DeFi is making a comeback this time bringing application scenarios

In 2020, DeFi and liquid mining have become the most attractive stories in the entire blockchain industry.

Whether it’s the miracle that YFI skyrocketed 10,000 times in 40 days, or the liquidity battle staged by Sushiswap, or the airdrop of $2,000 per capita by Uniswap, all attracted a large number of investors to participate. Conveyed one after another rich rich stories, making the DeFi circle almost crazy.

With thunderstorms running off the project and the exhaustion of liquid mining, DeFi has fallen into a situation where “digging and selling” has gradually become history.

However, recently, DeFi has made a comeback. They bring their own application scenarios, which are quite different from the original “digging, selling and lifting”.

Coin World-DeFi is coming back this time bringing application scenarios
Image Source: Jinse Finance

Cover of Insurance 

Cover is a relatively hot insurance platform recently. Cover has not been online for a long time. Its predecessor (SAFE) is an insurance-related mining platform. Due to the operation of its predecessor, it currently has a certain fan base. Cover has a close relationship with Year’s founder AC. On November 28, AC announced the merger of Year and Cover, which attracted widespread attention.

Coin World-DeFi is coming back this time bringing application scenarios

Image Source: Jinse Finance

DeFi insurance platform

There are three roles in Cover, namely insurance demander, insurance provider and market maker .

There are two tokens in Cover, CLAIM and NOCLAIM. Users can obtain these two tokens 1:1 through the minting system, and can only purchase one insurance with a fixed expiration time (there is no other time option) .

Recently, Cover announced its support for BadgerDAO and will provide insurance services for the latter. Users can purchase BADGERDAO_CLAIM tokens on Balancer. The expiration date is until February 28, 2021. Once a security breach occurs, buyers can use the tokens to claim yDai. BadgerDAO will allocate 125,000 BADGER tokens for shield mining. The mining activity will continue until February 28, 2021. This will allow users to purchase insurance with minimal slippage.

In addition, the decentralized asset bridge BoringDAO has reached a cooperation with the decentralized insurance platform COVER. BoringDAO & oBTC insurance policies and policy mining have been launched. Users can purchase Claim/noClaim insurance options on Balancer. This move will further strengthen Bitcoin The asset security of the anchor coin oBTC.

Base of algorithmic stable currency

Following the slogan “One day for DeFi, one year for the currency circle”, the community shouted “One day for Base, one year for DeFi”.

When talking about the originator of algorithmic stablecoins, everyone will think of AMPL, and the recently released Base is called “a wilder AMPL”. With the recent good uptrend of AMPL, the inflation and deflation mechanism of Rebase has slowly entered everyone’s field of vision. After the AMPL fire in July, many imitation projects were released, such as Based, X BTC, etc., but most of them were anonymous projects. One project that came out in the past two days is called Base Protocol, which is also a Rebase mechanism.

The basic protocol (BASE) is a token whose price is linked to the total market value of all cryptocurrencies. Base Protocol wants to create the world’s first tokenized crypto industry tracker, which will be linked to the total market value of all cryptocurrencies through Base, so that traders can speculate on the entire cryptocurrency industry through Base, and rely on Base as a vane transaction.

In addition to these, the NFT market is also on the rise.

Recently, BlackPool, a new hedge fund in the NFT (non-homogeneous token) market, has been officially launched. BlackPool will cover all fields from sports cards to game items to digital art. BlackPool stated that funding for Ethereum-based gaming startup Sorare has officially started. SorareData has collected about 350 football player cards, valued at approximately US$185,000 (310 ETH), including unique cards of Kylian Mbappé (currently the most expensive football player), the most collectible asset in Sorare.

Avalanche (Avalanche) issued a document today stating that it has joined the Blockchain Game Alliance (BGA). In addition to the Avalanche Agreement, game organizations Ubisoft, AMD, and blockchain organizations MakerDAO, Matic, and Galaxy Interactive have joined the organization. The organization aims to promote the development of blockchain games and NFT fields.

NFT lending platform NFTfi tweeted that a platform user borrowed 25,000 DAI, about 42.3 ETH, with the 20th Chuangshi cat among the 100 “Chuangshi cats” in the famous blockchain game CryptoKitties as collateral.

“Eighteen Paving Road” chief author Super Jun said, “The innovation in the field of Defi is very fast. In the fields of insurance and options, the new generation completely surpasses the old generation.

Weibo user “Bitcoin” analyzed: “The DeFi field has recently started the second wave of spring. This is the view of many people. Because DeFi has been popular from April to October this year, and the small currency has boiled, and now it is with cover ( The popularity of insurance), Base (algorithm flexible currency), API3 (DAO), etc. has once again risen. In fact, from the perspective of locked positions, DeFi has always been developing steadily. The cool period of time refers to shitcoins in the DeFi field. This is not the second spring, but the result of continuous development.”

Source: Golden Finance


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