#KaitoAI @moremarketsxyz @KaitoAI #Crypto

Actually, I have been looking at the MoreMarkets project for a while. It has transitioned from Nuffle Labs to specifically focus on cross-chain yield for idle tokens. Basically, you can earn DeFi yields directly on the original chain without having to move your XRP, DOGE, BTC, and other coins in your wallet.
On a technical level, they use a synthetic asset model. Your XRP remains on the XRP Ledger, but it will become More XRP to participate in lending mining on NEAR. This avoids the risks associated with cross-chain bridges. Yesterday, the market plummeted by 20 billion dollars, but their users experienced zero losses, primarily relying on volume-weighted aggregation oracles to filter out abnormal data.

In terms of data, the TVL is now 28.5M, and the XRP Eagle Account has a single account balance of 14M. It has grown 10 times from the beta launch in March to now. There are over 50,000 active users, and the XRP account APY is between 3.5% and 7%, with weekly XRP dividends. In the last week, 5125 XRP were distributed as dividends.

I think they have captured a real pain point. There are over 400 billion dollars in idle assets in the crypto space, but most people won't bridge to do DeFi because they find it troublesome and risky. MoreMarkets directly addresses this issue.

Risk control was done incorrectly, passing audits from Halborn, Sherlock, and Sigma Prime. Funds are self-custodied, and users can withdraw at any time. The LTV is set conservatively, with a large collateral buffer.

Competitors Aave and Compound are both EVM-centric, ignoring the $200 billion market of XRP/DOGE. The differentiation of MoreMarkets is very clear.

However, there are also risks. The delay of the oracle may amplify LTV pressure. The token TGE is planned for Q4, but specific details have not yet been released. Under market volatility, the mechanism of synthetic assets still requires more stress testing.

From an investment perspective, XRP holders may consider depositing into an Eagle Account to earn returns. Swing traders are waiting for TGE speculation. Keep an eye on Flare integration, as TVL is expected to continue rising.

Overall, it's a stable choice in this chaotic world. After all, when it comes to trading, you always have to rely on your own judgment.