The author has selected 10 innovative projects worth paying attention to, including DEX, Game, and on-chain tools. In addition to DeFi innovative projects, there are also two insurance projects worth mentioning: a BTC-backed life insurance project and a platform that provides insurance for tethered assets. Attacks on DeFi projects in the cryptocurrency industry are common, so insurance-related new projects are worth paying attention to and may be part of the future narrative. Another promising project is an on-chain gaming platform based on luck, which is simpler and more direct compared to traditional gambling and may be favored by users. The following are the projects worth paying attention to:
DeDeLend is the first on-chain options aggregator platform. Users can trade on it through its simple and intuitive UI, including perpetual swaps (GMX and Gains) and options (Hegic, Lyra, Premia, Dopex) trading.
The biggest problem facing DeFi options is the fragmentation of liquidity, and DeDeLend is here to solve that problem. Unlike options platforms like Deribit, decentralized solutions seem unable to accumulate liquidity for large-scale trades, which is exactly where DeDeLend fits in. One example given by the team is “For example, you can create a Strangle by combining Hegic’s Call option with Lyra’s Put option.”
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DeDeLend has two main features: a unified trading terminal and a margin account.
The unified trading terminal is similar to aggregators like bungee (cross-chain asset aggregator). For example, when conducting perpetual trading, users can choose between GMX or GNS, and when conducting options trading, they can choose between Hegic or Lyra, and find the most suitable trading platform with just one click. In addition, DeDeLend allows the setting of stop-loss or take-profit orders (only applicable to trades conducted through Hegic and Lyra), automatically closing positions when the predetermined loss level is reached. This eliminates the need for users to constantly monitor asset price fluctuations, allowing for effective risk management and preventing significant losses. Additionally, the unified trading terminal greatly enhances the user experience.
The margin account is another important product of DeDeLend, providing practical features such as multi-collateral, full collateral, and leverage of up to 5 times. This allows users to effectively manage trading activities, use multiple assets as collateral, and gain greater purchasing power.
Overall, DeDeLend opens up a new dimension for DeFi options trading, but the platform has not yet mentioned tokens or a roadmap. We look forward to further updates on this project.
The GameFi narrative in the gambling industry has been going through cyclical cycles, and Bingo 0x is an on-chain gambling game platform worth paying attention to as the main participant in the next cycle of gambling narratives.
The gameplay of Bingo 0x is very simple. Players need to purchase a card/ticket with their chosen numbers and then watch as random numbers with letters (such as A-7) are drawn until a player completes a “Bingo” pattern. Similar to scratch cards, the winner’s card needs to have a collection of winning numbers or partial numbers, and the winner’s prize is paid in cryptocurrency and stablecoins. Perhaps this platform will support other luck-based games in the future.
Bingo 0x does not conduct complex casino-like games like most GambleFi platforms. Compared to other on-chain gambling platforms, the advantage of Bingo 0x is that the game is simple, direct, and transparent.
Currently, there is not much information about Bingo 0x. Bingo 0x is supported by UltiverseDAO and will launch the testnet BETA version on opBNB next week.
One Click Crypto
1 CC is a platform that evaluates users’ risk avoidance level through AI. The AI will analyze users’ on-chain history through wallets and build personalized recommendations based on their profiles. For the cryptocurrency industry, it is quite innovative to generate investment portfolios through answering questions.
First, the system prompts users to answer a few questions, and then evaluates users’ risk avoidance level based on their answers and on-chain history. After that, the AI will generate the most suitable investment portfolio for the user. With just one click, AI creates an investment portfolio utilizing 5 protocols and 10 pools on the blockchain, with an average APY of 28.34%.
In addition, the project’s token 1 CC will be launched soon. The airdrop plan has been revealed, which states that a snapshot of OBT token holders will be taken 7 days before the launch of 1 CC, and the rewards will be airdropped the next day. Every 3.5 OBT holders will receive one 1 CC token. For more information about OBT, please refer to this link. Do your own research (DYOR)!
meanwhile is the industry’s first Bitcoin-backed, AI-driven life insurance company that only accepts BTC as premiums and pays all claims in BTC. The company’s executives and some investors believe that BTC is becoming a global store of value currency and functional currency.
Here are the reasons why meanwhile is worth considering:
– It is the first life insurance company supported by BTC and driven by artificial intelligence, and it has already gone public.
– It raised $19 million in a $100 million valuation, with the first seed funding led by OpenAI CEO Sam Altman and Lachy Groom, a former employee of payment giant Stripe. The second seed round was led by Gradient Ventures, a Google-backed venture capital fund.
– This life insurance company is licensed and regulated in Bermuda, compliant with US tax law, and currently only accepts US users.
– It is also a good method for intergenerational wealth transfer in the crypto industry. For example, if you buy death insurance for 10 bitcoins, your next generation will have the opportunity to receive 25 bitcoins in the future. Just imagine how much the value of bitcoins will be in many years.
The company uses AI to process claims and assess applicants’ health risks, and only trades in bitcoins. Customers pay premiums in cryptocurrency monthly, and claims are paid in cryptocurrency as well. Like many other life insurance providers, it uses a portion of the monthly premiums for lending and earns interest.
Cordyceps is a DeFi insurance and options platform that is part of the Root ecosystem. Cordyceps is a platform that provides insurance for pegged assets (such as stablecoins or liquid staking derivatives), and users can provide collateral arbitrage for assets with decoupling risks.
