Artículos Relacionados con DeFi

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IOSG | EIP-8363 Quantitative Review: Slashing Staking 'Subsidies'—What Does Ethereum Want in Return?

**Title: IOSG | EIP-8363 Quantitative Review: Cutting Staking "Subsidies"—What Does Ethereum Aim to Gain?** **Summary:** EIP-8363 proposes a mechanism to progressively destroy a larger portion of validator rewards as the staking ratio increases, reaching 100% destruction when 50% of ETH supply is staked. This analysis models its impact on issuance, yield, and staking equilibrium, investigates whether ETH's yield truly explains its price, quantifies the on-chain economy's dependence on this yield, and presents conclusions. Key findings: 1. EIP-1559's fee-burn mechanism has become largely ineffective, with burn rates down 98% since 2022. Issuance policy is now Ethereum's primary remaining lever over ETH supply. 2. At the current staking level (~35% of supply), EIP-8363 would cut issuance by ~58.6% and staking APR by ~56.4%, not eliminate it entirely. The mechanism is self-limiting; under reasonable yield thresholds, the system would stabilize at 26–34% staking with 0.3–0.5% annual issuance. 3. No statistically significant correlation exists between historical staking yield changes and ETH price movements. The natural 37% yield decline since 2023 showed no detectable price impact. 4. The on-chain economy's direct dependence on this yield is limited. Liquid staking tokens (LSTs) like wstETH are crucial as collateral (e.g., 34.2% in major lending markets), but their utility persists as long as yield is positive. Staking-focused ETFs represent a tiny fraction (0.19% of supply) of current demand. 5. The debate is essentially a zero-sum wealth redistribution: cutting ~$1.55B in annual issuance transfers value from concentrated staker/intermediary interests (35% of holders) to the diffuse majority of non-staking holders (65%). The proposal is economically rational but faces high political hurdles due to this concentrated opposition. Verdict: The proposal is mildly bullish for ETH (reducing a structural sell-pressure) but bearish for staking intermediaries/protocols. However, its passage is unlikely due to governance dynamics favoring concentrated, organized opposition over diffuse benefits.

marsbitHace 1 hora(s)

IOSG | EIP-8363 Quantitative Review: Slashing Staking 'Subsidies'—What Does Ethereum Want in Return?

marsbitHace 1 hora(s)

Coinbase Uses Chainlink to Deeper Integrate Tokenized Stocks into DeFi

Coinbase has selected Chainlink to provide pricing infrastructure for its tokenized stocks, enabling blockchain-based versions of stocks like Apple and NVIDIA to be used freely on decentralized lending and trading markets. This is particularly significant for non-U.S. cryptocurrency users, allowing them to utilize tokenized U.S. equities similarly to how DeFi currently uses stablecoins and tokenized Treasuries. The integration aims to move these tokens beyond mere storage—making them viable as collateral, liquidity, and building blocks within DeFi protocols. For tokenized stocks to hold value or function in DeFi, protocols require reliable price determination. Chainlink’s oracles will supply this critical data, addressing a key gap—especially in lending markets where accurate collateral valuation and liquidation mechanisms depend on trusted price feeds. The stocks, which trade on Coinbase’s Ethereum Layer-2 network Base using the B20 token standard, are structured to mirror real-world equities, with bankruptcy-remote protections. Holders can own fractional shares, trade them on platforms like Aerodrome, and use positions (e.g., in NVIDIA) as loan collateral on Aave. Legally, the initiative operates outside the U.S., with Coinbase securing regulatory approval from Abu Dhabi’s FSRA to run its global tokenization hub. Token holders receive dividends and voting rights, though access remains limited to eligible non-U.S. users, and transfers are subject to sanctions screening and wallet-level freezes. The tokenized equity market has grown rapidly, with its market cap soaring from $329 million in June 2025 to around $1.7 billion by June 2026, and monthly on-chain transfer volume exploding from $53 million to $9.22 billion over the same period. Despite an overall decline in DeFi deposits, risk-weighted deposits for tokenized real-world assets on DeFi lending platforms tripled from $2.3 billion in Q2 2025 to $7.4 billion in Q2 2026. While Coinbase faces competition from players like Nasdaq (partnering with Kraken’s parent) and Robinhood Chain (a current leader in tokenized stock holders), the key challenge is driving active use—transforming tokenized shares from static digital representations into productive components of the blockchain financial ecosystem. As noted by industry observers, the goal is for these assets to “do something on the blockchain,” with Chainlink’s reliable data enabling that crucial DeFi interoperability.

cryptonews.ruHace 4 hora(s)

Coinbase Uses Chainlink to Deeper Integrate Tokenized Stocks into DeFi

cryptonews.ruHace 4 hora(s)

DeFi Sector Bounces Back Strongest: Which High-Revenue Projects Offer Entry Opportunities?

