Redefining the boundaries of Decentralized Finance? A look at 10 new projects worth following recently.

Since the previous article mentioned that the next decade of Crypto belongs to those who understand how to package the on-chain world into financial products that Wall Street can understand.

What recent financial innovation products and protocols in the market are worth paying attention to?

Flyingtulip_—The return work of DeFi father Andre Cronje after his silence, a single liquidity pool integrating trading + lending + leverage all-in-one functionality, not an integration between protocols but a native integration, regarded as AC's final effort to build DeFi 3.0;

Lighter — A perpetual contract platform based on Ethereum application-specific zk-rollups, using SNARK zero-knowledge proofs to verify each transaction matching. The batch verification + specific transaction matching circuit design breaks through the bottleneck of ZK technology for high-performance trading.

aPriori— Pantera Capital led a $20 million investment in MEV infrastructure, which can be simply understood as a combination of Jito and Jupiter, merging Wall Street's HFT high-frequency trading ideas with Crypto's MEV capture mechanism. The staked tokens not only enjoy POS rewards but also share in MEV profits.

Dolomite— exploring the possibilities of "liquidity reuse", where a single capital serves as both collateral and provides AMM liquidity while retaining native governance rights, pursuing the ultimate "capital efficiency";

Mitosis— In simple terms, it will turn Aave's aToken and Uniswap's LP Token, which are originally "dead" protocol tokens, into active assets that can be traded and pledged, achieving an evolution from "protocol composability" to "liquidity programmability";

xStocks - attempting to tokenize US stocks and ETFs using on-chain crypto infrastructure, thereby breaking the barriers of account opening, providing 24/7 trading flexibility, and creating a pathway for fractional stock trading.

Unitas Labs— redefining the standards for the next generation of "yield-bearing stablecoins" in the synthetic stablecoin sector, allowing stablecoins to evolve from passive value storage to active yield generation tools through JLP's diversified underlying assets, with a dual capture mechanism of transaction fees + funding rates;

Hyperwave - The Hyperliquid ecosystem liquidity release tool incubated by Swell Labs tokenizes the locked HLP into hwHLP, allowing the underlying yields to be retained while freely circulating on HyperEVM.

Euphoria— A derivatives trading market based on MegaETH, turning options and futures into a TikTok-style gaming experience of "click once to go long, click twice to go short", exploring the gamification upgrade of financial product experiences; it's somewhat abstract, but worth looking forward to;

USD.AI— can be considered a new paradigm of RWAFi using active assets like GPUs, allowing the retention of usage rights while collateralizing GPUs through the CALIBER framework, addressing the high threshold startup challenges faced by AI startups relying on equity dilution for financing;

Above.

These are protocols and products that have been the focus of research recently, oriented towards financial innovation, and generally align with my expectations for the next phase of DeFi products:

to Wall Street + extreme capital efficiency + user experience innovation....

Or rather, at least they are exploring new boundaries of redefined DeFi.