Editor's Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Chatting with Xiaozha (ID: xiaonazha88)
Chatting with Xiaozha (ID: xiaonazha88)
, reprinted by Odaily with authorization.
The market is filled with the taste of a bull market.
The Federal Reserve prints U.S. banknotes, and the wild Fed prints stablecoins. The threshold for opening a wild Fed is very low, and Fork a Basis can be played. From modifying some rules of basis to transferring basis to other public chains, walk the path that Basis has traveled again.
All this looks so familiar, how similar it is to the crazy nesting dolls of DeFi in September, which will produce a bunch of fruits, a bunch of seafood, and now a batch of wild Feds.
In September’s DeFi crazy matryoshka, some people made a lot of money, and some people were cut off miserably. I believe this will continue to happen in the wave of algorithmic stablecoins. If you are not familiar with algorithmic stablecoins, don’t rush blindly. You are likely to be the one to take over. After all, algorithmic stablecoins are still in the zjp stage.
The madness of DeFi in September left behind many good DeFi products. After this wave of algorithm stability has passed, it will also leave some wild Feds to challenge the USDT and other stablecoin markets.
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1. The wild Fed is sprouting in various public chains, and the danger is also spreading
The wild Fed has gone through three stages: 1. AMPL mode; 2. ESD mode; 3. Basis mode.
At present, the Basis model is mainly imitated in the market, such as the MIS on the Ethereum, the BAG on the Huobi Smart Chain, etc., and the algorithmic stablecoin that will be launched on the wave field, all directly copy the Basis model, and there is no difference.
Basis, the originator of the third generation of algorithmic stablecoins, as of writing, the BAC-DAI fund pool is 156 million US dollars, which is the largest among all algorithmic stablecoins.
From the perspective of the new imitation disk mining funds, BasisGold on the Huobi HECO chain, as of writing, the amount of funds locked in the seed mining stage is 265 million US dollars.
Following the popularity of BasisGold, TRON is also preparing to launch a copy of the algorithmic stablecoin, as shown in the figure below. It's even more crazy. As of the time of writing, the related mining shovels have been several times crazy.
Of course, there are also many imitations of algorithmic stablecoins on the Binance Smart Chain, and the game will soon be over. There are also imitations of algorithmic stablecoins on the EOS chain, and they are still going on.
In other words, algorithmic stablecoins, born from the ETH ecosystem, have spread to Binance Smart Chain BSC, Huobi Smart Chain HECO, EOS, and Tron, and these public chains have all imitated them.
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2. Algorithmic stablecoins are high-risk, but DeFi is very fragrant
The last time this happened was in September 2020 when DeFi was crazy. Later, everyone knew that the DeFi market collapsed and blood flowed like a river. The crazier the market, the more we must pay attention to safety.
