Biweekly update on Ethereum DeFi ecosystem vol.10, 22nd July — 5th August
Augur and Bancor V2 launches, Coinbase introduces Dai rewards, MANA added as Dai collateral, Aavenomics upgrade, mStable’s EARN is live, yEarn v2 introduced, Dharma integrates Uniswap, and more!
TL;DR
-Augur v2 launched on July 28, 2020 and then relaunched with no more GSN/new account fee. Augur v2.1.8 released.
-The Bancor v2 smart contracts have been successfully deployed to the Ethereum mainnet. BancorV2 offers a solution to the Key challenges holding back Automated Market Makers — asednamely impermanent loss, multi-token exposure, low capital efficiency and high opportunity costs for lenders.
-July has been the most active month for the Aave Protocol, reaching new levels for deposits and increased usage. Check out Aave July newsletter for a recap of the month, including Credit Delegation, Aavenomics (their new tokenomics upgrade proposal which includes key things such as a migration from LEND to AAVE at a 100:1 basis, the introduction of a safety module, liquidity mining), and more.
-MKR holders accepted Decentraland’s MANA as a new collateral asset into the Maker Protocol, and several votes on asset debt ceiling increases were held. Moreover, MakerDAO hit 1 billion USD in value locked up.
-In the latest Compound newsletter, read about: two new proposals that passed through Compound’s governance system (effecting REP and DAI), COMP delegation and voting with gas-less signatures, Q&A with the HAL team which built Compound.
-mStable introduces EARN: a hub that allows you to stream and keep track of your MTA rewards in real time. Learn more here. Check out mStable Dev Update — July.
-Last week, yearn.finance V2 was announced. It has three main components: yVaults, Controller and Strategies. You can read the full details here.
-Dharma is adding token-exchange protocol Uniswap as its latest in-app offering. In addition to earning “interest” on Ethereum stablecoins, Dharma users will now be able to trade any ERC-20 token for another. The Dharma app also got a fresh coat of paint!
-1inch passed 1 billion USD in volume and Silicon Valley’s Russ Hanneman made 1inch a “3 comma club” video. Read how to use Chi token to save 50% ETH gas fee in 1inchExchange. 1inch now listed on Coingecko.
-Gnosis Safe Multisig Mobile Beta Announced: You can now download the beta version of the app here. In this first version, users have access to read-only features after adding a Safe. In the future, the team is planning to add functionality to initiate and sign transactions from mobile. Furthermore, you can now stake SNX, mint and burn sUSD, and claim staking rewards through Gnosis Safe apps. Gnosis Bug Bounty launched: Find bugs, get rewarded. Earn up to $100,000 for every bug you report. Head here for more details. It’s been a month since Dxdao launched decentralized prediction market Omen: read through the full report here.
-Liquidity mining on UMA is now live. The yield dollar from UMA can be minted by staking WETH as collateral which means that traders can leverage their long positions on ETH with a fixed interest rate.
-Over $100 million in volume has now flown through 0x API. The team announced a bug bounty for the 0x Exchange Proxy. The program is open to participation from anyone. Matcha.xyz just crossed $50 million in volume since launch thanks to a monster $9.5 million trade.
-The first Nexus Mutual Bug Bounty announced: Earn up to $5,000 for every bug you report. Find ‘How to protect yourself against hacks’ with Nexus Mutual on Bankless.
-Set V2 introduced, a new protocol built to give users and portfolio managers access to all of the exciting opportunities available to them in DeFi.The team releases the Fixed Income Proxy Set by Moonquant Capital. Davoa Capital as a new social trader on TokenSets announced. Check out Techemy Capital — Set Social Trader AMA Series
-Watch Kyber Network Live Q&A on Chainlink integration, decentralized oracles, and the Future of DeFi. V-ID (VIDT) is now available on Kyber.
-Last past month the Loopring team primarily focused on the contract upgrades and audit of Loopring Smart Wallet 1.1, and the development and testing of Loopring Protocol 3.6. Related research and development are progressing smoothly. The focus in August is the security audit of protocol 3.6 and the optimization of the smart contract mobile wallet app. Loopring now supports Compound cTokens and Aave aTokens for zkRollup transfers (Loopring Pay).
-The Synthetix team has published an overview of what’s still planned for Synthetix for the rest of 2020 (including a summary of what’s been delivered so far this year). Synthetix founder Kain Warwick has published his views on the current state of Synthetix for H2, 2020. Synthetix also released an update announcing that the Synthetix Foundation has been decommissioned and the protocol is now under the control of three distinct DAO’s: the protocolDAO, the grantsDAO, and the synthetixDAO.
-The Wolpertinger is here. Raiden Network have released version 1.1.1 of the Raiden client.
-RenVM has surpassed 100M USD in total volume in just over two months. These weeks, the Ren team has open-sourced the multichain project: a set of common interfaces and modules that can be used to implement access to any kind of blockchain. This is the API standard used by RenVM; any asset/chain added to the multichain can be considered for support by RenVM. Check out July Development Update and fresh Ren Ecosystem Update.
-Balancer just surpassed $500 million in all-time volume.
-xDai weekly recap is here.
-AMM-based projects like Uniswap and Curve now account for +80% market share of DEX volume
-New Zerion launched. You can now track the entire DeFi market from the same place as your portfolio on Zerion. Explore trending liquidity pools, Sets, crops and more.
-Rotki v1.6.0 released. This new version now has support for Aave, balance overview for all DeFi protocols, ENS support and a redesign of the accounts and balances page.
-The RAI reflex bond is now live on the Kovan testnet for the community to have a play around with.
-Matic Network is launching a DeFi Incubator Program.
-PieDAO has three DeFi index tokens in the works.
-Short DAI introduced. Using InstaDApp, you can create a short position by up to 14x via a Maker USDC Vault in a single click without price volatility risk.
-Boardroom, a universal governance dashboard and SDK for DeFi and cryptocurrency protocols, announced.
-Investing in DeFi withJoey Krug on Bankless.
-Stani Kulechov talks Constant Innovation, Credit Delegation and Cross Chain Aave on Ethereum Entrepreneur Podcast.
-How DeFi could disrupt traditional finance, feat. Sergey Nazarov.
-Bloomberg reports on recent trends in DeFi and liquidity mining strategies.
-In the seventh edition of Coinbase’s Around the Block, Justin Mart analyzes DeFi sector growth, Ethereum network congestion, and DEX popularity.
-Coindesk journalist Brady Dale looks at the major events in DeFi’s short but promising history.
-Forbes journalist Clem Chambers reports on how DeFi has impacted the Ethereum community.
-And much more!
Read the full report here.
⬙Check out our latest biweekly report on Ethereum vol.49: 21st July — 4th August.
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