Recent Market Thoughts
There was a strong feeling that STRC preferred stock-based DeFi (APYx, Saturn, etc.) were emerging as the next big thing in DeFi. However, on the same day, Resolve was hacked.
Intuitively, from the perspective of on-chain users, this is perceived as a situation where upside has significantly decreased while risk has only increased.
The Resolve case can be summarized as follows:
DeFi maintained stably for 2-3 years -> A track record is established, activating lending markets like Morpho and Aave -> Trust increases further, leading to allocation as collateral for Vaults (YO, USDC, etc.) and new DeFi -> But then it gets hacked -> Chain damage occurs to the projects that were exposed to it.
However, this is a case that can logically be applied to all DeFi. It is impossible to understand all smart contract vulnerabilities oneself, and one does not want to expose anything.
In that case, wouldn't categories involving wasteful farming, such as Puff DEXs, be judged to have an advantage in terms of cost and risk? This is a separate matter, but Puff DEX doesn't gain a strong edge simply because it is an "exchange token"; frankly, it is understood as a "religious token,"
which makes it even more persuasive. It appears that the token price rises as this ripple effect grows.
The market is just dead. I want to stop writing about Puff DEX, but aside from this, there are no other proven cases, and I don't see any future opportunities where existing participants can aim for upside while simultaneously proving their capabilities.
Separately, another possibility is that since $BASE, $POLY, $KALSHI?, $TRDAE(Trade.xyz)?, etc., haven't released tokens yet, wouldn't it be possible to generate meaningful profits for those with sufficient capital when they conduct token sales?
