GM20231010

1) Market trend:

The market fell, and the copycats plummeted.

U.S. stocks rebounded. Dovish speeches by Federal Reserve officials lowered expectations for interest rate hikes within the year, and the U.S. dollar index fell.

2) Market hot spots:

1. eth fell. The eth foundation sold about 300wu of eth, but it was actually used to issue bonuses. The gas on the chain dropped to 7gwei, and transactions were inactive.

2. The stable currency lqty has surged. lqty is a copycat of makerdao but more decentralized (only eth is allowed as collateral). The demand is to pledge lqty to print the stable currency lusd, and the agreement will distribute 100% of the income to lqty pledgers. In the past month, protocol revenue has increased by 90%, and staking mining APR has reached 25%. The main uses of the stable currency lusd are to earn interest on deposits, YFI machine gun pool mining, AAVE and other mortgage loans.

3. The public chain Strax is rising and converted to EVM, but Strax is an old project in 2017, and the actual success may be very small.

4. Small ticket loom and storj rose, and Korean hot money speculated.