Biweekly update on Ethereum DeFi ecosystem vol.19, 25th November - 8th December
Aave V2 on mainnet, Yearn merges DeFi, Loopring's zkRollup AMM is here, GnosisDAO announced, Nexus Mutual's Custody cover is now live, Melon integrates Synthetix, The DeFi Bridge integrates RenVM...
TL;DR
-V2 of the Aave Protocol on mainnet! For the full rundown of features as well as full security and audit reports, check out the official V2 blog post. Read November Update: V2 testnet, AIPs, and NFT collabs. Don’t miss ARC: Aavenomics quarterly upgrade.
-Yearn Finance Newsletters #13 #14 covers Yearn ‘mergers’ with a slew of DeFi projects, including Akropolis, Pickle Finance, CREAM, Cover, Sushiswap, and several others.
-Find Developer Community Call recap, information about DAI liquidation event, and governance updates in the latest Compound newsletter. Proposal 030 is in the voting period.
-Read Making Maker: November 2020: Dai use cases are on the rise, too, and the Maker community has stepped up this month with new tools and documentation to facilitate further growth and, ultimately, full decentralization. The DsChief 1.2 Governance Security Update will secure the Maker Protocol against immediate and future risks from flash loan attacks. Also, the MakerDAO Governance Facilitator has placed a governance poll into the voting system on behalf of the Maker Governance community which gives Maker Governance the chance to signal their support or opposition to an Oracle whitelisting and collateral onboarding.
-xDai weekly recap covers the recent Ramp Network direct fiat integration, POSDAO tutorials, media coverage and more. The project was featured in the Thursday Thoughts post by Bankless.
-mStable Dev Update — November 2020 is here: a review of recent development within the mStable ecosystem — work on MIPs 3 and 4, the new AMM, mBTC, more wallet support, enhanced analytics via Graph protocol, and more. Check out Guide: mStable Staking of a series of “how to guides” that covers the basic mStable product suite, before getting into more advanced topics. Scaling Up Subgraph Development: mStable has been using The Graph to quickly process and query on-chain data since launch, and it has helped us to deliver Web3 projects. In this post, the team explores some of the ways mStable has approached some challenges, and provides some tools and ideas for scalable Subgraph development.
-Augur Development Update: November 2020: After a slow start, Augur v2 set new records for open interest and volume. In spite of the bump in usage, Augur’s work is never done. Product improvements are inbound which will make life easier for traders, liquidity providers, and consumers of market odds, alike.
-GnosisDAO announced, a prediction market-driven collective, stewarding the Gnosis ecosystem through futarchy. Check out GnosisDAO Governance Tutorial on how to participate in the prediction-market driven collective. Gnosis Safe now supports Spending limits: a new way to access funds from Gnosis Safe accounts through (recurring) allowances.
-uLABS Gas Futures Token: UMA introduces the uGAS token, a simple solution to hedge and speculate on Ethereum gas prices.
-Melon integrates Synthetix: Melon approved the proposal (MFP#4) made by Simone Conti and Emiliano Bonassi for the integration of Synths within the Melon Protocol. The full proposal you can find here. Good news is Rari Capital moving to the Melon Protocol: Rari Capital will migrate its liquidity to its own fund on the Melon (soon to be rebranded!) Protocol in the coming weeks following the release of Melon v2.
-The DeFi Pulse Index just passed 4000 holders. The December rebalance for the DeFi Pulse Index has been completed.The first meta-governance proposal for Compound is live: INDEX holders can now vote with the >$3m COMP locked in the DPI. Vote on Proposal 030 here.
-Nexus Mutual’s Custody cover is now live: users of centralised exchanges and custodians — who are responsible for the safekeeping of their users’ private keys to cryptocurrency assets — will now be able to purchase custody cover from Nexus Mutual. The team has also launched a new shield mining campaign from Trust Token. Moreover, The Nexus Mutual Capital Pool recently passed $100M in funds.
-There are >40 000 users now on 1inch. 1inch successfully closed a $12 mln funding round led by Pantera Capital. These funds will be used to further develop a variety of 1inch products, hire additional team members, fuel the project’s expansion into new markets and to amplify marketing activities. 1inch sponsors the Gitcoin Grants Round 8 Hackathon: the team to support developers working on innovative DeFi solutions based on 1inch technologies. The team added The Aave Liquidator as an own liquidity source into 1inch. From now they start to liquidate on token SWAPs by taking into account of gas costs and can provide the best price on the DEX market. The team also dropped some killer features. Moreover, they are donating $1k DAI to UNICEF because they believe children deserve a Xmas.
