deposit and borrowing and short-selling users. The project brought in a lot of funds. However, the utilization rate of Beta Finance funds is currently low.
Among all the listed assets, USDC ranks first in deposit volume and capital utilization rate.We found that because Beta is in the first stage of its launch, 16 of the assets are all certified assets (Verified Markets) that are officially reviewed and rated. Among them, the only asset of Risky Markets is Feisty Doge NFT's fragmented token NFD. , NFD is an ERC-20 ownership token after the Feisty Doge NFT (Dogecoin prototype NFT) is split on the NFT fragmentation protocol Fractional. It is a typical long-tail asset and it is also the main asset type that Beta Finance wants to support in the future. .Beta Finance's product functional interface style is simple, the layout is reasonable, the interactive design also conforms to the user's intuition, and it is easy to use. On each business function page, the data display is also quite detailed, which is reassuring.At present, the project has not issued any tokens, nor has any information related to the total amount of tokens and distribution methods found on the official website, nor has it described the usage and scenarios of the tokens.
It is expected that the detailed token model will not be disclosed until the tokens start to be distributed.risk control
Beta Finance will classify certified assets (Verified Markets), with the highest level being S level (three stable coins), followed by ETH and WBTC being AA level. Different levels of collateral correspond to different lending rates (LTV) and liquidation line parameters, but currently only ETH and three stable coins are supported as collateral.Beta Finance's certified asset level and corresponding risk parameters, source: Beta Finance document
It is worth mentioning that Beta Finance also disclosed the classification logic and model of certified assets. The evaluation dimensions include smart contracts of assets, counterparties and transactions of assets, which are very detailed.In terms of smart contracts, Beta Finance has obtained reports from Peckshield and OpenZeppelin, two audit institutions, and has launched a Bug bounty program in cooperation with Immunefi.On the whole, Beta Finance's security preparations are relatively complete.SummarizeBeta Finance has accurate product positioning and business scenarios, focusing on long-tail asset lending and short-selling services, which is a distinct difference from the existing large-scale lending platforms. Its product concept is concise, and the functional combination of long tail assets + one-click shorting also has a large market growth space. In addition, Beta Finance's investor background is quite good. Although the project has not officially started the token distribution and has not announced the token model, it deserves long-term attention.Project Status
Product launch time: August 19, 2021Benqi is the first native lending agreement on Avalanche, led by Ascensive Assets, with participation from Dragonfly Capital, Spartan Group, Ava Labs, GBV Capital and other institutions. Benqi's current products are similar to most mainstream lending platforms, adopting the borrowing model of a pool of funds, and all product mechanisms are quite satisfactory, without much innovation.
Project FeaturesAs mentioned above, Benqi itself does not have much innovation in mechanism. Its TVL soaring comes from first-mover advantage on the one hand, and from the 3 million US dollar liquidity mining jointly launched by Benqi and the Avax Foundation on the other hand. In addition to mining subsidies, Benqi itself will also distribute project tokens QI to the users of the agreement as a reward. The total monthly subsidy amount exceeds 10 million U.S. dollars.
Business conditionsBenqi is the largest project in the avalanche protocol ecology. According to data from DeFi Llama, its TVL has accounted for 47% of the total TVL of the avalanche protocol.
We can find that Benqi's high total funds and capital utilization rate are largely due to the higher token subsidies at the current stage.Product UI/UXBenqi's product interface is relatively simple and quite satisfactory. Compared with Qubit and Beta Finance, it displays less data and still has room for improvement.Last week, I became a consultant for Sushi.com. In the past year, we have gone through a crazy journey, from launching the income farm to migrating more than one billion US dollars from Uniswap to Sushiswap in "Vampire Attack".
When Chef Nomi decided to cash in on the road, he was experimenting with human greed. Many community members not only believed in the initial value from the first day of the project, but also decided to continue to invest in construction desperately. They fell into the abyss and then stood up again.We now have more than 20 core contributors, able to integrate all UI into one, and launch another two protocols Kashi and Miso, which are deployed on more than 10 EVM compatible chains (Polygon, Arbitrum, Fantom, Harmony, xDai, Avalanche, Moonriver and many more). We are trying a new NFT project. Trident has opened the source code a few days ago. I feel confident that the current team can pursue and develop this without me. project.
I will change from day-to-day operations to a consultant role to help cultivate the next generation of teams built on Sushi, support from the side, and help the wider DeFi ecosystem, no matter where they are deployed, it doesn’t matter. I still believe in the Ethereum community, especially after Layer 2 goes live. The most exciting experiments all appeared in Ethereum first. Of course, such exciting attempts are being made elsewhere.I have been working hard to make Sushi a leaderless organization. My role is a contributor. I don't want anyone to recommend any member to the throne and become the so-called "leader" of Sushi. I will encourage decentralization as much as possible. Some things are crucial, such as on-chain governance, recommendation programs for various products (Kashi and Trident!), oSushi guides emissions in a transparent manner, and so on.
The liquidity providers of Sushi and ETH, as well as the holders of xSushi, have the best team in the DeFi world to serve them and should be fully utilized.I want to stay in the vault multi-signature group, but if the community does not want this, I will also withdraw after the snapshot vote.
I hope the community will not forget:All double reward programsNew agreementSushi is not Maki, and Maki is not Sushi either
MOVR liquid mining project, community members will be responsible for how to operate the funds (0.25% of the supply! Nearly 10 million US dollars at current prices)Support Avalanche Rush Incentives – Polygon – xDai – Celo (our LP's transaction volume exceeds 75 million US dollars)
All funds that join the community believe in this vision of DeFiAmazing items were first launched on Sushi, and will likely continue to be launched here!
Expand this team from 1-2 people to 24 peopleKeep Sushi's fun, open, "Degen", and radically different!