In addition, Cordyceps is a full-chain platform that brings a promising market. It can occupy a large portion of the market share. The DeFi industry is constantly innovating, and the number of DeFi derivatives is also increasing. However, due to the underutilization of the growing asset pool, derivatives lack universality. In order to comprehensively cover the DeFi insurance field, Cordyceps will also provide a wider range of market coverage in the future, not just collateral for pegged assets.
Marginly is a margin trading and derivatives application based on smart contracts, allowing users to leverage up to 20 times for long/short operations on different DEX and AMM platforms (such as Uniswap, SushiSwap, Curve, Balancer, etc.).
Marginly provides a flexible leveraged exchange interface built with a mobile-first approach and simplifies integration with DeFi aggregators, routers, and wallets. The features include:
-Marginly Trading: Leverage up to 20 times (long and short) for trading through connected DEX liquidity pools.
-Marginly Funding: Provide liquidity to independent funding pools on Marginly as loan tools available for leverage trading by other users.
-Options Strategy: Marginly introduces a combination of Uniswap v3 liquidity positions and market positions to simulate complex options strategies, allowing for profit in sideways/range markets.
The highlights of Marginly include:
-Fully Decentralized: Marginly does not rely on off-chain information and relies on Uniswap v3 oracles.
-Risk Isolation: Each Marginly liquidity pool consists of a single risky asset plus a stablecoin. With this approach, the risk is completely isolated to a single volatile asset, making it more predictable and manageable. The Marginly risk framework allows for the most efficient use of borrowed capital while ensuring strict control of the pool’s solvency.
-Liquidity Infinite Loop: Margin can realize a self-reinforcing loop where assets generated from trades can be used as leverage for reverse trades. In the end, longs pay shorts, and shorts pay longs.
-Decentralization and Liquidation: In the case of additional margin, the system automatically reduces the debt amount in the portfolio by reversing trades in the pool rather than auctioning off positions on the linked DEX.
-Order Routing: Marginly aims to execute spot trades across multiple DeFi protocols in different blockchains, which helps aggregate liquidity and enable trading of long-tail assets.
AKMD is a community-managed decentralized derivatives trading platform. It supports spot trading, perpetual contracts, options, and copy trading. The protocol allows for additional customization of markets and derivatives through governance.
For LPs (liquidity providers), they provide liquidity funds for AKMD and lock them on-chain using the ERC-4646 standard vault. Users can deposit and withdraw these funds at any time. Additionally, the tokens received by users can be used as collateral for leverage. In terms of governance, idle assets can also be reinvested in other DeFi protocols. AKMD’s dynamic deposit interest rates attract liquidity and effectively manage risks.
For spot traders on AKMD, they can enjoy the lowest trading fees, with fees as low as zero. For perpetual contract traders, AKMD currently supports leverage of up to 100 times. When collateral is locked, the exchange also offers:
– Lowest fees, even as low as zero
– Contracts with leverage of up to 100 times
– Participation in liquidity mining through margin, earning additional rewards
– Lending against available collateral positions
– On-chain copying of trades, allowing tracking of other traders’ strategies
Crust Finance is a decentralized trading platform and AMM built on the Mantle network, focusing on providing efficient token swaps and deep liquidity for stablecoins and other assets. Crust Finance uses the ve(3, 3) system to maximize the potential for users in the ecosystem to earn rewards.
Crust Finance stems from Solidly’s vision of creating a cycle of rewards through collaboration among all participants in the ecosystem. Users can lock their tokens in CRST to receive veCRST tokens, which can vote to determine which liquidity pools will receive CRST token emissions, while also receiving fees and bribes generated by liquidity pools as rewards.
Ethereal is a stablecoin protocol on the L1 protocol Radix, inspired by MakerDAO and Liquity. The project believes that MakerDAO is difficult to resist upward decoupling, and Liquity has low capital efficiency. Based on this, Ethereal introduces the EtherealUSD model, which adds instant redemption functionality, focuses on capital efficiency, and ensures the ability to stay pegged to the dollar. It emphasizes synthetic assets pegged to the US dollar, but the prerequisite for minting any asset only requires a reliable exchange rate between the synthetic asset and the collateral asset.
However, the project is still in an early stage and has only proposed a model. The subsequent operation has not been announced yet. But unlike other DEXs, the project announced an Initial Validator Offerings (IVO) event on July 1st. IVO is a new fundraising mechanism that allows users to redirect their staking rewards to their chosen projects and receive project tokens as returns.
The operation of IVO is as follows:
-DAO sets up a validator
-Users delegate the required assets to the DAO validator for a period of 6 months
-Variable fees are adjusted to 100% (sending all staking rewards to the DAO vault)
-Snapshot taken every hour to reserve tokens for IVO participants proportionally
-The first airdrop to participants is distributed before the token goes live
-Second airdrop takes place after IVO ends
Radpie is a yield optimizer project launched in collaboration with Magpie and Radiant Capital. Previously, there were Magpie and Penpie. Similar to Penpie and Magpie, Radpie also obtains dLP by locking assets and converts dLP to mdLP to increase user earnings. Users can stake mdLP on Radpie to earn RDNT and additional RDP (Radpie’s governance and revenue-sharing token) rewards and protocol fees.