- TVL has just peaked ATH at $2.6b since the parabolic run-up when Avalanche Rush was announced
- TVL has increased ~10x since the announcement and continues to climb.
2/ Bridge inflows:
- Over the past 30 days, there's been $1.35b net inflows from the ETH bridge
- 20 of the 30 days have recorded net inflows
- Last 7 days have recorded inflows > outflows leading up to Avalanche Rush
3/ DEX flows:
- Trader Joe continues to remain the dominant DEX after surpassing Pangolin earlier this month.
- Trader Joe past 7D Volume: $1.1b
- Trader Joe TVL: $618m
- Pangolin past 7D Volume: $685m
- Pangolin TVL: $376m
- 10m AVAX tokens (~$600m) carved out for a multi-month incentive program
- Touted to go live in a week, with Aave / Curve / Sushi / Pangolin / Joe deployment offering AVAX incentives
Since the inception of crypto-assets, tokenomics have been a fresh attempt at designing asset ownership instruments from first principles.
However, we're just scratching the surface. A thread on how tokenomics can develop in a xchain world
👇
1/ Recap
Currently, tokens are used primarily as a growth marketing tool. Via liquidity mining, protocols spend 'equity' in return for bootstrapping initial adoption.
This has been wildly successful, with Compound's LM event kickstarting the original DeFi Summer last year.
2/ Since then, LM programs have been the bread & butter growth hacking mechanism for new protocols.
However designing LM programs are extremely tricky.
Give away too much, and you'll have little left in the tank for the future. Too little, and competitors will overshadow you.
4 months ago, Bancor released their flagship single sided Impermanent Loss protection solution for LPs.
70x increase in TVL and 55x increase in volume later,
I present a deep dive on a forgotten DEX that may be the dark horse of 2021
👇
1/ Story so far
Bancor is a OG DEX launched in 2018 (to much fanfare) but suffered from an overcomplicated token model and lacked noticeable traction despite lofty promises.
2/ After 2 years of behind the scenes product iteration and a leadership reshuffle, the original Bancor vision is being realised. Consequently, the Bancorian community is stronger than ever led by @yudilevi@NateHindman@MBRichardson87.
2/ dHedge's value proposition is simple. It provides a platform for active fund managers to showcase their trading prowess, with a transparent scoreboard for all to see.
Managers can also interact with their investors via public and private posts
3/ Since Mainnet launch in late Oct 2020, dHedge's traction has been growing steadily with ~14m TVL today and over 200 active managers.
Cumulative trading vol on the platform stand at $87m, providing a nice boost to the underlying SNX system as well.