Trust Talks S2.E2

"Title: Pioneering Peer-to-Peer Lending in the DeFi Revolution" "Written by: Paul Veradittakit, Partner at Pantera Capital" Compiled by: Chris, Techub News Morpho is surpassing traditional protocols such as Compound and changing the DeFi landscape, showcasing the power of its innovative lending model. Initially using Morpho Optimizers for direct peer-to-peer credit limits, Morpho has now expanded to include Morpho Blue, which adopts a point-to-pool model that combines the best of both worlds to improve efficiency.

The first-generation DeFi with the first-mover advantage is still evolving.

Ethena-USDe has achieved rapid rise, and the DeFi ecosystem is welcoming new opportunities. Recently, the total issuance of USDe has shown explosive growth, surging from 2.4 billion USD to 3.8 billion USD within a month, an increase of over 58%. This growth is mainly influenced by Bitcoin breaking new highs, with the market's bullish sentiment rising, driving up funding rates, which in turn enhances the staking yield of USDe. Although it has slightly retreated compared to previous days, on November 26, the annualized yield of USDe still remains at a high level of around 25%. At the same time, MakerDAO has become one of the biggest beneficiaries of this rise. Currently, Maker's daily income has increased by over 200% compared to a month ago, setting a new historical high. This is closely related to the development of Ethena. On one hand, the high staking yield of USDe has stimulated

The yield landscape of DeFi stablecoins is undergoing profound changes. A more mature, resilient ecosystem that aligns better with institutions is emerging, marking a significant shift in the nature of on-chain yield. This article analyzes the key trends shaping on-chain stablecoin yields, covering institutional adoption, infrastructure development, user behavior evolution, and the rise of yield stacking strategies. Institutional Adoption of DeFi: A Quietly Rising Trend Even though the nominal DeFi yields of assets like stablecoins have adjusted relative to traditional markets, institutional interest in on-chain infrastructure is steadily growing. Protocols such as Aave, Morpho, and Euler are attracting attention and usage. This participation is driven more by the unique advantages of composable and transparent financial infrastructure rather than merely pursuing the absolute highest annualized yield, and this advantage is now further enhanced by continuously improving risk management tools. These platforms

AgentFi to XenoFi: A New Paradigm for Stablecoin Yields Against the backdrop of increasingly enriched stablecoin yield strategies, but limited user attention and execution efficiency, AgentFi, as a new paradigm of "AI + DeFi" integration, provides DeFi users with an intelligent agent solution that requires no market monitoring and offers automatic optimization. Classification and Comparison of DeFAI and AgentFi Although DeFAI and AgentFi both belong to the "AI + DeFi" intersection, there are significant differences in their technological essence, product forms, and paradigm missions. The core feature of AgentFi is that the AI Agent acts as the main executor and decision-making carrier, capable of fully automating decision-making and executing in a closed loop, rather than simply using AI as a supplementary tool for data analysis and strategy enhancement. DeFAI Category: Using AI to assist or enhance DeFi-related functions