Research Summary

The report discusses the next big step for DeFi, focusing on the need for improved user experience (UX) solutions. It highlights three new UX solutions: Coinbase Smart Wallet, Fuse, and Infinex. The report also introduces Neura, a blockchain for AI developed by Ankr, and discusses the growth of Pendle, a DeFi project. Lastly, it provides updates on various DeFi news and developments.

Key Takeaways

Improving DeFi User Experience

  • Need for Better UX: The report emphasizes the need for improved UX solutions to drive DeFi mass adoption. It suggests that less than 10% of the estimated 500 million people who bought crypto on a CEX have completed at least one on-chain transaction, indicating a gap in user experience.
  • Coinbase Smart Wallet: This solution simplifies the onboarding process, supports batched transactions, and allows protocols to pay gas fees on behalf of users. It also integrates with Coinbase accounts, enabling users to use their Coinbase CEX Account balance to pay for web3 wallet transactions.
  • Fuse: The first smart wallet for Solana, Fuse simplifies the creation of a personal smart account on Solana and offers features like gas abstraction, spending limits, wallet recovery, and an intuitive CEX-like user interface.
  • Infinex: Founded by the creator of Synthetix, Infinex is a UX layer project that offers chain abstraction, making cross-chain transfers effortless and removing the complexity of the bridging process.

Neura: Blockchain for AI

  • Neura’s Offering: Developed by Ankr, Neura is an EVM blockchain designed to address challenges faced by AI developers, such as lack of GPU resources, funding, and scaling data accessibility. It introduces an innovative funding model for AI startups called the Initial Model Offering (IMO).

Pendle’s Growth

  • Pendle’s Success: The report highlights the growth of Pendle, a DeFi project that has seen its Total Value Locked (TVL) increase from less than $250 million at the beginning of 2024 to almost $7 billion.

Actionable Insights

  • Explore New UX Solutions: Businesses and investors should explore the new UX solutions highlighted in the report, such as Coinbase Smart Wallet, Fuse, and Infinex, to understand their potential impact on DeFi adoption.
  • Consider the Potential of Neura: Stakeholders should consider the potential of Neura, a blockchain for AI, and its innovative funding model, the Initial Model Offering (IMO), which could revolutionize funding for AI startups.
  • Monitor the Growth of Pendle: Investors and businesses should monitor the growth of Pendle, a DeFi project that has seen significant growth in its Total Value Locked (TVL), indicating its potential for future success.

Related Research