Chainfeeds Introduction:
Last night, some news from the SEC greatly increased the market's probability of passing the ETF, triggering a surge in ETH. Cryptocurrency KOL Riyue Xiaochu｜HZGB wrote an article focusing on the projects that benefited from the ETH ecosystem.
Article Source:
https://x.com/riyuexiaochu/status/1792810431402443123
Article author:
Sun and Moon Xiao Chu｜HZGB
View:
Riyue Xiaochu｜HZGB: Layer2 main projects: arb, op, strk, metis, manta. As ETH's goal to become a global computer, Layer2 is accused of taking on the prosperity of the ETH ecosystem with high TPS and low GAS. Its importance and value are self-evident. At the same time, layer2 is the sector with the highest market value in the ETH ecosystem. However, most projects are also typical of the institutional coins with low circulation and high FDV that have been criticized recently. As the three of the four kings, arb, op, and strk have FDVs exceeding 10 billion US dollars. LSD main projects: LDO, SSV, PRL. The LSD protocol is mainly a node-related staking service that appeared after the ETH Shanghai upgrade from POW to POS. LDO is the largest service provider with the highest TVL in the entire network and a circulating market value of 2 billion. Defi main projects: Pendle, uni, aave, comp, crv, mkr. Defi should be the most familiar to everyone. As the largest innovation sector in the last bull market, the application of Defi has been popularized to all aspects of daily life on the chain. Core players include uni, aave, comp, crv, mkr, etc., representing dex, lending, stablecoin trading, stablecoin issuance, etc. Due to the maturity of Defi, this cycle is basically based on previous upgrades, and the degree of innovation is not enough. Relatively innovative is Pendle, which separates tokens into principal and interest for trading future income. Pendle was also affected by the double rise of TVL and coin price some time ago. Stablecoins based on ETH collateral. Main projects: ENA, LBR. There are many ways to issue stablecoins. One of them is the issuance of collateral assets, and the largest collateral asset is undoubtedly ETH. After LSD and Restaking, the project party will use the collateralized ETH to obtain liquidity income. Such stablecoins have a natural rate of return. At the same time, the project party will carry out some token incentives, as well as dividends from minting and borrowing, etc., so the annual income is very considerable.
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