DeFi Sector Leads Recovery: Which High-Revenue Projects Are Worth Watching? DeFi has been one of the most active sectors during the recent market rebound. Beyond chasing price action, a key fundamental metric for evaluating DeFi protocols is sustainable revenue, which indicates real user demand. This analysis highlights high-revenue projects across key categories, using protocol fee data (net of supplier payouts). **DEX** * **Uniswap (UNI)**: Leads with $7.18M in 30-day revenue. Protocol fees from v2 and select v3 pools are used for UNI token burns. * **Solana DEXs**: Jupiter (JUP, $4.69M 30-day revenue) uses 50% of revenue for JUP buybacks. Meteora (MET, $1.67M) and Raydium (RAY, $1.13M) also allocate portions of fees to token buybacks. * **PancakeSwap (CAKE)**: Earned $5.16M in 30 days, with part of its fees used for CAKE burns, maintaining a net deflationary supply. * **Aerodrome (AERO)**: On Base, it generated $4.11M in 30 days. Revenue is directly distributed to veAERO holders rather than used for buybacks. **Lending** * **World Liberty Financial (WLFI)**: Top earner with $10.47M in 30-day revenue. A proposal passed to use 100% of fees from its Protocol-Owned Liquidity (POL) for WLFI buybacks, but holder net income remains zero. * **Aave (AAVE)**: Generated $4.12M in 30 days. Its buyback program was paused in April 2026 following the rsETH bridge attack. **ETH Staking** * **ether.fi (ETHFI)**: Earned $3.03M in 30 days. Revenue from eETH withdrawals is used for ETHFI buybacks, which are then distributed to sETHFI stakers. * **Lido (LDO)**: Generated $2.31M. Its new NEST mechanism automatically uses 50% of annual revenue exceeding $40M for LDO buybacks. In summary, several DeFi protocols are generating significant revenue, with many employing token buyback or direct distribution mechanisms. This revenue provides a fundamental basis for evaluation amid market volatility.

marsbitHace 7 hora(s)

DeFi Sector Bounces Back Strongest: Which High-Revenue Projects Offer Entry Opportunities?

marsbitHace 7 hora(s)

Hyperliquid is also getting a Layer2, what is Elysium?

Hyperliquid, a decentralized exchange, is set to launch its own Layer 2 solution called Elysium, developed by its largest liquid staking protocol, Kinetiq. This move aims to address key limitations in Hyperliquid's current ecosystem, particularly the performance and user experience issues on its existing HyperEVM. The article explains that HyperEVM has struggled with network congestion, high gas fees (sometimes exceeding $10-$20 per simple swap), and a fragmented infrastructure for launching and trading new tokens, especially memecoins. While there is significant speculative interest, the current setup lacks the efficient trading infrastructure to sustain it. Elysium is designed as a high-performance L2 that will use HYPE as its gas token. Its goals are to provide drastically faster block times and higher throughput compared to HyperEVM, create a seamless pipeline for token launches (from initial creation on Elysium to eventual listing as spot and perpetual markets on Hyperliquid's main chain, HyperCore), and offer developers richer access to HyperCore's order book data for better hedging and market-making. The L2 is positioned not as a competitor to HyperCore but as a "value-accrual" layer that aims to drive more activity and volume back to the main chain. Potential use cases extend beyond memecoins to include complex applications like PaperTrade (a novel perpetual DEX) and other DeFi protocols requiring fast settlement and real-time data. Elysium's sequencer revenue is planned to be shared with applications, the Kinetiq treasury, and used to buy back and burn the KNTQ token.

marsbitHace 7 hora(s)

Hyperliquid is also getting a Layer2, what is Elysium?

marsbitHace 7 hora(s)

DeFi Sector Rebounds Most Strongly, Which High-Revenue Projects Can Be a Good Opportunity to 'Get On Board'?

