The decentralized finance (DeFi) space is witnessing significant changes. Stablecoins are beginning to dominate, generating significant income while derivatives protocols are quickly gaining popularity.
Stablecoins as New Income Sources
Stablecoins such as Tether and Circle are becoming not just tools for transactions but also sources of significant income. Recent data confirmed that Tether earned $620 million in the last 30 days, while Circle brought in around $200 million solely from revenues generated by U.S. Treasury bonds. These issuers actively utilize their funds to achieve yield (APY) from investments in safe assets.
Growth of Derivatives Protocols
Derivatives protocols like Jupiter and Hyperliquid are showing a sharp increase in trading volumes and fees. Instead of relying on standard DEXs, users are now leaning towards leveraged trading. In July, both protocols set records for fees, earning $99 million and $97 million, respectively. This indicates a change in trader preferences towards more complex instruments.
Declining Interest in Liquid Staking
The previously popular network project Lido is losing ground amid falling Ethereum staking yields. Over the last month, Lido's income amounted to $75.6 million, significantly lower compared to the previous year. The shift of traders to new platforms offering higher yields suggests users are searching for more advantageous investment conditions.
The shift in DeFi towards stablecoins and derivatives marks the beginning of a new era in decentralized finance. As a result, users should pay close attention to changes related to fees and yields to stay ahead in this field.
