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New Trends in the ETH Ecosystem: Deep Cooperation Among DeFi Giants and Innovations in Validator Services
Latest Developments in ETH Upgrades and the DeFi Ecosystem
Recently, a series of important events have occurred within the Ethereum ecosystem that are worth our in-depth discussion.
Firstly, the price of ETH has seen a significant increase over the past half month. This may be somewhat related to the Pectra upgrade, but it is not the dominant factor. More so, it is due to the correction of previously excessive pessimism and the impact of expectations surrounding ETF staking approval. It is noteworthy that the ETH/BTC exchange rate was previously close to historical lows.
The giants in the DeFi space are engaging in deep cooperation. A well-known lending platform plans to launch new features that support users in collateralizing LP tokens from a certain DEX to borrow stablecoins. This plan requires obtaining partial funding support from the community of that DEX, and in return, it will share future lending interest income with them. This cooperation model demonstrates the synergy between DeFi projects and is expected to bring more innovations.
On the other hand, a certain lending platform is deepening its integration with other DeFi projects. For example, it is incorporating a certain project's PT token into its system and increasing the supply limit of relevant assets. This multi-party collaboration not only enhances the efficiency of capital utilization but also brings benefits to all participating parties, marking that leading DeFi projects are entering a more mature and stable development stage.
In terms of liquidity mining, a certain cross-chain DEX project recently adjusted its incentive strategy. Due to having exceeded its established goals, the project has lowered the yield rates of some pools. Nevertheless, the total locked amount has not significantly decreased, indicating that the current yield level remains within the market's acceptable range. Notably, over the next week, rewards for a specific asset pool will gradually be transferred to its cross-chain version.
In the field of validator services, a well-known project announced the launch of its 2.0 testnet, introducing the new concept of "bApps." These applications directly utilize Ethereum validators to ensure security, rather than relying on additional capital. Unlike traditional Restaking, this solution provides extra yield for validators while protecting the stability of the Ethereum mainnet.
The stablecoin sector is also continuously innovating. A stablecoin that supports multi-chain interoperability is rapidly expanding and has covered multiple mainstream blockchain networks. Compared to some competitors, this solution has its own characteristics in terms of decentralization and ecological support.
In addition, several established DeFi projects are preparing to restart or upgrade. For example, a lending protocol is set to relaunch after fixing security vulnerabilities; another project that was highly regarded during the DeFi 2.0 era has also hinted at launching a new version.
Finally, there have been frequent activities in the field of Real World Asset (RWA) tokenization. Several well-known institutions are advancing innovative businesses such as tokenized funds and stablecoin financial accounts. Notably, several major financial and blockchain companies have collaborated to achieve cross-chain settlement of tokenized U.S. Treasury bonds, which may signal that the application of RWA in Decentralized Finance (DeFi) is about to experience rapid development.