TVL soared by 454%
The peak number of daily active addresses exceeds 1.1W
Stablecoin average daily trading volume increased by 949%
When the market's attention is attracted by "stock tokenization", the "foreign exchange tokenization" track is also quietly exerting, and since the official announcement of the expansion of multi-chain by "Swift on the chain" Mento at the end of July, the August data ushered in a full-scale explosion ⤴️
A very direct logic: everything can be on the chain, stocks/bonds/commodities can be accepted, why not? What xStocks is doing is to provide on-chain trading channels for users who are inconvenient to buy US stocks, and what Mento wants to do is to provide "7x24 hours, zero slippage, no intermediaries" multi-chain foreign exchange services for users who need to exchange currency, and before transforming into a multi-chain foreign exchange service platform, Mento(@MentoLabs) is a star stablecoin platform on the payment public chain Celo, and its accumulation in the field of stablecoins can be traced back to 2020
Currently, they support mainstream stablecoins in 15 countries, including cUSD/cJPY/cEUR, which is indeed a good channel for countries with poor currency stability (such as Africa) or actuaries who need exchange rate arbitrage (Dune data shows that 99% of the trading volume in the past three months has been concentrated in cUSD, which is in line with expectations haha, but cEUR also had a peak in April this year)
In fact, there are many projects exploring "foreign exchange tokenization", such as Injective and even part of the business territory of WLFI USD1 are involved, foreign exchange to the financial world is like blood vessels to the human body, Mark, maybe one day we will usher in the "currency moment" of foreign exchange
Finally, attach the data source
TVL：
Transaction Volume / Number of Active Addresses:
Show original
48.53K
58
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