Research Summary
The report provides a comprehensive overview of the latest developments in the DeFi space, focusing on key projects, updates, and trends. It highlights the spotlight projects Kyberswap and Asymetrix, discusses updates and upgrades in DeFi, and shares insights from various research reports. The report also covers on-chain data, macro metrics, and recent exploits and bugs in the DeFi ecosystem.
Key Takeaways
Spotlight on Key Projects
- Kyberswap: The report highlights Kyberswap, a multichain DeFi exchange and aggregator on 13 chains. It notes the platform’s unique concentrated liquidity design and the recent launch of $axlUSDC Elastic farms with axelarcore.
- Asymetrix: Asymetrix, a decentralized protocol for asymmetric yields distribution generated from staking, is also spotlighted. The report explains how users can deposit stETH tokens into the Asymetrix protocol and receive Pool Share Tokens (PST) in a 1:1 ratio.
Updates and Upgrades in DeFi
- DeFi Developments: The report mentions several updates and upgrades in the DeFi space, including the cross-chain settlement of tokenized assets using CCIP, Prisma Finance increasing the debt cap for four collaterals, and the launch of zkLend mainnet.
Research Insights
- DeFi Research: The report shares insights from various research reports, including a study on LST-Backed Stablecoins and their dynamics in the DeFi space, an exploration of OP chains, and a discussion on how Chainlink services are monetized.
On-Chain Data and Macro Metrics
- On-Chain Data: The report notes that capital is finally done exiting, with positive USD inflows for six consecutive days. It also mentions that the total trading volume on DEX has remained unchanged since July, indicating stabilization of activity in the network.
- Macro Metrics: The report highlights several macro metrics, including the un-inversion of the yield curve and the Fed cutting the short end, and the S&P 500 losing $3.5 trillion in value since the Fed removed a recession from their forecast.
Exploits and Bugs
- DeFi Exploits: The report mentions several recent exploits and bugs in the DeFi space, including the exploitation of Synthetify and a possible exploit resulting in Coins.ph losing 12.2 million XRP.
Actionable Insights
- Investigate the Potential of Spotlight Projects: The report suggests looking into the potential of spotlight projects like Kyberswap and Asymetrix, which are making significant strides in the DeFi space.
- Stay Abreast of DeFi Developments: The report emphasizes the importance of staying updated with the latest updates and upgrades in the DeFi space to understand the evolving landscape.
- Consider On-Chain Data and Macro Metrics: The report advises considering on-chain data and macro metrics when making decisions, as these can provide valuable insights into market trends and dynamics.
- Be Aware of DeFi Risks: The report warns of the risks associated with DeFi, as evidenced by the recent exploits and bugs, and advises caution when participating in the DeFi ecosystem.
