Research Summary
The report discusses the potential of Bitcoin DeFi, the rise of points programs, and the performance of various crypto networks. It highlights the potential of Bitcoin DeFi to surpass Ethereum if a significant portion of Bitcoin’s market cap enters DeFi. The report also discusses the rise of airdrop and points programs, the performance of Manta and Sei networks, and the utility of Airdrops One tool for Cosmos stakers.
Key Takeaways
Bitcoin DeFi’s Untapped Potential
- Bitcoin DeFi’s Market Opportunity: The report suggests that the market is overlooking the potential of Bitcoin DeFi. With Bitcoin’s market cap exceeding $900 billion, even a 1% entry into DeFi would make Bitcoin DeFi the second-largest DeFi ecosystem, only behind Ethereum. If 10% entered DeFi, Bitcoin DeFi would surpass Ethereum.
- Technical Advancements: Past technical limitations that hindered Bitcoin DeFi’s growth are being overcome with upgrades to ThorChain, the emergence of Ordinals, and Stacks’ upcoming Nakamoto Upgrade. These developments could pave the way for a robust Bitcoin DeFi ecosystem.
Points Programs and Airdrops
- Shift from Yield Farming: Airdrop and points programs are replacing yield farming as the primary tool of DeFi enthusiasts. This shift is a response to the failure of most yield farms in 2021, which resulted in the reward token being dumped to zero, hurting both the protocol and investors.
- Potential Airdrops: The report mentions 45 potential airdrops, highlighting active points programs. These airdrops could provide significant opportunities for DeFi enthusiasts.
Performance of Crypto Networks
- Manta’s Rapid Ascent: Manta, a modular L2, has quickly risen to the top 10 chains by Total Value Locked (TVL) following the conclusion of their token farming. This rapid growth demonstrates the dynamic nature of the DeFi industry.
- Sei Network’s High Usage: Sei Network, known for its high throughput and low transaction finality, has hit an all-time high in both transactions and users. This indicates a growing interest and usage of the network.
Tools for Stakers
- Airdrops One for Cosmos Stakers: The report highlights the utility of Airdrops One tool for stakers in the Cosmos ecosystem. The tool helps stakers keep track of the latest airdrops, many of which have expiration dates.
Actionable Insights
- Monitor Bitcoin DeFi Developments: Given the potential of Bitcoin DeFi, it would be beneficial to keep an eye on the developments in this space, particularly the upgrades to ThorChain, the emergence of Ordinals, and Stacks’ Nakamoto Upgrade.
- Explore Points Programs and Airdrops: With the shift from yield farming to points programs and airdrops, it would be worthwhile to explore these opportunities, particularly the 45 potential airdrops mentioned in the report.
- Track Performance of Crypto Networks: The performance of Manta and Sei networks indicates the dynamic nature of the DeFi industry. Monitoring the performance of these and other crypto networks could provide valuable insights.
- Utilize Tools for Stakers: For those staking in the Cosmos ecosystem, using tools like Airdrops One could help keep track of the latest airdrops and maximize potential gains.
