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Produced by Daniel Aharonoff & Mogul Media AI

PYUSD Loans and Tokenized Assets: A New Era in DeFi

Unleashing Potential: PYUSD Loans and Tokenized Real World Assets In a groundbreaking development within the decentralized finance (DeFi) sector, a Swiss-based platform, Backed, has emerged as a pivotal player by powering PYUSD loans through tokenized Treasury Bill ETFs. This innovative approach not only enhances the utility of PYUSD but also provides new avenues for users to earn yield on their deposits, thus reshaping the landscape of stablecoins and lending markets. The Mechanics of PYUSD Loans Depository Functionality : Users can deposit PYUSD, a regulated USD stablecoin issued by Paxos for PayPal, into a Morpho Blue vault. This vault supports two types of collateral: Backed's tokenized Treasury Bill ETFs Lido’s wstETH Yield Generation : Depositors of PYUSD earn yield by lending to borrowers who take out loans. This dual engine mechanism—an innovative blend of real-world yields and crypto rewards—optimizes returns across varying market conditions. Tokenized Rea
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Produced by Daniel Aharonoff & Mogul Media AI

Unveiling Trends: Crypto Developer Landscape Analysis by Electric Capital

The recent report from Electric Capital presents a mixed bag for the crypto industry, showing a decline in the number of active open-source crypto developers while highlighting positive trends in other key areas. Here's a breakdown of the findings:

Drop in Active Developers

  • A sharp 24% drop in the number of active open-source crypto developers from the end of 2022 through 2023.
  • Just over 22,000 developers currently operate in the industry across various blockchains.

Reasons Behind the Decline

  • The decline is attributed to the crypto winter following the collapse of cryptocurrencies UST and LUNA in May 2022, as well as the FTX collapse in November of the same year.
  • Majority of developers who left the industry in 2023 were new to crypto, with over 52% of developers with one year or less of experience exiting the space by December 2023.

Positive Trends

  • Developers with one to two years of experience only dipped by 1%, while developers with over two years of experience grew by 33% by the year's end.
  • Geographic diversity of developers has increased, with a decline in U.S.-based developers and a rise in developers from non-Western countries in Asia, Africa, and Latin America.
  • Europe continues to lead in producing the most crypto developers globally, with 34% of developers from the region last year.

Development Focus

  • 34% of all developers now work on multiple chains, indicating a growing trend towards multi-chain development in the crypto industry.

The crypto industry faces challenges with the departure of developers, but the resilience and growth seen in experienced developers, geographic diversity, and multi-chain development present promising opportunities for the ecosystem moving forward.

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