-Bancor Progress Update: November 2020: Last month was an exciting month for the Bancor ecosystem. Following the launch of Bancor v2.1 and the announcement of BNT liquidity mining, total value locked (TVL) increased 5X from $15M to over $85M, driving a 300% increase in weekly swap fees generated by the protocol.
-ENJ, REN, renBTC, and renZEC are among the first tokens to be whitelisted on Bancor v2.1. Both REN and renBTC have been voted by Bancor governance to receive 12 weeks worth of BNT Liquidity Mining Rewards. YFI was approved to receive BNT liquidity mining rewards and Impermanent Loss insurance on Bancor v2.1. Vote for the Next Tokens to Receive BNT Liquidity Mining Rewards: The team proposing 12 tokens for the community to vote on.
-Kyber Reserve Innovation Program: New Liquidity Models For DeFi: In this post the team explains Kyber Network’s flexible reserve system and shares how DeFi developers can create new reserve models to be deployed on the network to provide liquidity for a wide range of unique use cases.
-The DeFi Bridge Integrates RenVM: The DeFi Bridge has integrated RenVM via RenJS. The DeFi Bridge is a simple dApp (similar to RenBridge) that is built by Codefi, an arm of ConsenSys. The dApp allows individuals to mint and burn assets to and from Ethereum. Forby, MyEtherWallet Integrates RenVM: RenVM’s first wallet integration is now live. With this integration, MEW users can convert their BTC and receive renBTC within the MEW mobile app.
-Loopring’s zkRollup AMM is Live: Loopring just launched the AMM based on Loopring 3.6, its improved Ethereum zkRollup implementation. This brings the ability to do gas-free, instant swaps, and gas-free, instant adding/removing liquidity as a liquidity provider on Layer 2. AMMs have been a cornerstone of Ethereum DEX & DeFi success, and now they are on our highly scalable, self-custodial L2. As of now, to walk before it runs, only the LRC/ETH pool is enabled. Loopring Monthly Update — 2020/11: For Loopring November has been an incredibly busy and exciting month, especially the final week. Loopring Wallet has a live beta, Loopring AMM launched a mainnet beta, Loopring protocol v3.6 is being rolled out little by little, and all combined, things are going to get very interesting.
-Synthetix Volume Program trial extended: After three months of trialing their new Volume Program, the team has decided to extend the trial for another three months as they explore making the Volume Program a permanent component of the Synthetix protocol. L2 SNX is now available for withdrawal from the Optimistic Ethereum testnet: The reward claiming phase for SNX stakers on L2 testnet is now complete, and here marks the start of the final testnet phase, in which participants can withdraw their L2 SNX back to the Goerli L1 testnet. Furthermore, SNX and sUSD are now live on Monolith: You can now use SNX and sUSD to fuel your Monolith visa debit card.
-Check out the latest Raiden Weekly. Update 146 covers: M2M Payments Demo with Raiden, new Light Client testnet release, Minor Raiden Service release.
-Yam November 2020 Roadmap Update: Lots of updates from Yam this week covering the protocol, treasury, product, governance and more.
-MCDEX Launched on Arbitrum Rollup Testnet: The MCDEX perpetual swap platform platform is now able to be used on Arbitrum’s layer 2 rollup technology (testnet only for now).
-CopperConnect Announced: CopperConnect is the first tool for institutions to tap into liquidity within DeFi on Ethereum.
-Meet xAAVE: an automated Aave staking token that generates the same returns as stkAAVE but without having to go through the protocol’s manual AAVE staking process.
-To address the shortcomings of AMMs for liquidity providers, the new Peanut project is out and functions as an “advanced price balancer pool” system for DeFi.
-DeversiFi Liquidity Mining Launched: Nectar Beehive V1 went live this week which is a liquidity mining program for the DeversiFi Nectar token (NEC) with the goal of bootstrapping community and liquidity in their ecosystem
-ZKSwap raises $1.7 million: ZKSwap, a token swap protocol being built on Ethereum’s layer-2 scaling technology ZK-rollups, has raised $1.7 million in an angel round.
-InsurAce raises $1 million: Decentralized insurance protocol InsurAce has raised $1 million in a seed funding round.
-The Singapore FinTech Festival (SFF) is one of the largest FinTech events with speakers including Bill Gates, Sundar Pichai, and other CEOs from the largest finance & tech companies.
-DeFi Virtual Summit by SCB 10X soon.
-How to Mint DPI and Earn INDEX
-Indexes in the DeFi ecosystem
-And much more!
Read the full report here.
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