Research Summary
This report discusses the recent developments in Friend Tech and Raft.fi. Friend Tech has seen a significant increase in volume, with millions being passed onto creators. However, there has been a notable sell-off in the last two days. Raft.fi, a CDP protocol, has seen a decrease in TVL from its peak, but recent developments may lead to yield opportunities on stables. The report also highlights the successful repeg of Raft’s native stablecoin (R).
Key Takeaways
Friend Tech’s Performance
- Increased Volume: Friend Tech has experienced its biggest week yet for volume, with 53,800e traded through the platform in the last 7 days.
- Revenue Generation: The increased volume has resulted in healthy revenue for both creators and the team, with over 2500e each this week.
- Significant Sell-off: Despite the increased volume and revenue, there has been a significant sell-off in the last two days, with no clear reason as to who is selling off and why.
Raft.fi’s Developments
- Decreased TVL: Raft.fi’s TVL has decreased significantly from its peak, currently standing at ~$36m down from ~$65m.
- Successful Repeg: Despite the decrease in TVL, Raft.fi has successfully repegged its native stablecoin (R), which is now trading just ~$0.004 below peg.
- New Features: Raft.fi has introduced new features such as a Peg Stability Module, Interest Rate Vaults, and an R Savings Rate, which have contributed to the successful repeg.
Actionable Insights
- Monitor Friend Tech’s Performance: Given the recent sell-off, it would be beneficial to keep a close eye on Friend Tech’s performance and the potential implications of this trend.
- Investigate Raft.fi’s Developments: The successful repeg of Raft.fi’s native stablecoin and the introduction of new features present potential opportunities that warrant further investigation.
- Explore Yield Opportunities: The developments in Raft.fi may lead to yield opportunities on stables, which could be worth exploring.
