- According to Coingecko, sushi is out of the top 10 decentralized exchanges by volume.
- The total value of locked Aave peaked at nearly $ 20 billion in October 2021.
With the DeFi project losing its brilliance and trading volumes declining, two new good protocols are once again trying to catch the eye of big-money investors.
A new product from Sushi’s DAO team has released a beta version on the Polygon Proof of Stake blockchain. This project, called Trident, is a new Lego set for DeFi spaces and is being billed as a “production framework for building and deploying AMMs”.
Aave V3, on the other hand, is released in six different chains, enabling cross-chain transactions among many new features.
The two protocols of the reputed DeFi (Decentralized Finance) project, which began with the 2020 DeFi Summer, total about 16 billion despite the lack of DAO (Decentralized Autonomous Organization) governance tokens. The value of the dollar is locked.
According to Coingecko, SUSHI is down about 88% from its March 2021 peak of $ 23.05, and AAVE is down 76% from its May 2021 peak of $ 631.26.
Product launches could indicate a shift to industry advocates, as hype about so-called DeFi 2.0 emerging projects such as Olympus DAO and Wonderland has faded in recent months.
Refreshing sushi
The community of developers and supporters of Sushi has experienced a rough patch since last year’s management turmoil, when Sushi co-founder resigned in September and Chief Technology Officer resigned in December.
That inevitably led to a delay in progress towards Trident, but the DAO team announced a beta rollout on the group’s blog on Wednesday.
This system is ” [automated market-maker] Everyone will need it, “according to the blog. Unlike previous versions, Trident allows anyone to create a liquidity pool, similar to Uniswap. Unlike Uniswap, pools can have token imbalances rather than 50:50 splits. This is the function of another rival decentralized exchange, the balancer.
The full feature set will be available after the security audit is complete, and Trident will eventually be pushed to other chains such as Ethereum’s mainnet.
Aave will also add Ethereum compatible chains
Aave announcement This week’s 3rd generation app. In addition to deploying on Polygon, Aave’s DAO community has approved Ethereum Layer 2 arbitram, optimism, and other Layer 1 networks (Fantom, Avalanche, Harmony) compatible with Ethereum virtual machines. Deployment of Ethereum to the mainnet is still underway.
According to the announcement, some of V3’s goals are “improved capital efficiency, improved security, and cross-chain capabilities.”
“This is a major milestone for one of DeFi’s most popular liquidity protocols and facilitates our mission to bring DeFi to the next hundreds of millions,” said Polygon co-founder. One Sandeep Nailwal said in a statement.
Outstanding is the “portal” feature. This allows DAO-approved bridging protocols to facilitate cross-chain transactions, allowing DeFi users to easily flow assets within Aave across different blockchains without having to withdraw, bridge and re-deposit assets in individual transactions. I can.
The app’s “high efficiency mode” allows borrowers to gain greater purchasing power when using similar assets such as stablecoin as collateral.
“Isolated mode” addresses one of the causes behind many high-value exploits. recently, Loss of $ 11 million At Agave, the Gnosis Ethereum sidechain Aave fork — is associated with a list of new collateral assets that proved unsafe. V3 limits risk by eliminating certain categories of assets.
In terms of security, Aave’s V3 code has been audited and validated by Certora by multiple companies such as Sigma Prime, Trail of Bits, Open Zeppelin, ABDK and PeckShield.
Its open source code is released under a business license similar to Uniswap V3.
Like the major V2s, Aave V3 integrates with popular DeFi apps and dashboards such as 1Inch, Debank, DeFisaver, Instadapp, Paraswap, Zapper and Zerion.
“I’m very excited about what this means for the future of the Aave protocol and the Aave community as a whole, both in terms of its scalability and flexibility as space continues to evolve,” said Nicolò Stewen, Director of Aave Strategy. Said..
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McCaulejye Peterson
