As LSDfi summer approaches, being an early investor on projects could yield significant returns, just like it did with $LBR.
After conducting some research, I've identified 9 exciting projects in this burgeoning niche.
Let's dive in đ§ľ
Before diving deep into these promising projects, I highly recommend reading the following tweet.
It provides a better understanding of LSD and its respective categories. Kudos to @Defi0xJeff for creating it!
twitter.com/Defi0xJeff/status/1659859171683213312
1/ @SenecaUSD I $SEN , $senUSD
It enables users to collateralize LSD assets to borrow senUSD, loop borrowing. Users are able to borrow against some LPs as well
âď¸ Category: LSD-backed stablecoin, isolated lending market for LSDs.
âď¸ Goal: Unlocking the yield-bearing assets on the LSD ecosystem and increasing capital efficiency.
âď¸ Tokenomics: 13% for presale and public sale. Keep an eye out for being early.
âď¸ Narrative: Omnichain.
2/ @parallaxfin I $PLX
Composable yield strategies for a wider target audience with its four pillar products on Arbitrum and zkSync.
âď¸ Category: Yield Infrastructure for DeFi.
âď¸ Goal: Incentivizing individuals, DAOs, and strategists to maximize yields and create a flywheel economy for LSDs.
âď¸ Tokenomics: The IDO will be in June. FDV will be 20M at launch, and WL can be acquired by participating in Discord activities.
âď¸ Narrative: Untapped market
3/ @raft_fi I $R
Allowing investors to leverage their $stETH up to 11x ( with 1 click ), targeting Aave and MakerDAO's $stETH with increased capital efficiency.
âď¸ Category: LSD-backed stablecoin.
âď¸ Goal: Creating the most capital-efficient flywheel for $stETH.
âď¸ Tokenomics: To be announced, but there will be a governance token.
âď¸ Narrative: Supported by reputable VCs in the ecosystem.
4/ @PrismaFi I $acUSD
Basically, an enhanced Liquity Protocol for LSDfi. Users will be able to mint acUSD with various LSDs (wst-cb-r-sfrx-wbETH).
$acUSD will be incentivized on Curve for a more capital-efficient flywheel mechanism.
âď¸ Category: LSD-backed stablecoin.
âď¸ Goal: Getting the best out of LSDs without tail risk from other stablecoins, being the end game for LSDs.
âď¸ Tokenomics: veTokenomics will be used.
âď¸ Narrative: Backed by Curve, Convex, and Frax.
5/ @LSDxfinance I $LSD $UM
It provides a basket of staked LSDs with its ETHx product and a stablecoin $UM that is backed by excess ETHx
âď¸ Category: LSD backed stablecoin - Farming
âď¸ Goal: Allowing users to swap across various LSD LPs with low slippage, increasing capital efficiency with its $UM stablecoin.
âď¸ Tokenomics: veTokenomics, 45% of the supply is dedicated to emissions. $900K MCAP / $10M FDV.
âď¸ Narrative: v2 is on the way.
6/ @tenet_org I $TENET , $LSDc
A Layer 1 chain that is supported by LSD assets through DPoS. LSDc is a stablecoin that is backed by LSD assets.
âď¸ Category: Layer 1 chain dedicated to LSDs.
âď¸ Goal: Lowering the barrier to entry for soon-to-be investors and providing a revolutionary experience and security that is solely focused on LSDs.
âď¸ Tokenomics: vetokenomics, 23M MCAP
âď¸ Narrative: AI integrations to its products, aiming for new DeFi primitives on LSDs.
7/ @TapioFinance I $tapETH
Users will be able to mint $tapETH with their LSD LPs such as stETH-ETH, rETH-ETH, cbETH-ETH and still earn the underlying yield thus unlocking the more utility with their LPs
âď¸ Category: LSD LP stablecoin that is pegged to ETH
âď¸ Goal: Minimizing the long-tail product expansion on LSDfi with a utility-based LP token $tapETH.
âď¸ Tokenomics: veTokenomics.
âď¸ Narrative: Expansion to Layer 2s.
8/ @gravitaprotocol I $GRAI
Users can mint GRAI with wsETH, rETH with a 85% LTV interest free loan, borrow and loop
âď¸ Category: Borrowing protocol for LSDfi and LSD-backed stablecoin
âď¸ Goal: Creating a positive feedback loop with $bLUSD and becoming the borrowing hub for LSDfi.
âď¸ Tokenomics: TBA. the stability pool might be a good idea for farming the airdrop.
9/ @catinaboxfi I $boxFee
A dynamic lending protocol incorporates a key element that incentivizes responsible borrowing while discouraging excessive leverage.
To acquire boxETH within this framework, users mint through the utilization of stETH.
âď¸ Category: Dynamic Lending
âď¸ Goal: Enabling more utility for yield-bearing LSDs.
âď¸ Tokenomics: $boxFee is a derivative token that allows holders to earn stETH yield. There is a value backing mechanism to drive $boxFee price equal to $boxEth .
âď¸ Narrative: V1.1 is out.
Tagging chads who might be interested - LSDfi 9 projects overview
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@CryptoKoryo
@monosarin
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Tagging chads who might be interested - LSDfi 9 projects overview
@ChillTRD
@rektdiomedes
@crypto_linn
@CryptoShiro_
@DAdvisoor
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@TheFlipperDAO