Releases

Chicken bonds are a bonding mechanism that can be applied to yield-bearing tokens to bootstrap protocol-earned liquidity while boosting yields for bonders. The enhanced yield on boosted tokens is derived from yield generated on liquidity owned by the protocol as well as liquidity from users bonding underlying tokens to newly issued boosted tokens.

This month’s Monthly Chartbook focuses on the macro outlook, market structure & on-chain observations, L1s, L2s, & DeFi analysis, and an NFTs & gaming sector breakdown.

Gearbox is one of the few recent 0-1 products in DeFi, bringing a more efficient approach to leverage.

After two years of free money, DeFi yields have fallen to unimpressive levels. The days of depositing stables into a Yearn vault for 20% APY seem long gone. Crypto yields are now struggling to compete with government bonds. Users have been forced to venture further out on the risk curve to generate worthwhile returns. This usually entails prolonged exposure to cross-chain bridges and obscure yield farms – a recipe for disaster. Principal-protected vaults are an emerging niche of DeFi structured products that attempt to provide risk-averse investors with yield that compares to more aggressive strategies elsewhere.

GMX’s success has resulted in competitors attempting to replicate it with designs inspired by GMX. Mycelium (previously TracerDAO) and MUX (previously MCDEX) are two protocols designed very similarly to GMX. Mycelium is a direct fork of the GMX codebase with some changes, while MUX is not a fork – it's using an adjusted codebase from a previous iteration of its product (MCDEX v3).

This month’s Monthly Chartbook focuses on the macro outlook, market structure & on-chain observations, L1s, L2s, & DeFi analysis, and an NFTs & gaming sector breakdown.

🌅 Welcome! Two crypto draft bills are front and center today. The US is trying to ban algorithmic stablecoins, while […]

When it comes to crypto options, Deribit reigns supreme. As is the case with all centralized crypto platforms, DeFi teams are trying to build competitors that remove the market’s reliance on centralized infrastructure. However, despite an abundance of progress and product market fit in other DeFi subsectors, options growth has been largely underwhelming to date.

Note: Some Dune Analytics queries used for Synthetix had bugs and time-limited data, the numbers may be slightly off. Introduction […]

Introduction Since early 2021, crypto derivatives have taken off at a wild pace. But the success of DeFi derivatives’ has […]

Table of Contents The Rise of Zeta Problems With On-Chain Options and Zeta’s Answer The Secret Sauce Demystifying Strategy Accounts […]

Chart of The Day: Opyn Squeeth Doubles In A Week as ETH Bounces Over the past week, ETH has gained […]