It's unbelievable how quiet this space has become.
Just a handful of people with high hopes that everything will come back to where it once was, believing in the tech and the vision, perhaps unaware that we might never return to those good times.
Some of them are shouting, some of them are whispering, but regardless of the noise or silence, there are a few others: The Builders.
They usually do a lot and say too little, are not vocal, are not really up to date with what happens in the community, just focused on crafting a good product, one that maybe one day will be used by the entire world. Despite not showing weakness and disbelief, I'm sure that many of them push daily, asking themselves if all this will really be worth it.
This space really moves along quite well, with a lot of good progress being made on a daily basis and the ecosystem will soon become a hub for savvy investors and DeFi lovers. This is possible due to a common vision of a handful of founders, a vision for the new and unknown, a vision of uncertainty, but also a vision of changing the old, slow, and rusty financial system with a new, open, and transparent one.
#MultiversX is advancing, both on the technical side and with the activity inside its ecosystem, with quite a few impressive features and modules soon available for its users.
What is It All About?
I'm going to cover each of the essential developments that will soon be released, highlighting the opportunity that everyone might embrace soon.
1. @DX25Labs
This powerful new DEX has just announced its launch on the 17th of October, a strategic date chosen to align with other collaborators in this space, ensuring that multiple pieces will be ready to bootstrap a period of abundant liquidity in the ecosystem.
DX-25 will be the first home for all the tokens launched through the @EntityFinance launchpad. Now, with the new @HatomProtocol partnership, I do believe that all the tokens could also be paired with $USH (the native stablecoin that will be launched by @HatomProtocol; I will cover this in a bit).
This could be a huge development for both projects, considering the efficiency that DX-25 will offer. It introduces the novel concept of concentrated liquidity, where users will be able to adjust the range for providing liquidity and select their own fees to increase capital efficiency. Of course, this sounds incredible, but there are aspects that you must understand before delving into it, as it can be more dangerous than traditional LPing. Thankfully, the platform will also offer a management tool to help you with this!
One thing is certain: the protocol will be deployed soon and will be one of the most powerful DEXes in the ecosystem, if not the most powerful.
2. @HatomProtocol@HatomProtocol undoubtedly had a very successful launch and is maintaining a strong TVL of almost $100m, despite the harsh market conditions and the depreciation that $EGLD experienced in recent weeks.
They are relentless builders, and this was only the first step. Demonstrating a deep understanding of how to successfully bootstrap a launch, it's now time to focus on another masterpiece of the ecosystem: the first native stablecoin in #MultiversX, $USH.
$USH aims to address the issue of stablecoin liquidity in the ecosystem and stands a good chance of attracting a significant amount of liquidity. It will be minted through three different sources and promises to offer quite lucrative APYs, even at higher TVLs.
Now, consider the opportunities that will be available on-chain with the @HatomProtocol booster feature, which will amplify your earning potential for supplied positions while utilizing the same assets to mint $USH and deploy it in different strategies.
The partnership with @DX25Labs will undoubtedly foster greater adoption, setting it on course to become one of the most liquid and secure stablecoins on #MultiversX. Moreover, no bridges are involved โ everything takes place natively within the platform.
3. @autoscale_
I'm a big believer in the future of @autoscale_, and I appreciate their approach of having everything in place before launching a product.
@autoscale_ is a yield aggregator for those who are not aware of the project. Its primary role is to... well, identify the best strategies to amplify returns for its users.
I believe a feature that will set the protocol apart is its ability to create diverse strategies (vaults) that will be accessible to users at the click of a button.
Not everyone is proficient in the DeFi space, and I strongly believe that encouraging more users to venture into this niche requires a unique approach to simplifying the complexity of certain strategies.
Additionally, they plan to utilize various governance tokens at the protocol level to enhance yields for users, primarily involving @ash_swap and, I presume, @HatomProtocol with the new booster feature. Consequently, I anticipate witnessing some lucrative strategies upon their launch.
While they may seem quiet, I can assure you that they are diligently working behind the scenes, preparing all necessary legalities to ensure full compliance, which is commendable.
4. @ash_swap
I remember that during the last discussion with the DeFi builders, @neildotvn mentioned that @ash_swap is gearing up for a rebrand, and it seems that this is unfolding in real time.
The protocol has achieved some impressive milestones, with over $40m swapped on their platform - no small feat considering the size of the ecosystem.
Through their aggregator, @ash_swap is gradually earning the reputation as the 1Inch of #MultiversX, and is also being acknowledged as the Curve of this ecosystem.
It boasts some unique features and operates as an incredible DEX, functioning entirely at the governance level. Projects can utilize it to bootstrap liquidity if they do not have a token or wish to avoid creating additional pressure on it.
Given that the ecosystem is relatively quiet at the moment, with not many developments occurring, we are witnessing limited activity within the governance aspect of the protocol, with only one project presenting a different proposal. However, I am confident that in time, a shift will occur and a greater number of projects will engage in the governance discussions.
Additionally, they offer their own concentrated liquidity pools, featuring a dynamic peg that adjusts your position. However, I am keen to see a different approach in the future, as people generally prefer having more control, perhaps something along the lines of what @DX25Labs offers.
It will be fascinating to observe their rebranding process and the new direction the DEX will undertake.
Quite a long post already so will finish it here, overall a lot of things are happening behind the curtains; a lot of sweat and efforts are being done now for the hope of a thriving ecosystem in the upcoming months!
1/ Humanity *needs* (a) a high bandwidth, low latency financial system, (b) that is decentralized, and (c) accessible to anyone, anywhere.
This is a high impact, multi trillion dollar opportunity, able to dramatically improve ppls's lives across the world.
Thread for @elonmusk