**Title: DeFi Sector Leads Market Rebound: High-Revenue Projects to Watch** The recent surge in Bitcoin and Ethereum has revitalized the altcoin market, with DeFi emerging as one of the most active sectors. Beyond chasing price rallies, a key fundamental metric for evaluating DeFi projects is their protocol revenue—the actual income retained after paying liquidity providers. This indicates genuine user demand and sustainable business models. **Top Revenue-Generating DeFi Projects:** * **DEX (Decentralized Exchanges):** * **Uniswap (UNI):** Leads with $7.18M in 30-day revenue. It accrues income from protocol fees, which are now active on multiple chains and used to buy back and burn UNI. * **Solana Ecosystem:** Jupiter ($4.69M), Meteora ($1.67M), and Raydium ($1.13M) are top performers, with substantial revenues driven by Solana's vibrant trading activity. Jupiter and Raydium use a portion of fees for token buybacks, while Meteora has also executed significant buybacks. * **PancakeSwap (CAKE):** Generated $5.16M recently, maintaining a strong position on BNB Chain and other networks. Its token CAKE continues a net deflationary trend through buybacks and burns. * **Aerodrome (AERO):** On Base chain, it earned $4.11M. Its revenue is directly distributed to veAERO holders instead of funding buybacks. * **Lending:** * **World Liberty Financial (WLFI):** Topped the lending sector with $10.47M in 30-day revenue. A proposal to use fees from its proprietary market making for WLFI buybacks passed, but token holders' net income remains zero currently. * **Aave (AAVE):** Earned $4.12M. It had an active buyback program until it was paused in April 2026 following a security incident. * **ETH Staking:** * **ether.fi (ETHFI):** Generated $3.03M. Revenue from eETH withdrawals is fully used to buy back ETHFI, which is then distributed to sETHFI stakers. * **Lido (LDO):** Earned $2.31M. Its recently activated NEST mechanism automatically uses 50% of annual revenue above $40M to buy back LDO. In summary, during the market rebound, several DeFi protocols across DEXs, lending, and staking are demonstrating strong revenue generation. Key models include direct fee collection, token buyback/burn programs, and revenue distribution to governance token stakers, providing fundamental strength amidst market volatility.

Odaily星球日报Hace 7 hora(s)

DeFi Sector Rebounds Most Strongly, Which High-Revenue Projects Can Be a Good Opportunity to 'Get On Board'?

Odaily星球日报Hace 7 hora(s)

The Eve of the Bull Market: Undervalued/Innovative Narratives Worth Watching

Author: Haotian With a bull market approaching and many unsure where to invest, which niche or innovative narratives that emerged during the bear market—though perhaps ahead of their time—are worth watching now? (Some are already gaining momentum.) **1) Hooks:** Uniswap V4 Hooks are externally customizable smart contracts that allow custom logic to be inserted at key points in an AMM pool's lifecycle, such as initialization, liquidity actions, swaps, donations, and fee handling. (Examples: uPEG, SATO, Slonks) **2) x402:** This initiative revives the long-reserved but rarely used HTTP 402 "Payment Required" status code, proposing it as a foundational layer for AI agent payments. (Examples: PAYAI, dreams) **3) RWAFI (Real-World Assets Finance):** Extending beyond mere asset tokenization, this narrative focuses on composable DeFi applications built on TradFi assets as underlying liquidity or integrating tokenized assets into DeFi protocols. (Examples: Stonkbroker, INDEX) **4) Agentic Economy:** Based on a Google-proposed open protocol, this framework enables AI agents built on different systems to discover, communicate, delegate tasks, and collaborate, serving as a communication layer for an economy of autonomous agents. It opens possibilities for agent-based social platforms, games, and human-task automation. (Example: Moltbook) Additionally, there is a broad range of innovative narratives around AI + Crypto, including infrastructure, applications, and protocols for AI agents. Established areas like Prediction Markets, Perpetual DEXs, and Privacy narratives remain highly active. (Note: Many projects mentioned above are inactive; this is for informational purposes only, not investment advice.) What other interesting narratives are out there? Feel free to share in the comments.

marsbitHace 8 hora(s)

The Eve of the Bull Market: Undervalued/Innovative Narratives Worth Watching

marsbitHace 8 hora(s)

RWA Deposits Triple as Traditional Finance Embraces Blockchain

The DeFi sector is undergoing a structural transformation, with tokenized real-world assets (RWA) taking center stage. According to a joint report from CoinShares and Token Terminal, deposits in RWA on decentralized lending and trading platforms surged to $7.4 billion in Q2 2026, a more than threefold increase from $2.3 billion a year earlier. This growth starkly contrasts with a 15% decline in overall DeFi deposits and a nearly 70% drop in DEX trading volume over the same period. Analysts see this as a fundamental shift driven by the real financial utility of blockchain for traditional capital, not speculation. Primary drivers include tokenized U.S. Treasury bonds and multi-strategy funds, with products like BlackRock's BUIDL being used as collateral to access liquidity while earning yields of 3.2% to 5.5%. Ethereum remains the dominant network, holding about 70% of all RWA collateral. Beyond bonds, tokenized equities and commodity derivatives are also gaining traction, with the tokenized stock market now valued at roughly $2.2 billion. Decentralized platforms like TradeXYZ have seen explosive growth in RWA-based perpetual futures for assets like oil and the S&P 500. Looking ahead, Standard Chartered projects the total market capitalization of tokenized assets could reach $4 trillion by the end of 2028. The RWA sector's growth demonstrates that tokenization has moved beyond crypto market cycles, offering tangible value, deep liquidity, and 24/7 access to global capital as traditional finance actively scales its blockchain integration.

