Original author: Crypto, Distilled
Original translation: TechFlow
Recent news about $ETH ETFs has sparked huge attention on $ETH beta. However, where are the best opportunities in the context of high-demand, high-volume tokens?
This may be the point, as DeFi 1.0, despite being rich with truly valuable projects, is overshadowed by risky speculative projects and popular but substance-less memes.
Here are the key takeaways:
1. $UNI DEX
L2 transaction volume surged 650% in two years.
Uniswap V4 is scheduled to be launched in Q3.
The DAO proposed activating a $3.3 B “fee switch” in February.
Received notice from Wells in April
$UNI responded by claiming that 65% of its volume consists of explicitly non-securities.
2. $AAVE - Money Market
The third largest DeFi protocol with a TVL of over $10 B.
Approval to deploy Aave V3 on Solana was obtained in the first quarter.
Aave V4, a unified cross-chain liquidity solution, was released on May 1; prototyping began in Q4.
Aave’s TVL has almost doubled year-to-date.
3. $ENS – Domain Name Service
In February, ENS partnered with GoDaddy to simplify linking wallets to web pages.
In March, Google integrated wallet balances with $ETH Name Service (ENS) domains.
4. $LINK Oracle
In April, $LINK launched the cross-chain bridge application "Transporter" to improve the security of token transfer
In May, DTCC $LINK completed a pilot to accelerate fund tokenization across multiple blockchains
Participants include Franklin Templeton, Invesco, JPMorgan Chase, State Street and others.
5. $MKR - Behind the $DAI DAO
May: $MKR unveils their “end game” strategy.
Two new stablecoins were launched: NewStable and PureDAI to surpass $DAI .
NewStable focuses on practicality and scalability, and is supported by RWA.
PureDAI aims to be decentralized and is backed by assets such as ETH
6. $LDO dominates liquidity staking
In February, $LDO TVL exceeded $30B.
By April, $LDO reached 1M+ validators.
As the leading liquid staking protocol, $LDO manages 25%+ of all staked ETH.
Tailwind: $ETH staking is growing 20 times faster than $ETH issuance.
Final Thoughts
As the backbone of the $ETH ecosystem, DeFi 1.0 may be ready to re-price.
The market landscape is dynamic; please exercise caution and caution as ETFs evolve.
As always, not financial advice
