DeFi Market Update: Looking at Uniswap, Aave and Maker
|- Uniswap has surpassed Maker in terms of total value locked in smart contracts.
- Aave partners with RealT to bring in tokenized mortgages into DeFi.
Uniswap overtakes Maker
Uniswap decentralized exchange (DEX) has recently gained over 600% in liquidity and total volume. The platform has surpassed two competitors - Coinbase Pro and Maker in different metrics, according to CoinGecko.
Uniswap has topped Coinbase Pro in terms of daily volume. While Coinbase Pro’s 24-hour volume sits at $797.5 million, Uniswap has $1.028 billion in volume in the same period. Binance is still at the top of the list with a 24-hour volume of $6.8 billion.
Uniswap has also secured the top spot on DeFi Pulse’s list of total value locked (TVL) in DeFi smart contracts. With $1.61 billion in TVL, Uniswap has outperformed Maker, whose total value locked is $1.52 billion, followed by Aave at $1.50 billion.
Although Uniswap’s recent surge has been significant, it could prove to be temporary. Part of what is driving this boom appears to the rise of a competitor, SushiSwap. The latter is an as-yet unaudited fork that is intentionally designed to complete directly with Uniswap.
Aave brings tokenized mortgages into DeFi
Aave (LEND) lending protocol has recently partnered with RealT, a firm devoted to real estate tokenization, to bring interest-earning mortgages to the decentralized finance (DeFi) sector.
Dive into the Aave x @RealTPlatform collab to take #DeFi even further and bring mortgages on #Ethereum
— Aave (@AaveAave) September 1, 2020
We're excited to announce that we'll support a proposal to add a RealT Market to the Aave Protocol where RealT assets can be used as collateral https://t.co/g6Tgmb5tmb
Dive into the Aave x @RealTPlatform collab to take #DeFi even further and bring mortgages on #Ethereum
— Aave (@AaveAave) September 1, 2020
We're excited to announce that we'll support a proposal to add a RealT Market to the Aave Protocol where RealT assets can be used as collateral https://t.co/g6Tgmb5tmb
RealT lets investors purchase shares of managing properties. Holders earn revenue directly into their wallets through stablecoins like USDC and DAI. This is similar to how Real Estate Investment Trusts (REITs) works. The main difference between them is that RealT intends to remove any central point of failure and make the system completely decentralized.
Aave protocol is planning to pass a proposal to add RealT money markets to its lending platform. The integration will allow users to borrow stablecoins by using their RealT holdings as collateral.
Stani Kulechov, the founder of Aave, told DeCrypt:
This is an especially important utility when a property’s value starts to increase and the owner wants to use that increased equity without selling.
Notably, the lending market will be “limited to whitelisted Ethereum addresses by a KYC process with RealT.”
LEND/USDT daily chart
LEND/USDT bulls took control of the market following two straight bearish days. The price has gone up from 0.5077 to 0.5494. The bulls need to overcome three strong resistance levels at 0.5822, 0.6455 and 0.66475. On the downside, there are three healthy support levels at 0.50778, 0.4706 and 0.4428
Since we have covered Uniswap and Aave, let’s also take a look at Maker and finish up our DeFi top three.
MKR/USDT daily chart
MKR/USDT bulls took back control after two straight bearish days, with the price going up from 559 to 571.80. In the process, the price has crept back into the 20-day Bollinger Band. The price has three strong resistance levels at 592.68, 616 and 647.65. On the downside, we have two healthy support levels at 559.09 and 530;17
Reactions from the Twitterverse
@maa91038454
Now is the time to start studying.
— ANNE OF SEOUL CITY (@maa91038454) September 3, 2020
1. Which Defi will survive?
2. What are the risk factors exist in the current Defi craze?
3. Sidechain Winner?
4. What is an alternative platform to the Ethereum fee issue?
5. Which stocks are there in preparation for the problem?
Now is the time to start studying.
— ANNE OF SEOUL CITY (@maa91038454) September 3, 2020
1. Which Defi will survive?
2. What are the risk factors exist in the current Defi craze?
3. Sidechain Winner?
4. What is an alternative platform to the Ethereum fee issue?
5. Which stocks are there in preparation for the problem?
@FelixOHartmann
2/ If you don’t understand the importance of what’s going on right now with DeFi, including the absurd yield craze, you need to pause, reflect, and zoom out.
— Felix Hartmann (@FelixOHartmann) September 3, 2020
2/ If you don’t understand the importance of what’s going on right now with DeFi, including the absurd yield craze, you need to pause, reflect, and zoom out.
— Felix Hartmann (@FelixOHartmann) September 3, 2020
@MrJaycrypto
The defi craze is real. But what's more real is the high eth fees.
— Jay of SWIRGE (@MrJaycrypto) September 1, 2020
Time to buidl on better blockcahins.
The defi craze is real. But what's more real is the high eth fees.
— Jay of SWIRGE (@MrJaycrypto) September 1, 2020
Time to buidl on better blockcahins.
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