Inventory of 3 new DeFi projects that have not yet issued coins: What are the innovations?
Compilation of the original text: Deep Tide TechFlow
Compilation of the original text: Deep Tide TechFlow
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Project 1: TapiocaDAO
Twitter: https://twitter.com/tapioca_dao
Tapioca is a full-chain money market where users will be able to borrow and lend some of the most important assets in DeFi, including ETH, stETH, BNB, MATIC, AVAX, and even GLP.
Its real key innovation is that users can deposit any of the above assets on any network and then lend them out wherever they like.
Tapioca is about capturing value for the sake of creating value, so Tapioca launched the first real use case of oTokens.
oTokens (oTAP) are option tokens that allow you to purchase TAP Tokens at a discounted price compared to the publicly traded price on the market. This way, users will receive oTAP tokens based on the amount of assets they deposited and when they deposited.
Why we like Tapioca:
In our opinion, LayerZero is the future.
The innovative money market is just the beginning for Tapioca...
The fastest growing community in DeFi
Bentobox v2 commercial licensing creates a moat.
A truly innovative and forward thinking team.
USD 0 is a fully backed Collateralized Debt Position (CDP) stablecoin that does not rely on TAP incentives to maintain the peg.
TAP locked in to align long-term value investors.
There is no traditional venture capital, all DeFi native investors.
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Project 2: Infinity Pools
Twitter: https://twitter.com/InfPools
An exchange that offers up to 10,000x leverage, no liquidation, and the ability to trade any token sounds like a scam, doesn't it?
Actually, it's not a scam, but the words do grab your attention. Once you get to the bottom of Infinity Pools, it starts to make some sense.
Up to 10,000x leverage - why would anyone need such high leverage? Those looking to speculate on low-delta currency pairs (such as forex, stablecoin pairs, interest rate swaps, etc.) may seek leverage of 100-1,000x (or more).
Infinity Pools uses the centralized liquidity of Uniswap v3, allowing users to gain leveraged exposure to any liquid asset.
Of course, users must provide funds in advance to use leverage, similar to a margin position, and if the trade goes against the trend, they will lose their funds. This isn't technically a liquidation, since assets don't need to be repurchased or sold to pay off bad debts. This is more like an automatic repayment, once the position exceeds the profit range, it will be automatically repaid from the trader to the LP.
Is there an airdrop? There is no sign of an airdrop yet. Having said that, as far as we know, the testnet should be live by the end of Q2, so we recommend entering their Discord.
Why do we like this project?
We are bullish on innovative products.
The team has had successful products such as Lemma Finance.
Projects built on centralized liquidity will dominate.
Current leverage protocols are constrained by the depth of liquidity, Infinity Pools uses existing Uni v3 liquidity to make it more capital efficient.
Unique high leverage model.
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Project 3: GammaSwap
Twitter: https://twitter.com/GammaSwapLabs
There is a long-standing problem in DeFi that those who provide liquidity to decentralized exchanges (AMMs) do not make money. But where did those costs go?
Yes, looking at LP providers seems to make a lot of money. Whenever a trade is made between two assets, a transaction fee is collected and distributed among all participants in proportion to their presence in the pool.
The problem is, cryptocurrencies are very volatile. When tokens are in an upward trend, it is more beneficial for LP providers to hold underlying assets naked. Until now, providing liquidity was unsustainable because it didn't make money.
GammaSwap has a solution.
Through GammaSwap, those providing liquidity can hedge against their anticipated impermanent losses.
How to do it?
LPs want high volume (lots of transaction fees), low volatility (prices between two assets not too far apart).
Take ETH and USDC as an example, using GammaSwap, if you expect a period of volatility and want to hedge, you can use GammaSwap to effectively borrow more LP tokens, decompose them into basic ETH and USDC assets, and Catch an upward or downward trend in price.
In this way, although your LP position consumes a lot of IL, you hold ETH or USDC for a short period of time, thereby offsetting the IL and making money.
In short, GammaSwap is a DEX that allows LPs to earn additional income. Yield comes from those looking to speculate on volatility between underlying LP assets. If traders expect volatility in your LP positions, they can borrow your LP on GammaSwap and pay a fee for it.
Alternatively, you can borrow your LP position and hedge your own IL.
Why are we bullish on GammaSwap?
We are bullish on innovation, and this is not yet the final product of GammaSwap.
Many of the GMX team are investors in GammaSwap.
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