Fantom Revenue Sharing, Defi Llama's DEX Aggregator and More NFTfi Launches.
Thena, Gains Network, CryptoLink.Tech, Archimedes Finance, Syrup Finance and more!
The Best Of Defi News
The passing of Fantom’s recent governance proposal rewards quality dApps by sharing transaction fee revenue.
Key Points:
Every transaction on the Fantom network requires FTM token to pay the transaction (gas) fee, this is the network’s revenue.
30% of this revenue used to be “burned” meaning taken out of existence forever. Given that the FTM token has a capped maximum supply, this burning is supposed to support the price of the FTM token through basic supply and demand.
This type of burning mechanism is common across crypto as one of the main benefit points over state-controlled fiat currencies with their harmful, endless inflationary printing.
Fantom’s recently passed Gas Monetization Proposal now directs 15% of network transaction fees back to decentralized applications across the network, based on their transaction volume.
This aims to incentivize activity on the network and quality projects driving real usage.
Because this revenue was otherwise being burned, it effectively costs the Fantom Foundation nothing to redirect it.
The risks include negative price effects on FTM and bad actor manipulation through bots and inefficient protocol usage. The Gas Monetization Proposal can be changed through future governance votes to ensure the ecosystem has the opportunity to adapt to its results.
The Defi Llamas launch their Decentralized Exchange Aggregator
This is built on top of existing DEXs and the Llama’s aggregation capabilities. It aims to offer the most user-friendly exchange experience through cost efficiency, privacy controls and individual approval controls.
More NFTfi
Thena launches on Binance Smart Chain
Thena aims to improve upon common locking tokenomic models by offering its locked governance token in NFT form.
These locked-token infused NFTs are tradable themselves, therefore creating a discounted liquid position of illiquid governance tokens.
THE, veTHE and theNFT explained on Thena’s docs.
New Defi Protocols And Updates From Top Projects
CryptoLink.Tech aims big in interoperability and launches its cross-chain DEX this month.
Archimedes Fi is bringing leveraged, stablecoin positions in the form of NFTs.
ARCH token is set to launch this quarter with interesting tokenomics to address overinflation and credit default risk.
Gains Network increases maximum collateral per trade to $20k and enables one-click trading in their mobile app.
Great news for GNS holders who enjoy well over 25% of trading fee revenues.
GMX Surpasses 200,000 users.
Pentoshi finds an interesting indicator with 100% hit rate.
Syrup Finance offers 50x leverage long or short on Binance Smart Chain.
Mate comes out of a great incubator, BuildSpace, to offer fractionalized protocol ownership.
Knox Finance merges with well-established Premia Finance to offer new strategy vaults on Arbitrum.
This partnership was developed in stealth mode.
Here’s a fun visual demonstrating Total Value Locked and Average Daily Transactions throughout 2022.
Disclaimer: Opinions here are my own. None of this is financial or investment advice. You should always do your own research, form your own opinions and make your own decisions.