🔍 Is there anyone who doesn't understand the deep support of DWF for @FalconStable? I recommended it a few days ago, and now you can continue to track it.
How to judge the potential of subsequent projects? I like to focus on the data situation of the projects during this period.
No matter how much marketing and project hype there is, data is the best reflection of project results!
1️⃣ For such synthetic dollar protocols, the first thing to look at is TVL.
The first $100 million was easily completed without large-scale marketing, closed testing, and requiring an invitation code.
The TVL of the product has now exceeded $200 million, and the second $100 million was completed in less than a month.
You may not know what this time means? For the vast majority of synthetic dollar protocols, a target of $100 million in TVL takes months.
2️⃣ Next, look at the number of transfers, which indicates the adoption situation.
From the data, the number of transfers of synthetic dollars has been consistently increasing, indicating that the adoption rate of the entire synthetic dollar sector is growing rapidly compared to other stablecoins, with a daily growth of 20%, translating to an annual growth rate of up to 7300%.
Moreover, through data presentation, it can be seen that Falcon's $USDf growth rate exceeds that of other synthetic dollars.
3️⃣ We talked about TVL and adoption rate, next we will look at the comparison of base yield and sources of income.
The chart allows us to draw several conclusions:
1. Compared to other projects that have developed for a longer time, Falcon's TVL is still in the early stages; future data performance will be better, and in terms of yield, Falcon is far ahead of other projects.
2. Currently, mainstream synthetic dollar protocols have relatively single income methods, mainly utilizing positive perpetual contract funding rate differences, LST staking yields, or (like Usual's case) RWA coupon yields to generate income.
Falcon combines four types of delta-neutral strategies (positive and negative funding rates, cross-exchange arbitrage, native staking) to earn profits.
It's simple: the income stability of four earning methods is much higher than that of one or two methods!
4️⃣ Next, let's look at the collateral situation.
The chart shows that the number of collateral types supported by Falcon is 1-5 times that of other projects, meaning that whether it is capital efficiency, risk, or user coverage, Falcon has unparalleled advantages.
5️⃣ Finally, let's look at the LP yield situation.
By splitting assets into YT and PT through Pendle, users can trade or lock in interest rates; among currently mainstream synthetic dollar protocols, Falcon has the highest LP yields.
6️⃣ In summary: Falcon's various data and indicators are considered the leader in the synthetic dollar sector, and its yield situation is also the best choice for current user participation.
If BTC continues to rise, combined with the following situations, I personally feel that the potential of the synthetic dollar sector is enormous; in the absence of significant opportunities in altcoins, this sector may lead the entire altcoin bull market!
1. Trump's WLFI is also laying out in the stablecoin sector (here's a small tip: DWF has a partnership with WLFI, possibly as its market maker?).
2. Circle is still considering going public; Circle is the issuer of USDC and is considered a leading stablecoin in the industry.
3. Currently, the stablecoin market is only around $241 billion; analysts like Nikolaos Panigirtzoglou from JPMorgan estimate that yield-generating stablecoins could occupy up to 50% of the market share in the future.
This means that yield-generating stablecoins (such as Falcon) should occupy a market size of around $120.5 billion, assuming the market scale remains unchanged, whereas currently they only occupy about $12 billion, leaving around 10 times growth potential.
