In recent months, some other "play while earning" mode games have become more and more popular, such as CryptoBlades, Zed Run, Cometh, REVV, etc. In fact, in the "play whftx token airdropile earning" mode games have obtained orders. After the jaw-dropping success, this game revolution is very meaningful for big-name game developers. This trend cannot be ignored. In the future, we may see some mature game industry participants begin to incorporate these ideas into their games, and Bring this game mode to a wider audience.
Over a hundred comıdex coin yorumpanies preemptively register Yuan universe trademarkFrom a literal point of view, Caishi Culture registered the trademark "Multiverse" as early as 2015.
However, it has not much connection with the currently discussed "Metaverse Metaverse". The trademark is classified as [41-Education and Entertainment], which is mainly used to organize cultural exhibitions, education and training, etc.From the above icons, it is not difficult to find that 2021 is the explosive period for registration of related trademarks of "Meta Universe", especially in September.According to the incomplete statistics of the competition, in 2021, there were about 140 applications for the Meta Universe trademark (with no repetition of the same name). The number of trademark applications from March to September were 3, 11, 4, 9, 18, and 23. 71.On September 6th, Zhongqingbao stated on the official WeChat that it would create a simulated business game "Master Brew" that can map the inner world of players to the meta universe. On September 8, Tom Cat’s Secretary-General stated on the investor relations platform that the company is firmly optimistic about the development direction of Metaverse and has established a special working group for the direction of Metaverse.Affected by many factors, Zhongqingbao's stock price soared 44% in two days, and many stocks such as Baotong Technology and Tom Cat also rose by their daily limits.
It is worth mentioning that after this, although individual companies were issued letters of attention and interviews by the regulatory authorities, they could not bear the enthusiasm of the capital market towards Meta Universe. "Meta Universe" related business labeling applications doubled, and there were about 53 registration applications from September 8th to September 18th.Focus on game manufacturers/well-known Internet manufacturers, including Tencent, Mihayou, Shengqu, Perfect World, Migu, iQiyi, etc.Many people in the Ethereum community believe that ZK Rollup is a longer-term trend. Although it is extremely difficult, Hermez acquired by StarkWare, Matter Labs, Aztec, and Polygon are all focused on programmable zero-knowledge proof breakthroughs in this field. Including the Ethereum Foundation also formed a team to develop zkEVM technology.
In this regard, the Arbitrum team said, "Today Arbitrum is the most advanced, user- and developer-friendly expansion platform. Arbitrum will continue to absorb the most advanced technology and actively promote the development of the expansion field."Interviewee: Offchain Labs (Arbitrum) CEO Steven Goldfeder and founding teamAbout #raceway scanningThis research report belongs to Mint Ventures's #赛道scan series. Compared with the #深研报 series for comprehensive analysis of individual projects, the focus of the #race scan series is to pay attention to the development trend of the track and find the The representative projects are compared horizontally to grasp the dynamics and potential projects of each track in the encryption business.
About #raceway scanningThis issue of #赛道scan focuses on the lending track, especially the development and gaming trends of lending projects between the new public chain camp and the ethereum camp.
Lending projects are one of the oldest and most important sectors in the Defi field, among which a large number of white horse-level projects have emerged, such as Aave, Compound, and MakerDAO. Most of the early leading lending projects were born in Ethereum, but with the rapid development of various new public chains in the past six months, many lending projects deployed in new public chains and multi-chains have emerged in large numbers.In addition to the differentiation of the deployment of public chains, the business types of lending projects have also evolved from basic lending and stable currency lending to new businesses such as leveraged mining lending with targeted scenarios. In addition, credit lending mainly to institutional-level customers, risk grading agreements derived from existing lending agreements, and interest rate derivatives are also gradually growing.Although many lending projects already have relatively mature business models and abundant cash flow income, there is still huge room for innovation in this industry, and it is still possible to give birth to new giants such as Aave. It is precisely because of this that lending projects are still one of the key directions of the DeFi entrepreneurial team.After scanning the newly born projects in the past 2 months, we selected 4 more representative lending projects for key analysis. They either exploded rapidly in business or have unique mechanism innovations. Through this research Report, we try to answer the following questions:
What is the actual business situation of these projects?What are their product positioning, mechanism or token design innovations?For those fast-growing projects, what are the sources of growth and how sustainable are they?Like the trading platform, the lending project is also the basic liquidity layer of the crypto world. It plays the role of a bank in the crypto world. Its essence is to coordinate the supply and demand of funds from multiple parties and match liquidity across periods. The business ceiling of this track will expand simultaneously with the expansion of the scale of the encryption business.
