DeFi Weekly Report: The number of DeFi users is growing exponentially
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Data source: Coinmetrics
BTC has maintained a high correlation with the S&P in the near future, and has nothing to do with the trend of gold.
DeFi data:
(Data source: Debank, HyperFin official website, CoinMarketCap)
The operation of the DeFi platform:
Deposit rate/deposit (mortgage) amount:
Borrowing rate/amount of loan:
Liquidation volume this week:
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Adjusted Daily Trade Volume 2020-05-09, DAI, CoinMarketCap
Adjust Daily Trade Volume 2020-05-09, USDT, CoinMarketCap
Adjust Daily Trade Volume 2020-05-09, USDC, CoinMarketCap
Adjust Daily Trade Volume 2020-05-09, BUSD, CoinMarketCap
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Data source: duneanalytics
Data source: duneanalytics
Although the current market size of DeFi is obviously small, the number of users is growing exponentially, and the current number of DeFi users has exceeded 160,000.
This week's DeFi news roundup:
1. General Protocols completed more than US$1 million in seed round financing;
2. V God: Malicious attacks are by no means an inherent feature of DeFi;
3. Compound supports USDT lending;
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This week's DeFi market summary
Stimulated by the halving expectation, the BTC market price has gradually risen, and the market's view on the continued price rise has gradually formed a consensus, which was then transmitted to other mainstream currencies. The total amount of US dollars locked in DeFi has continued to rise recently, an increase from last week 5%, this is the fulfillment of investors' bullish expectations:
Zooming in on the time period, the total amount of locked US dollars is almost the same as when it fell sharply on March 12, and the number of people using DeFi has increased exponentially. However, we can also see that the mortgage rate remains high on top DeFi mortgage lending platforms. The HyperFin Research Institute believes that in the current decentralized lending, there is no credible credit score, and only over-collateralization can be used, which limits the overall market size. Of course, this is also due to the possibility of liquidation on the DeFi platform when extreme market conditions occur Caton and other issues, if the identity/reputation system is introduced, it will make it possible to reduce collateral requirements.
Even though some DeFi have experienced relatively serious theft incidents, industry pioneers are still optimistic about the future development of DeFi: V God admits that open source codes are easy to be cracked by hackers, but this is not an inherent attribute of DeFi; The recent sharing pointed out that with the expansion of the DeFi ecosystem and the introduction of cross-chain technology, the entire market will become more prosperous.
With the rise of the currency price, the HyperFin Research Institute also reminds investors to pay attention to the supervision and crackdown on DeFi by policies, because DeFi is still in a gray area in many cases and does not comply with anti-money laundering and KYC rules. The tax system in the system does not imperfect.
