InfiniFi: Could the chain-based partial reserve experiment break the earnings ceiling of the stable currency?

Project Profile

InfiniFi is oneChain-based fraction reserve systemThe aim is to introduce part of the reserve mechanism of traditional banks into the DeFi ecology and to systematically address the long-standing existence of traditional banksTerm mismatchThe problem is that, by allowing users to choose to set stable currency deposits as "current" or "periodic" and to configure locked funds (and partial liquidity) to long-term asset strategies such as Pendle, Ethena, AAVE, etc., InfininiFi has effectively improved asset efficiency and overall return. This mechanism has enabled InfiniFi to break through the traditional full-cost model of the reserve, so that different preferred users can reap relatively desirable benefits.

From a market demand perspective, InfiniFi responds to the current demand of DeFi ecology for "high returns + portfolio + stability" stable currency deposits. On the one hand, there is an urgent need for chain users to have a better interest rate than the stable currency of traditional banks; on the other hand, the InfiniFi logic of revenue generation and payment through the transparency mechanism of the chain is compatible with the deFi user-friendlyTrust and rewardThe double expectation.

Finance and team

Pre-Seed Financing, 300$ millionI don't know. The round was led by a leading investment agency, Electric Capital, New Form Capital, Kraynos Capital, BaboonVC, etc., and attracted several well-known individual investors, such as the founder of Frax, Sam Kazemian, a well-known host of DeFi podcasts, DeFi Dad, and Gabriel Reyes, and Alan Keegan.

The team has a deep block chain and financial engineering background, mostly from Revest or related projects, and has extensive experience in the development of smart contracts and the design of the DeFi protocol.

• Founder RobAnon @RobAnon94 Former Revest Finance founder and CEO with extensive DeFi entrepreneurial experience
• Co-founder of CryptoMatt@0xmattyice, former Project Manager of Revest Finance
• The director of Defi's kirk @0xKmack Alea Research, the director of BD, and the former head of Revest Finance BD
• BD supervisor, Jeanice Tse, former head of Revest Finance BD

The team continued Revest's exploration of structured financial instruments and built a stronger asset management logic in Infofi.

Brief description of the mechanism

Deposits and foundry mechanisms

1. Deposit of assets: After the user has deposited USDC into the InfiniFi protocol, the system forms an iUSD equal to 1:1 to represent its certificate of deposit.

2. Mobility I'm sorry, vs. Lock：

• Mobile depositorsiUSD can be redeemed at any time and the system maintains a reserve to support immediate payment.
• Lock Depositor: User selects a "unlocking waiting period" and obtains a "time multiplier" that is proportional to the length of the lock. The multiplier is used to calculate its weighted share in the distribution of proceeds.Current1The interest rate for the weekly exit period is12.59%， 4WeekYes13.54% ，8Zhou14.03%。

3. ProceedsAllocation：

• Of all funds deposited, one is invested in low-risk, high-liquidation agreements (e.g., Aave) and another (including some liquidity) is invested in high-yield, long-term assets (e.g., Pendle fixed-income instruments).

• Based on the weighted share of each depositor, the system allocates the above-mentioned investment returns proportionately to the liquid and locked depositor, who can receive higher than a single channel.

Self-harmonized Asset Allocation MechanismSelf-Laddering）

1. Market signal collection: Users take the initiative to "state" to the agreement's future intention by choosing different release waiting periods.

2. Assets–Liabilities matching: Agreement to measure the total weighted amount of deposits under the various locks for a fixed period, by which assets of the corresponding duration are configured. For example, when a large number of one-year locked deposits appear, the system will deploy a matching Pendle one-year instrument to reduce the risk of a maturity mismatch.

3. MobilityPresent: The system allows for a percentage of the current deposits to be drawn from the above-mentioned long-term asset allocation, thus further increasing the earnings of all depositors while ensuring base liquidity.

Redemption and Qing.Mechanisms

1. Instant Redemption: Flow depositors can burn iUSD at any time, at which time they will be redeemed in the stable currency in the pool.

2. Redemption queue: If there is not enough system flow reserve, there will be no fair MEV advantage in the foreclosure request. Enter the FIFO queue to compensate for the buy-back of the locked asset as it expires, ensuring that there is no MEV advantage in fairness.

3. Secondary market flows: Users can also trade iUSD on AMM such as Curve for temporary mobility.

ScorePlanned

The first quarter of the crediting system went online in June 25, for a period of six months. User-basedActs of deposit, pledge, locking, provision of liquidity, etc.• Issue points for future governance and potential incentive distribution.

According to official statistics, a total of 122,803.74 points are currently distributedI don't know. RECOMMENDED MECHANISMS 10% Conversion incentive.

Bonus Bytes is a crediting system independent of "infiniFi Points" that operates in different award pools and focuses on the user's "involved behaviour on the chain". By inviting users to play, task-driven, the system encourages users to perform voting, interaction, asset holding, etc., and obtains an incentive byte. If users have been involved in certain projects, they may find that they already have an incentive multiplier. The incentive multiplier multiplied by the task multiplier and score of the user, i.e. the byte of the incentive within a given week. NameIncentive bytes = ScorePoints * Mandate multipliers * Incentive multiplier.

According to official statistics, 87054.55 Bonus BytesThe specific mandate-weighted mechanisms are as follows:

Data analysis

According to Dune, as of June 21, 25, infininiFi's TVL has been growing steadily and is now about 3278.$ millionI don't know. In total, approximately 328.8 million iUSD were found and pledged approximately 6.695,000 iUSD, with an estimated 9.405 million iUSD locked, co-existing in 32.807 million USDC, and currently PT-iUSD in Pendle totals approximately 6.74 million. This reflects early market acceptance of its structure and ongoing user confidence.

Summary

Currently, Infofi is inStarting phaseI don't know. Although the products are on line and the market reaction is first seen, their overall size is still smaller than that of industry giants, such as AAVE and Curve. In the area of risk, the central challenge of InfininiFi is thatSecurity and complianceI don't know. First, intelligent contracts, asset allocation and long-term matching logic require frequent auditing and retroactivity. It's now passed Spearbit.、Cantina Crowd、Audits by security agencies, such as Certora, and the establishment of a gap reward scheme. Second, its revenue model is close to traditional banks or may trigger financial regulatory boundaries in some areas. In addition, they face competition for funds from agreements such as Pendle, Gearbox, Morpho and Sommerier.

Overall: InfiniFi is a potential agreement for "structural innovation + precision" and, if it balances benefits and security, efficiency and transparency, growth and governance, it is expected that it will be one of the representative projects for the next phase of DeFi's "Stable Currency Deposit Optimization" project.