cryptonews.ruHace 17 hora(s)

RWA Deposits Triple as Traditional Finance Embraces Blockchain

cryptonews.ruHace 17 hora(s)

Top 10 Most Profitable Crypto Assets of the Week

According to CoinMarketCap data as of August 23, 2026, the top ten weekly gainers among crypto assets showed increases ranging from over 40% to more than 100%. Ethena ($ENA) led with a 100.75% surge to $0.167, driven by ecosystem expansion, including a strategic partnership with Coinbase. Following were pump.fun ($PUMP), up 88.11%, and Stacks ($STX), up 82.76%. Official Trump ($TRUMP) gained 79.12%, despite facing regulatory scrutiny. Zcash (ZEC) rose 66.51% following a network upgrade. Other notable gainers included LayerZero (ZRO), Pepe (PEPE), XRP (+47.78%), Aave (+44.59%), and Lighter (LIT). The list features a mix of DeFi tokens, infrastructure projects, memecoins, and large-cap assets, with XRP and Aave being the largest by market capitalization in the group. The overall market uptrend began on August 19 when Bitcoin surpassed $79,000.

cryptonews.ruHace 17 hora(s)

Top 10 Most Profitable Crypto Assets of the Week

cryptonews.ruHace 17 hora(s)

EIP-8363 Quantitative Review: Cutting Staking 'Subsidies' – What Does Ethereum Hope to Gain?

**EIP-8363 Quantitative Review: Reducing Staking "Subsidies" – What Does Ethereum Want in Return?** EIP-8363 proposes burning an increasing portion of validator rewards as the staking rate rises, reaching 100% burn when 50% of ETH is staked. This analysis models its impact on issuance, yield, and staking equilibrium, examines whether ETH's yield explains its price, quantifies the chain economy's reliance on this yield, and presents conclusions. Key findings: 1. **EIP-1559 Burns Are Ineffective:** Post-merge, burning (via base fees) has collapsed by 98% and now offsets only 2.4% of new ETH issuance, making issuance policy Ethereum's sole remaining supply lever. 2. **EIP-8363's Real Impact:** At the current ~42.2M ETH staked, the proposal would cut issuance by ~58.6% and staking APR by ~56.4%, removing ~633k ETH ($1.55B) in annual dilution (0.53% of market cap). It's not zero issuance; that would require 43% more ETH staked. 3. **Self-Limiting Mechanism:** The design has a built-in equilibrium. At reasonable required returns (e.g., 2%), the system stabilizes at ~26% staking rate and ~0.48% annual inflation. 4. **Yield vs. Price:** No detectable statistical relationship exists between changes in staking yield and ETH price returns over 43 months. The natural 37% yield decline since 2023 did not drive price action. 5. **Chain Economy Dependence:** While LSTs like wstETH form ~34% of collateral in major lending markets, their utility as collateral remains if yield is positive. The direct revenue hit to protocols like Lido is significant (~50% of fee income) but not systemic. Staking-focused ETFs represent only 0.19% of ETH supply. 6. **Core Conflict:** The debate masks a zero-sum redistribution: cutting ~$1.55B in annual issuance transfers value from concentrated staking intermediaries (LST/LRT protocols, leverage players) to the dispersed majority of non-staking ETH holders. 7. **Outlook:** The proposal is economically sound for ETH's scarcity but politically difficult due to concentrated opposition. It is unlikely to pass in its current form.

marsbitHace 18 hora(s)

EIP-8363 Quantitative Review: Cutting Staking 'Subsidies' – What Does Ethereum Hope to Gain?

marsbitHace 18 hora(s)

Avalanche Tokenized Asset Value Crosses $3B As RWA Push Grows

Avalanche's tokenized real-world asset (RWA) value has surpassed $3 billion, marking a key milestone in its strategy to become institutional financial infrastructure. The aggregate value was significantly boosted by Progmat's $1.2 billion securities migration, with OpenTrade and Grove Finance contributing approximately $190 million and $260 million respectively. RWAs represent a major institutional use case for blockchain, involving assets like Treasuries and securities. For Avalanche, this growth strengthens its narrative as a platform for regulated asset issuance and settlement, aligning with its focus on subnets and custom deployments for institutional needs. While the $3 billion figure is substantial, it reflects total on-chain value, not new daily inflows or a direct catalyst for AVAX price. The milestone's long-term significance hinges on whether these tokenized assets drive active usage, trading, and settlement volume on the network.

bitcoinistHace 18 hora(s)

Avalanche Tokenized Asset Value Crosses $3B As RWA Push Grows

bitcoinistHace 18 hora(s)

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