Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of Mars Finance
Disclaimer: This article aims to convey more market information and does not constitute any investment advice. The article only represents the author's viewpoint and does not represent the official stance of Mars Finance.
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Source: Mars Finance
Article | Liang Yushan
Mars Finance APP (WeChat: hxcj24h) reported on August 26thCryptocurrency market participants are rapidly entering the "DeFi ization" phase. On the exchange track, OKEx, Coin An, HuoCoin, Coco Finance, and others are all doing their best to increase their layout, attempting to take advantage of the new market boom by using methods such as coin listing, investment, and fund establishment to ride the DeFi Express.
After understanding the layout of the three exchanges mentioned above, Mars Finance found that apart from the basic entry method - listing DeFi tokens, what sets Coin An apart from other platforms is that it attempts to "DeFi" multiple of its products, including platform coins, stable coins, and smart chains.
According to official announcements, in terms of platform currency, Coin An has extended the BNB application scenario to DeFi - this token has become the first collateral to join the KavaDeFi lending platform; In terms of stabilizing currency, Coin An injected $2 million into the Uniswap liquidity pool to promote BUSD's entry into DeFi; In terms of smart chain, Coin An will launch the main network of the chain in early September, and may connect to multiple DeFi projects in the future.
On this basis, Coin An Incubator has also invested $2.8 million in DEX Aggregator 1 inch with institutions such as Galaxy Digital, DragonflyCapital, and IOSG to expand the ecosystem through external investment.
In terms of HuoCoin and OKEx, they respectively entered the DeFi market by establishing DeFi funds and integrating Dai deposit rates. On August 3rd, HuoCoin Group announced the establishment of DeFi Fund and invested tens of millions of dollars as the initial investment fund, which will focus on investment and incubation of DeFi projects.
OKEx chooses to connect to the DeFi market through its mining pool business. It is reported that OKEx mining pool is integrated with Dai, becoming the first trading platform to integrate Dai's deposit interest rate. In addition, Coco Finance has reached a cooperation with Consensus Lab to become the platform for the first release of the institution's first DeFi financial breakeven product.
It should also be noted that Coinbase, as the mainstream cryptocurrency trading platform in the United States, is also involved in the DeFi track. According to previous reports from Mars Finance, since the beginning of the year, the platform has included multiple DeFi projects such as Ampleforth, BandProtocol, Balancer, Curve, and Kava on the inspection list (currently, 8 DeFi tokens such as INK, MKR, ZRX, and COMP have been launched). Under the influence of the "Coinbase effect", most of the aforementioned tokens recorded significant increases after the official news was released.
In addition, the exchange has also invested in loan agreements Compound and dYdX, and Compound is the main driving force behind this round of DeFi boom. Its liquidity mining mechanism quickly ignited market investment enthusiasm after its launch in mid June.
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