Recently, Aster's score brushing has started with great enthusiasm. It feels like returning to the days of DYDX.

The cryptocurrency industry is like this; the cost of forking is extremely low. It's difficult to establish a moat in a day. Looking at sectors that can accommodate over 10 billion in funding, there is basically no dominant player; at least there is one strong leader among many strong competitors.

Lending track: AAVE stands out, but morpho and spark are also growing rapidly, and there is also kamino on the Solana chain.

Perpetual contract track: previously there were DYDX and GMX, now there are Hype and Aster, the leaders have changed one after another.

DEX Track: uni, pancake, aero, and ray hold their respective public chains.

Stablecoin sector: Tether, Circle, Ethena, Sky, and WLFI are in fierce competition.

In the end, it seems that only Pendle has surpassed 10 billion in TVL without seeing any competitors. Is ratex barely considered one?

Pendle still seems too undervalued. #LaunchpadXPL认购开启#