In the new year of airdrops and interactions, seven potential DeFi projects you can try

24-02-11 15:00

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Original Title: "7 cool DeFi products you should try out"

Original Source: THE DEFI INVESTOR

Original Translation: Deep Tide TechFlow

Introduction

This article aims to list some innovative DeFi products that I have been using frequently recently. Through practicing on-chain applications, it is easier to understand cryptocurrency-related concepts compared to just reading about them. More importantly, early adopters have received generous returns through airdrops in many cases. In this issue, I will introduce several interesting DeFi products that I strongly recommend.

Pendle's Re-staking Pool

Some people may already know that Pendle is the largest yield trading protocol.

By using it, you can bet on whether the return on a certain profit opportunity will increase or decrease, and earn fixed income from your capital, etc.

However, in this article, I will mainly focus on its newly launched liquidity re-staking pool, as Pendle has done a great job in utilizing the re-staking narrative.

So far, Pendle has launched yield farming pools for three types of liquidity re-staking tokens:

Kelp DAO's rsETH.

EtherFi's eETH.

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All of these liquidity re-collateralization protocols are built on EigenLayer, which provides real-time scoring programs for its ETH depositors.

The interesting thing about Pendle's re-staking pools is that anyone can speculate on the airdrop value of EigenLayer and liquidity re-staking projects through them.

Here is an example of the rsETH pool on Pendle:

If you believe that the airdrops of EigenLayer and Kelp DAO will be very successful, buy YT rsETH on Pendle to get up to 27 times Kelp DAO points and 9 times EigenLayer points. This is a high-risk strategy because you can only make money if these points are worth a lot, and you are actually buying points.

If you think these airdrops are overvalued and you prefer to earn a fixed APY of over 30% on ETH instead of airdrop points, then buy PT rsETH.

If you want to keep your Eigenlayer points and earn additional income on your ETH, you can provide liquidity to the rsETH pool.

Whether or not you are bullish on the EigenLayer ecosystem airdrop, you can use Pendle to speculate on it or simply earn additional profits.

Rabby Wallet

If you are still using Metamask, I strongly recommend that you try Rabby.

Rabby is a cryptocurrency wallet designed for Ethereum and all EVM chains. It is built by the team behind the popular Web3 investment portfolio tracker, DeBank.

My reasons for liking it are:

Pre-signature check for security: This is the first reason why I recommend Rabby. The wallet displays many useful details about each transaction you attempt to sign.

More seamless multi-chain experience: When you use a dApp, the wallet will automatically switch to the corresponding chain based on the website you are visiting.

Trading simulation results: For each interaction with the dApp, the wallet will display the estimated balance change.

Revoke Token Authorization: As an additional security measure, you can check which dApps have access to your funds and easily revoke their permissions.

In addition, performing specific operations on Rabby can also earn Rabby points, which may qualify you for Rabby airdrops in the future.

Its integral program was launched just a few weeks ago.