Disruptive Applications in the encryption field in 2024: Who is reshaping the game rules?

Original Title: Crypto’s greatest app innovations in 2024

Original author: Donovan Choy

Original text source:

Compiled by Daisy, Mars Finance

Pendle

The existence of Pendle stems from the demand for speculation in the cryptocurrency field.

In the short development history of Pendle, its team has continuously optimized yield trading products, from stablecoins and notorious 'DeFi 2.0' (Olympus DAO) during the bull market in 2021, to liquid staking tokens during the bear market, real-world assets on Arbitrum, and liquid re-staking.

It wasn't until early 2024 that the metaverse exploded, and Pendle truly had its moment in the spotlight, with its Total Value Locked (TVL) skyrocketing from millions to billions of dollars. Pendle's Principal Tokens (PT) and Yield Tokens (YT) became essential tools for any user looking to engage in leveraged yield farming or fixed income farming.

Fluid

Fluid is a perfect example of innovation. It integrates many successful primitives in DeFi, such as Uniswap v3's concentrated liquidity and Aave's utilization curve, and then redesigns the traditional automated market maker (AMM) liquidity provision from scratch.

Through its 'smart debt' and 'smart collateral' mechanisms, Fluid supports DEX liquidity pools with depths of millions of dollars, and technically, the TVL of these pools is zero. Behind this capital efficiency is the clever combination of debt generated from lending protocols and AMM liquidity pools.

Ethena

Stablecoin is one of the most competitive fields, so achieving a market value of 6 billion US dollars within a year is particularly impressive for USDe.

Previously, most stablecoins sought to balance between centralization (USDT) and scalability (DAI), while Ethena, through a series of business partnerships with centralized exchanges (CEX), has launched USDe. The stablecoin utilizes funding rate arbitrage from CEX and DEX perpetual contracts to bring profits to users and achieve scalability.

GEODNET

To achieve centimeter-level accuracy in GPS technology, traditional companies need to deploy thousands of real-time dynamic (RTK) networks, such as base stations and mobile receivers, globally.

GEODNET uses encrypted tokens as incentive mechanism to expand the deployment scale of RTK network. As of November, GEODNET has deployed at least 10,000 base stations in 140 countries, far exceeding the total of 5,000 base stations from traditional providers Trimble and Hexagon.

It is worth noting that the deployment cost advantage of GEODNET is significant. Deploying a base station through GEODNET costs only about $700, which is 97% cheaper than the traditional cost of $25,000. If this is not considered innovative, then what is?

For more information, please refer to the free report from Blockworks Research.

Virtuals

Virtuals is one of the most outstanding "tool-type" projects in the recent AI agent craze.

It is an AI agent factory that allows anyone to create a tokenized AI agent. Similar to pump.fun, when the agent reaches the standard of a market value of $420,000, its native token will be bound to the DEX liquidity pool (Uniswap v2).

Virtuals, built on Base, has generated at least 12,000 AI agents since its inception, including the popular anime robot Luna. Luna runs 24/7 and supports tipping with its exclusive token.

Virtuals' innovation combines several key elements, including large language models (LLM), encrypted wallets, innovative value accumulation token economics, NFT and IPFS data storage, etc.