It’s been roughly 3 months since I posted this. It’s been a turbulent 3 months. So, how are we doing on my 100B prediction from 2019?
USDC: 144% 4.1B -> 10.8B -> 26.4B
USDT: 49%% 21.2B -> 41.8B -> 62.5B
DAI 73% 1.2B -> 3B -> 5.2B
Certainly, the downturn has slowed adoption but we have 2 more quarters and USDC alone is chugging along at > 100% quarter on quarter growth so I remain confident we can get another… 5.9B in the rest of the year. A slightly more skeptical view is to reduce these numbers to purely those coins that exist on Ethereum.
USDC: 25,529,863,702
USDT: 30,910,401,959
DAI: 5,233,274,035
So pessimistically we need 40B more and even with the pullback there was over 25B last quarter. Otherwise I can mostly just quote myself it holds up so well.
The money is going to continue flowing in as long as rates hold up. Somehow despite all the inflow we still can find 20%+ yield in the ecosystem. I mean look at this.
alUSD mStable feeder pool: 58.23%
Convex alUSDCRV-f: 15.99%
Bancor DAI: 23.86%
xU3LPb: 43%+trading fees.
These are all just stablecoin pools. Again, the money is going to continue to flow into this space as long as the rates are there to incentivize it.
Global settlement layer which is secured by staked Ethereum. Once central bank digital currencies are here securing this blockchain will become a matter of national security around the world. So when you see
17k3k ETH for sale between here and 2k on gdax alone… just know the people selling are being very very shortsighted.
Very nice article, thanks! Stablecoin DeFi is my passion, and the pools you’ve pointed out are good picks for sure.
We are currently building a project that acts as DeFi middleware you can check out. It acts as a layer where you can pick and choose stablecoin strategies you want exposure to and then gain automatic diversified exposure that optimizes risk and reward for you. Risk is defined by a Risk Model of your choice from the list of DAO curated models. You simply choose your list of strategies and risk tolerance.
We will be releasing more info soon, but you can check out our website and medium:
https://www.spool.fi/
https://medium.com/spoolfi
Feel free to get in touch if you want to discuss, always keen to hear opinions of other enthusiasts 🙂
I’ll certainly give it a skim! Maybe I’ll see you guys on Discord.
Sure thing, join our public discord and you’ll find me. Happy to chat DeFi with likeminded people. 🙂