Editor's Note: This article comes fromBlue Fox Notes (ID: lanhubiji), reprinted by Odaily with authorization.
Blue Fox Notes (ID: lanhubiji)
Blue Fox Notes (ID: lanhubiji)
, reprinted by Odaily with authorization.
Since Compound launched "liquidity mining" on June 15 this year, mining has become an important mechanism for the cold start of DeFi projects and token distribution. Because it has proved from practice that liquidity mining can quickly expand the business scale in a short period of time. However, in the field of lending, liquidity mining is a bit far-fetched, because part of its demand is not because of real borrowing needs, but because it can benefit from mining.
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Launch of DEX Liquidity Mining
In the liquidity mining frenzy of DeFi, Uniswap has been quiet and has no intention of issuing coins for a long time, which allows other DEXs to find opportunities.
YFI pushes liquidity mining to the extreme, because it has no shares of founders or investors, and distributes tokens completely through the mining model, and uses tokens as a tool for community governance. This brings DeFi mining into a whole new stage. Followed by YAM's fork of AMPL and the adoption of YFI's mining distribution mechanism. This has inspired the entire DeFi space.
Among them, the most notable one is the birth of SushiSwap. Because it is a fork of Uniswap that has not yet issued coins, and adopts a token distribution mechanism similar to YFI. At the same time, it cleverly designed incentives for Uniswap's liquidity pool, that is, it not only wants to fork the Uniswap code and mechanism, but also tries to leverage the liquidity on which it depends.
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Uniswap has been reluctant to issue coins for a long time, but the situation has reached a stage where it has to fight back. If it does not issue coins, the whole pattern will change.
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It will not be another Swap that can challenge Uniswap
