Explore the Latest Developments in the DeFi Space in 2024 π
The decentralized finance (DeFi) sector is experiencing rapid evolution, with various significant launches and updates making waves. From the introduction of Term Structure’s mainnet to dYdX’s Android app launch and the revolution brought by 3Jane on EigenLayer, the DeFi space is brimming with innovation and progress. Let’s delve into the latest happenings in the DeFi ecosystem.
Term Structure Unveils Mainnet for Institutional-Grade Fixed-Income Protocol π¦
Term Structure has recently launched its mainnet on Ethereum, introducing the first market-driven, institutional-grade fixed-income protocol. This innovative platform is transforming the way lenders and borrowers handle liquidity in the DeFi landscape.
- The platform allows users to borrow tokens at fixed rates and terms by utilizing their liquid staking tokens (LSTs) and liquid restaking tokens (LRTs).
- Users can earn points and staking rewards while the auction mechanism in the primary markets facilitates borrowing and lending.
- The secondary markets offer a real-time order book, enhancing liquidity by enabling the trading of fixed-income tokens.
Term Structure aims to establish new global standards in liquidity management through this launch, enabling users to secure a fixed cost of funds and leverage opportunities for higher floating annual percentage yields (APYs) or capitalize on token price appreciation.
Jerry Li, Term Structure CEO, mentioned:
βOur mainnet, designed to cater to institutional clients, traders, and retail investors, marks a pivotal development in DeFi. It allows users to leverage their digital assets with fixed rates and terms.β
dYdX Launches Android App and Upgrades to Chain v5.0 βοΈ
dYdX, a perpetual trading decentralized exchange (DEX), has rolled out its app on Android, offering all current features of the dYdX chain. Additionally, the platform has upgraded to dYdX Chain v5.0, introducing several improvements as per community voting.
- The upgrade brought Isolated Markets, Batch order cancellation, Protocol-enshrined liquidity provider (LP) Vault, and other enhancements.
- dYdX Chain currently boasts a total value locked (TVL) of $146.28 million, as reported by DefiLlama data.
The integration of these updates and the launch of the Android app aim to enhance user experience and provide access to advanced features on the dYdX platform.
3Jane Innovates Restaking with Derivatives Yield on EigenLayer π
3Jane, a derivatives yield protocol, has introduced a new derivatives yield layer on EigenLayer, allowing users to collateralize restaked ETH in derivatives contracts. This innovative approach unlocks a novel source of yield for restakers, propelling financialization within the DeFi ecosystem.
- Users can collateralize exotic yield-bearing tokens across several platforms in options contracts, maximizing their earnings.
- The protocol facilitates the sale of deep out-of-the-money options through 3Jane Vaults, accruing premiums to wrapped deposits.
By expanding the capabilities of restaking and derivatives, 3Jane is paving the way for new strategies and yield opportunities in DeFi.
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