Decentralized Finance Industry Trends and Data Analysis

1. Important Developments in the DeFi Industry

1. Uniswap launches new Layer 2 network Unichain

Uniswap Labs announced the launch of a new Layer 2 network Unichain based on Optimism technology. Unichain is expected to launch its testnet on October 10, with the mainnet set to be released by the end of the year. Unichain introduces a trusted execution environment (TEE) technology developed in collaboration with Flashbots, which can reduce block building time to 200-250 milliseconds, far exceeding the speed of Ethereum and other Layer 2 networks.

2. Scroll is listed on a trading platform

Scroll is an Ethereum Layer 2 zkRollup solution that uses zero-knowledge proof technology to enhance Ethereum's scalability. The core technological breakthrough of Scroll lies in zkEVM and hardware acceleration. The main functions of the Scroll token SCR include governance and future use as a validator token. The total supply of SCR is 1 billion, with an initial circulating supply of 190 million at the time of listing (19%).

3. Native USDC launches on Sui

Native USDC has been launched on the Sui mainnet, allowing developers and users to access it directly without going through a cross-chain bridge. Circle Mint and Circle API now fully support USDC on Sui. Sui is the first blockchain based on the Move programming language to support native USDC. As of October 2024, the Sui ecosystem includes over 85 applications.

4. The U.S. government's handling of Silk Road Bitcoin

Recently, there have been rumors that the U.S. Supreme Court has approved the sale of 69,370 seized Silk Road Bitcoins, leading to a drop in Bitcoin prices. In fact, the Supreme Court only dismissed lawsuits regarding the ownership of these Bitcoins, confirming that they still belong to the U.S. government, and did not approve their sale. Considering the upcoming U.S. elections, there is still a possibility that the government may sell these Bitcoins before the elections, but there is no need to panic at this time.

5. Overview of Sui Ecosystem Decentralized Finance Projects

The Sui ecosystem is currently focused mainly on Decentralized Finance and Meme-related projects. The main DeFi projects include:

Lending Protocol: Navi Protocol, Suilend Protocol, Scallop Protocol Decentralized Exchange: Cetus Protocol, Turbos Finance, DeepBook Other DeFi projects: Bucket Protocol, Bluefin, Typus Finance

6. Pyth collaborates with Uniswap to provide data support for Unichain

Uniswap announced that its newly developed blockchain Unichain will choose Pyth Network as its real-time data service provider. Pyth will provide Unichain with over 500 real-time price data sources, updated every 400 milliseconds.

7. Aptos sets a new record for L1 blockchain transaction volume

According to the Messari report, Aptos set multiple new records in the second quarter of 2024: daily transaction volume increased by 474% to 4.4 million transactions, the total value locked in DeFi grew by 123% quarter-on-quarter to 75 million APT, and daily trading volume on DEX increased by 189% to 30 million USD.

8. A trading platform invests in ZKsync "Elastic Chain" Sophon

Sophon is an elastic chain based on ZKsync, built using Matter Labs' modular open-source framework for a Layer 2 network. Sophon focuses on entertainment applications such as gaming, social networking, and artificial intelligence, utilizing ZK Stack technology to achieve gas-free native account abstraction. The mainnet is expected to launch next month.

2. Decentralized Finance Data Analysis

1. TVL Data

Sui blockchain recently ranked in the top ten for TVL, demonstrating its strong growth in the Decentralized Finance sector.

2. Stablecoin Data

The total market capitalization of the global stablecoin market reached $172.818 billion, with a slight decrease of 0.19% over the past week. USDT's market share is 69.26%, while USDC accounts for 20.1%.

3. DEX Data

The DEX trading volume has slightly declined. Uniswap's 24-hour trading volume is $1.542 billion, with a weekly decrease of 1.81%. PancakeSwap's 24-hour trading volume is $1.044 billion, with a weekly decrease of 23.92%. Cetus has grown by 64.20%, with a 24-hour trading volume of $161 million.

3. Analysis of Unichain's Impact on the Decentralized Finance Market

After Uniswap launched Unichain, the DeFi landscape underwent significant changes:

1. Unichain is expected to attract a large amount of Decentralized Finance liquidity again.
2. The superchain architecture can integrate multiple ecosystems, with TVL expected to reach the level of tens of billions of dollars.
3. More applications and teams may choose to deploy on Unichain.
4. The status of the UNI token may significantly rise, becoming an existence that surpasses public chain tokens.
5. The Liquid Staking/Restaking market of UNI will bring new opportunities.
6. The DeFi protocol that takes the lead in the layout of Unichain is expected to gain a first-mover advantage.