Biweekly update on Ethereum DeFi ecosystem vol.14, 16th September - 30th September
10B TVL milestone, Aave introduces genesis governance, Uniswap distributes UNI, Synthetix is heading to layer 2 with Optimistic Ethereum, Nexus Mutual’s shield mining is here, and more!
TL;DR
-UNI, the Uniswap Protocol governance token, is live now on the Ethereum mainnet. UNI officially enshrines Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities.
-Synthetix Updates: The Synthetix protocol has been updated with the Formalhaut release, Synthetix is heading to layer 2 with Optimistic Ethereum, and a new Synthetix stats website is now live.
-Check out latest Yearn Finance Newsletter #3 covering SyntheticRebaseDollar announcement (an auto rebasing index that tracks the dollar value of the collateral that creates it), yUSD rebranding, governance updates (YIPs), recent yVault updates, ecosystem news, and more. Andre Cronje of Yearn Finance on YFI and the Fair Launch: ‘I’m Lazy’ on Unchained.
-mStable Staking v1 was released. Staking V1 is all about bootstrapping their governance community with Meta stakers being able to propose and vote on several aspects of the mStable protocol. mStable Dev Update — September: Monthly digest of happenings from within the mStable engine room. The team also published Developer Grants Program — $50k Max Funding: Learn about what we would like to fund, amounts, and more.
-Aave Governance is officially on mainnet, giving the decisional power to the community! Now it’s time to vote on the very first Aave Improvement Proposal (AIP) for the token migration from LEND to AAVE. Aave x HackMoney is back: Aave is proud to sponsor the event again and will be present during the whole event to support builders.
-The original COMP distribution plan included an allocation of 775,000 COMP intended to be used by “the community to advance governance through other means — which will be announced at a future date.” In a Medium post last week, Compound Labs CEO Robert Leshner provided further detail on how these 775,000 COMP have been distributed. Submitted by Dharma on behalf of Arr00, Proposal 23: Upgrade cUSDC Interest Rate Model has successfully passed through the Compound governance system with wide voting margins as well as proposal to Set cWBTC collateral factor to 60.0%. The proposal to add Uniswap as a supported asset, and implements an updated Open Price Feed view contract that supports cUNI is in the voting period.
-The Dharma team released the DeFi Assets Wiki — a community-curated, open-source repository of token meta-data, tags, and icons:
-Gnosis and xDai partnership announced: Gnosis has teamed up with xDai, an Ethereum sidechain designed for fast and inexpensive transactions, providing a developer-friendly environment that retains real world economic incentives. Fresh xDai weekly recap is here.
-MakerDAO won’t compensate Black Thursday vault losses: MakerDAO has concluded a governance poll in which Maker token holders decided not to compensate Vault owners who suffered losses by liquidations during the March 12–13 market crash. The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement Oracle Whitelisting, prioritize Real World Asset Collateral, Community Greenlights, and more. It also has placed a series of polls into the voting system which presents polls to implement adjustments to the Base Rate and PAXUSD Debt Ceiling. Maker’s Dai is seeing increased adoption in the NFT ecosystem’s art and culture sectors.
-Augur AMM, L2 & Para Augur: The team announced a new proposal to the community to improve Augur v2.
-1inch partners with xBTC, Social Capital’s first token. As part of the partnership, xBTC will have an exclusive IMO (Initial Mooniswap Offering). Forby, the 1inch team announced cooperation with cybersecurity firm Hacken, an established provider of cybersecurity solutions.
-Ocean Protocol partners with Balancer Labs to launch Ocean Market, an open-source community marketplace for data and the world’s first Initial Data Offering (IDO) launchpad.
-Nexus Mutual’s Shield mining is here: Stakers (risk assessors) will deposit NXM and stake on contracts that they think are secure and this, in turn, allows other members to purchase smart contract cover on that system. Hugh Karp of Nexus Mutual AMA on Bankless.
-Kyber went on a DeFi spree in adding support for CREAM, CRV, SUSHI, SWRV, UNI, YFI, and YFV.
-The migration from Yam v2 to v3 is now live and, if you’re a holder of YAM, you can migrate your tokens across with 50% being available immediately and the other 50% vesting over 30 days.
-APY.Finance raises $3.6 million. APY.Finance, which is building a decentralized finance aggregator for yield farming, has raised $3.6 million in new funding.
-Marqet introduced. It combines AAVE credit delegation with Synthetix peer to contract exchange to uniquely provide trustless margin trading of any synthetic asset with no slippage.
-Liquality wallet now on mainnet. You can use the Liquality wallet to swap from BTC to DeFi.
-BarnBridge introduced Liquidity Mining program which will be a 2-phased approach and will begin once security audits are completed.
-syUSD announced, an entirely permissionless and constantly balance increasing stablecoin. It is an ERC20 token that lets you wrap yUSD into a stable currency.
-dYdX Perpetual Contract historical funding rates are now available via the exchange & API.
-There are 3 new liquidity mining campaigns on Loopring Exchange. ADX-USDT, NIOX-ETH, QCAD-USDT. + BZRX-ETH still live. Moreover, the bug bounty program for Loopring v3.6 is open. Covering the protocol smart contracts and ZKP circuits, we invite you to submit vulnerabilities before November 30th for LRC rewards.
-Gemini listed a range of DeFi tokens, including SNX, UNI, YFI, and more.
-UNI is now available to trade on Matcha.
-The 137th edition of the Raiden Weekly is here.
-Check out Ren Ecosystem Update: September 2020.
-ICL arXiv paper studying DeFi interest rates finds uncovered interest parity does not generally hold.
-China state TV runs positive news about Ethereum and DeFi.
-Fork defense strategies in DeFi.
-ETH supply on CEXs vs ETH supply in smart contracts.
-DeFi is eating CeFi, in images.
-Yield TV — Ep 1 hosted by DeFi Dad.
-New DeFi podcasts.
-And much more!
Read the full report here.
Check out Paradigm’s latest biweekly report on Ethereum vol.53 (15th September — 29th September). Spadina is live, Optimism launches testnet, Gitcoin introduces grant collections, UNI token launches, tBTC is live, Ethereum.org updates, and much more!
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