On the other hand, the demand for matching funds is long-term, and there is no doubt about the sustainability of this track. Although the current funding needs for encrypted lending mainly come from investment leverage, arbitrage, and short-term capital turnover, with the progress of compliance, the channel between the traditional world and encrypted finance will eventually be opened, and the real-world collateral ( The introduction of lending platforms such as real estate and corporate credits, and issuing loans to non-crypto players through stablecoins are all things that are gradually happening, which will bring more room for development to the industry.Whether as entrepreneurs, investors or ordinary users in this industry, the track of crypto lending is far from the final form. There are still a large number of new products and rich investment opportunities worth looking forward to.
As of September 16, 2021, Defi's total TVL has hit a new high since May, reaching 180 billion US dollars. Although the proportion of borrowed TVL has declined, it still occupies the bulk, with a TVL of approximately US$50 billion.The top 15 lending agreements of TVL (not including Makerdao, Liquity), data source: DefiLlama
In terms of outstanding borrowings, the current outstanding borrowing amount of all loan agreements is about 30 billion U.S. dollars.The total amount of loans in the loan agreement, data source: DebankIn terms of business volume, the established projects Aave, Compound and MakerDAO still firmly occupy the top three positions, and their TVL accounts for more than 70% of the entire lending market.However, the rise of emerging lending projects is also amazing. The top ten projects in TVL include Anchor on Terra (US$3.12 billion), Benqi on the avalanche agreement (US$1.23 billion), and Qubit (US$400 million) on BSC. Unlike the big three lending giants that originated in Ethereum, these fast-growing lending forces all come from Ethereum’s competitors, which is the hottest narrative at the moment-the new public chain.What's more surprising is that in addition to the earlier launch time of Anchor (in March this year), the official launch time of the other two projects is only less than one month.In terms of the type of lending business, whether it is the number of projects or the amount of funds, basic lending projects account for a higher proportion, followed by leveraged mining lending projects, and other relatively new ones such as risk-graded interest rate products. The business volume is currently relatively small.
This research report will focus on newly born lending projects in the past 1-2 months with rapid business growth (TVL has entered the top 15 lending category), and Euler, a project with many innovative combinations in mechanism.The following is a detailed analysis and analysis of each item.
In the combing and analysis part, the author will present and analyze the product positioning, project characteristics, business conditions, token model and risk control of the four projects, in order to analyze these four emerging lending projects as a whole as possible.Basic lending platform
Project StatusProduct launch time: August 24, 2021
Qubit is a decentralized currency market that uses a mainstream borrowing capital pool model. Qubit's development and operation team is the team behind Pancakebunny-Mound, which was first deployed on BSC, and there are plans for multi-chain expansion in the future.Project FeaturesThe main features of Qubit compared to other basic lending projects are:Its token QBT can increase the rate of return of deposit users after lock-up, which is called "Boost" function
Qubit is part of Mound’s product matrix, and Mound’s products are highly combinableQubit does not support lightning loan function
Business conditionsBusiness data
Qubit's core business data are as follows:We can find that although Qubit's project has been online for less than a month, it currently has a considerable amount of deposits and the utilization rate of funds is relatively high. This is related to Bunny's previous accumulation of a large number of BSC users and the relatively high amount of token subsidies for the project. Currently, QBT's single-day subsidy amount is around US$190,000.
Product UIUXQubit's product UI style is simple and clear, the interaction is smooth, the display of key data is reasonable and detailed, and the overall user experience is better.Qubit product main interface, https://qbt.fi/appMoreover, the current business data and risk parameters of Qubit's specific assets are very detailed, and graphically processed, and there are some historical data available for checking, which is worthy of recognition.
Token modelTotal and supply
The total amount of QBT is 1 billion, of which 57% is used for liquid mining rewards, and the remaining 43% is controlled by the team. The specific distribution ratio is as follows:QBT distribution ratio, source: Qubit project document
The total amount of 1 billion QBT will be distributed within one year, so QBT will face very high inflationary pressure in the next 12 months. The specific token unlocking rhythm is as follows:In my opinion, there are two core problems in the supply and release mechanism of Qubit tokens: