It’s totally different for DeFi stablecoins, appropriately, as protocols attempt to carve out their very own niches and search for aggressive benefits. Even within the post-Terra world, DeFi continues to experiment with new constructs. Lots of the first era of stablecoin protocols, equivalent to FRAX, had been exploring methods to enhance capital effectivity. However the newest batch is concentrated on passing via yield to customers – in impact, importing “TradFi” returns into DeFi, largely via U.S. Treasury yields (Frax, Ondo Finance, and Mountain Protocol as an illustration).
