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🔑DeFi Devs Turn To Real-World Assets For Future Growth

The Defiant

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The rising rates available in traditional markets is attracting DeFi developers, with Umee, Maple Finance, Pendle, and Frax all making moves to embrace real-world assets. The announcements follow the success of MakerDAO's growing RWA adoption, which now drives 80% of project's revenue.

Coinbase announced a revenue-sharing agreement between its Layer 2, Base, and Optimism, the team behind the OP Stack technology underpinning Base. Optimism will receive a share of Base's revenue moving forward, with Base earning up to 2.75% of the OP token's supply in exchange for governance participation.

The complexity of liquidity providing on Uniswap v3 has given rise to protocols offering automated LP strategies in exchange for a fee. The Defiant spoke to Maverick, an emerging contender automating Uniswap v3 liquidity provision, to learn more about the sector.

And decentralized exchanges are facing an influx of Telegram trading bots, with Dune Analytics data indicating more than 7,000 bots are now active daily. However, said trading bots require access to a user's private keys, compromising their security in the process.

✍️ In today’s newsletter:

  • High real-world yields entice DeFi developers
  • Base to share revenue with Optimism for OP tokens
  • Exploring automated LP management for Uniswap v3
  • Telegram bots surge in popularity despite security risks

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DeFi

DeFi Sector Increasingly Sees Real-World Assets As Growth Area

TLDR The growing yields offered by real-world assets and traditional markets are attracting the interest of DeFi devs. Umee is making moves with bonds, while Pendle is introducing permissionless rate swaps, wihle Frax plans to embrace RWAs via a holding company.

SO WHAT With DeFi-native yields down after the inflationary tokenomics bubble popped alongside the last bull market, devs must adapt in order to evolve with changing market conditions. Moves to adopt RWAs shows the resilience of DeFi, with protocols seeking out more sustainable sources of yield to ensure longevity.

READ MORE: DeFi Sector Increasingly Sees Real-World Assets As Growth Area


Layer 2

Base Inks Profit Sharing Deal With Optimism

TLDR Base has inked a profit-sharing deal with Optimism in exchange for borrowing its OP Stack tech, with Base set to forward 15% of gross profits or 2.5% of transaction sequencing revenue to Optimism. In exchange, Base will have the opportunity to earn up to 2.75% of the OP token supply, enabling it to participate in Optimism governance.

SO WHAT The deal offers an early glimpse into Optimism's vision for a "Superchain" of interconnected blockchains leveraging its OP Stack. Base experienced eplosive growth following its launch, briefly emerging as the top L2 by transaction throughput.

READ MORE: Uniswap Spot Volume Surpassed Coinbase In 2023


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DeFi

DeFi LPs Turn To Liquidity Managers To Tackle Uniswap V3 Complexity

TLDR The complexity of liquidity provisioning on Uniswap v3 has given rise to an industry of protocols offering automated strategies to retail investors. Examples include the upstart Maverick protocol, Gamma, and sector leader, Arrakis.

SO WHAT Past analysis has indicated that LPing on Uniswap v3 is a sophisticated activity dominated by specialized entities. Protocols offering automated LP strategies for Uniswap v3 make the strategy available to wider a user base and reduces the barriers to entry.

READ MORE: DeFi LPs Turn To Liquidity Managers To Tackle Uniswap V3 Complexity


Markets

DEX Traders Turn To Telegram Bots To Gain An Edge

TLDR Telegram trading bots are blowing up in popularity, with more than 7,000 bots active daily last week. Bot developers are targeting both veteran traders and newbies alike, promising attainable returns without requiring extensive trading experience.

SO WHAT However, the emerging popularity of Telegram bots is an alarming trend from an operational security standpoint, with the bots requiring users expose their private keys.

READ MORE: DEX Traders Turn To Telegram Bots To Gain An Edge


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🌍 ELSEWHERE

  • U.S. Court Paves Way For Grayscale’s Bitcoin ETF—Sending Crypto Prices Surging ( Forbes)
  • Crypto Giant Binance Considers Russia Exit ( Wall Street Journal)
  • DCG Reaches Crucial In-Principle Deal With Genesis Creditors, Recoveries Could Be Up to 90% ( CoinDesk)