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📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
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Ethereum architecture upgrade and new pattern of DeFi lead industry transformation with multi-chain layout
Ethereum Engine Reconstruction and New Trends in DeFi
Recently, there have been some notable developments in the Ethereum ecosystem and the Decentralized Finance sector. From innovations in underlying technology to the layout of emerging projects, new initiatives from established DeFi protocols, and changes in the stablecoin market, all are worth our close attention.
Potential Transformations of the Ethereum Execution Layer
The co-founder of Ethereum has proposed a bold idea: to replace the existing EVM with the RISC-V architecture as the long-term execution layer. This proposal aims to enhance Ethereum's computational efficiency and prepare for the massive computational demands that may arise in the future. It is important to note that this change only involves the underlying execution engine and will not affect Ethereum's account model and contract invocation methods. For ordinary users and developers, the way they interact with smart contracts will remain unchanged.
The core goal of this proposal is to break through the performance bottlenecks under the EVM framework and address potential long-term issues such as verification difficulties or special hardware requirements. The choice of RISC-V is due to its representation of a general and efficient computing model, along with a mature hardware and software ecosystem. However, this change is substantial, and its practical implementation may take several years.
Strategic Layout of the Ethena Project
The Ethena project has chosen to join the Arbitrum ecosystem, a decision that has attracted considerable attention. Although Arbitrum Orbit and OP Superchain are both Layer 2 expansion solutions, there are differences in their design philosophies:
In short, Orbit tends to focus on vertical scalability, while Superchain places more emphasis on horizontal scalability. Orbit emphasizes openness and flexibility, supporting various data availability options. In contrast, Superchain focuses more on consistency with Ethereum and multi-chain standardization.
New Developments of Established DeFi Projects
Unichain liquidity mining
Unichain's latest liquidity mining program offers considerable returns, but the operational difficulty has increased. Currently, it mainly attracts experienced miners, which may have limited effects on promoting the adoption of DeFi.
BalancerV3 Expansion
BalancerV3 has landed on the Avalanche chain and launched the AVAX incentive program. Although the rewards are attractive, the overall scale is limited. As a long-standing DeFi project, Balancer is striving to find its place amid fierce competition.
MakerDAO's new attempt with the subproject Spark
Spark has deployed $50 million for the first time into non-U.S. Treasury sectors, choosing the Maple platform. This marks MakerDAO's exploration of more diversified investment strategies.
New Trends in the Stablecoin Market
Quick integration of Ripple stablecoin RLUSD
RLUSD has been integrated into mainstream DeFi protocols such as Aave V3 and Curve Pool, demonstrating the market's acceptance of the new stablecoin.
Circle launched the CPN network
The cross-border payment network CPN launched by Circle aims to address the obstacles that stablecoins face in mainstream payments, such as unclear compliance and technical complexities. This initiative is expected to promote the application of blockchain technology in the payment field and may stimulate more countries to issue compliant stablecoins.
Competition in Cross-Chain Bridges Intensifies
GMX has chosen LayerZero as a bridge for multi-chain expansion, a16z crypto has made a large purchase of LayerZero tokens, and Wormhole has released future plans, all indicating that competition in the cross-chain bridge field is becoming increasingly fierce. Although there is strong demand in this field, it also faces challenges in balancing security, efficiency, and economic model design.
![Interpretation of the Weekly DeFi Dynamics: Old DeFi has New Moves, Ethena Launches New Public Chain]###https://img-cdn.gateio.im/webp-social/moments-6f3826e5b6450900baa1de84194bada9.webp(
Conclusion
The DeFi sector is undergoing profound changes, with continuous innovation from the underlying technology to the application level. With the changes in the regulatory environment and the enhancement of user awareness, some previously overlooked models are starting to gain new opportunities. However, while embracing innovation, we also need to remain vigilant, especially in areas involving fund security and risk management.