The industry reshuffle in 2022 is bound to bring new changes to encryption in 2023. One of the more concerned "changes" is that DeFi has once again rushed into people's field of vision. DeFi protocols and related research and analysis have emerged in an endless stream recently; People are very optimistic about the DeFi track in the next cycle; DeFi Summer may make a comeback. DeFi researcher Thor Hartvigsen wrote an article on "10 DeFi Protocols You Should Pay Close Attention to in 2023", compiled and compiled by BlockBeats as follows:
Uniswap
Uniswap, which dominates the Dex and AMM space, may shine this year. In the past few years, there have been many competitors in the industry, but most of them have been defeated in the bear market, such as: Astroport, Serum, Sushi, Osmosis, the cost comparison of the past 180 days is as follows:
Another important factor is UNI treasury, we may consolidate for a while, large treasury = promising future
Uniswap has by far the largest vault, even though 100% of it is UNI, which has fallen significantly.
A final thought on Uniswap is the controversial "fee switch", which involves distributing income to UNI holders, which may pose regulatory issues, but the fee switch could have a very positive impact on UNI .
Trader Joe
Trader Joe is also an agreement with a promising future in the AMM field. It was launched on the Arb chain in December and will expand to more Cross-chain this year.
Additionally, Trader Joe’s launched the highly anticipated Liquidity Ledger, which introduces centralized Liquidity pools in a different way than UNI V3, with one difference being the ability to distribute Liquidity unevenly. Click to learn
Dopex
2022 is dominated by a strong narrative around decentralized perpetual transactions (including GMX, Gains, and various forks), which is accompanied by the question of whether decentralized options will become the next mainstream. In fact, options Intrinsically more complex.
Some protocols that can deliver products in an easy-to-use way may see a lot of Liquidity inflows this year, and Dopex is one such platform that can achieve this goal through multiple products. Click to learn
Lyra Finance
Lyra Finance is also an options protocol to watch, currently on the OP chain, but a governance proposal to launch on Arbitrum and use GMX perpetual as a source of liquidity was recently approved.
Although the price of the token has dropped, the Daily fee has risen sharply from earlier this year and has shown a steady upward trend. Changes in incentives have further led to LYRA, which has almost no incentives for protocol users. Lyra has a strong token economy and a complete product .
Rocket Pool
Another new narrative in my research is Liquidity Staking Derivatives(LSD). LSD token allows investors to obtain staking benefits when using other DeFi basic tokens. Among most L 1 s, ETH has the lowest staking ratio of only 14 %.
This is likely to be related to the inability of ETH to unstake, but the Shanghai upgrade in March will solve this problem. The Shanghai upgrade may initially cause instability, but it will also stimulate the growth of various Liquidity staking solutions.
Rocket Pool is a strong contender to emerge from this narrative due to its relative size, recent rise in popularity, and having some unique features, jasper.lens wrote anarticle highlighting the growth potential of rETH and Rocket Pool.
Frax Finance
Frax Finance is a new entrant in the LSD field, with a large amount of Liquidity inflow recently. This model allows users to receive frxETH, which can be LP (frxETH/ ETH) in the curve pool or pledged on Frax Finance (sfrxETH).
Only sfrxETH can get ETH staking rewards, which leads to higher APR, because not all staked ETH is rewarded in the curve pool.
GMX
GMX has been one of the most influential protocols in 2022, partly kickstarting the "real yield" narrative after the collapse of an unsustainable economic design.
Some potential headwinds this year: regulatory uncertainty, protocols that distribute revenue to token holders that look very much like securities; persistently low trading volumes, as we have seen recently, low GLP and GMX holders APR; Increased Competition. My previous analysis on GMX
Some positives for this year: 2023 may be the year GMX launches synthetic transactions and other products that may increase user adoption and transaction volume, and the future will get even better.
Chainlink
2022 is a critical year for Chainlink, with the launch of Staking, Chainlink BUILD and Chainlink SCALE, all of which are part of Chainlink Economy 2.0.
AAVE
A few reasons to care about the protocol:
- 7th largest protocol by fees generated in 2022, GHO over-collateralized Stablecoin coming soon, rumored fees will be paid to AAVE stakers;
-Starknet start;
- Lens Protocol adoption is growing;
zkSync
Although zkSync is a Rollup chain rather than a Dapp, I am very excited about the first release of the ZK EVM.
The protocols (both native and cross-projects) launching on zkSync are definitely something to keep an eye on, and the future could be even better.
