Deriswap: The new masterpiece of the founder of YFI, the ultimate integration of capital efficiency

Original title: "Keyin Insight: YFI founder's new masterpiece, the ultimate integration of capital efficiency"

Original author: Muddy Water Public Relations

On November 23, Andre Cronje, founder of the famous DeFi project yearn.finance (YFI), announced that he will launch a new Deriswap, a DeFi protocol. Deriswap combines transactions, options, and lending into a single contract with capital efficiency, allowing the interaction between the two types of assets.

Andre Cronje says he is becoming more and more fascinated with capital efficiency. The current DeFi liquidity is divided. In the case of subdivision, users can only choose one of them at a time. There is no direct correlation between various applications, which reduces the utilization rate of funds.

The liquidity distribution is as follows:

Swap: Uniswap, Sushiswap, Bancor, etc.;

p>

Options: Deribit, Hegic, Opyn, Primitive, etc.;

Loans: Aave, Compound, DyDx, etc.

The biggest feature of Deriswap is that it integrates the current popular DeFi gameplay, integrates various functions, and tries to create a "one-stop DEX"; it can effectively improve capital utilization and allow for more interaction between assets. Andre Cronje explained in the statement: “Deriswap provides an integrated, capital-efficient market for Swap transactions, options, futures and loans, allowing LPs to maintain exposure and enjoy additional fees and incentives”.

Taking ETH/BTC as an example, the Uniswap protocol can be used in the transaction, and then the time-weighted average price (TWAP) provided by the Uniswap price oracle After that, options can be quoted using the Black Scholes option pricing model, while futures are the extension and simplification of options, and the lending market is an extension and simplification of the futures market. These markets can be traded through non-homogeneous tokens (NFT). Tokenize, create or participate in secondary market transactions.

Members of the crypto community seem to be taking this blockbuster news very seriously, eagerly anticipating Andre Cronje's latest project and its progress. After Andre Cronje announced the upcoming launch of the Deriswap project, his Twitter had more than 200 forwards and more than 1,000 likes, and a large proportion of the messages were concerned about whether the project would issue tokens. In addition, a Substack contributor commented, “Deriswap will change the DeFi game, given that users are currently forced to choose between independent services (Uniswap, Opyn, Aave, etc.).”

Deriswap is currently being audited, and the remaining details, including the specific launch date, have not been announced. Andre Cronje has not announced any information about Deriswap tokens. It is unclear whether a new token will be launched for the project. But it is worth noting that, according to comments on Twitter, a number of fake token addresses have appeared on the Internet, and at the same time, a fake currency named DSWAP has appeared on Uniswap, with 60 holders, one of which is a fund pool Scammed out of $53,000 in less than 30 minutes.

Andre Cronje is known in crypto circles as a prolific developer with a touch of magic. Its first project lending yield optimization protocol, YFI, was launched earlier in July this year, and it has gained huge traction since its launch. Governance token YFI reached an all-time high of $43,000 at one point, surpassing Bitcoin's all-time high of nearly $20,000, according to data from Coin Gecko, and has since become the most expensive cryptocurrency on the market. The current price of YFI is 24,315$. Since the success of YFI, Andre Cronje has become a prominent participant in the DeFi ecosystem and has been continuously exploring more possibilities of DeFi. While Andre Cronje’s Eminence protocol wasn’t a success, Andre Cronje’s last project, Keep3r, had a different story, with the price of Keep3r’s KP3R token rising from $10 to over $200 in a few days, an increase of more than 2000%.

As a leader on the cusp of the blockchain industry, Andre Cronje, with his own traffic, will attract many fans and speculators with every move . The unexpected price rise of YFI and Keep3r further strengthened Andre Cronje's property of wealth effect. The new project Deriswap announced by Andre Cronje is very popular and is expected to attract a large number of users and funds to participate. However, due to the complexity of the product functions, it has not yet been fully tested, and the project-related information has been disclosed less. Whether Deriswap can become the next phenomenon-level product similar to YFI remains to be seen.

Original link

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia