It’s different for DeFi stablecoins, as it should be, as protocols try to carve out their own niches and look for competitive advantages. Even in the post-Terra world, DeFi continues to experiment with new constructs. Many of the first generation of stablecoin protocols, such as FRAX, were exploring ways to improve capital efficiency. But the latest batch is focused on passing through yield to users – in effect, importing “TradFi” returns into DeFi, mostly through U.S. Treasury yields (Frax, Ondo Finance, and Mountain Protocol for instance).
Bitcoin Has Best Day in 2 Months as Markets Anticipate a ‘Summer of Easing'
The net percent of global central banks cutting rates is increasing in a positive sign for risk assets, including cryptocurrencies....