Biweekly update on Ethereum DeFi ecosystem vol.44, 7th December — 21st December
$99B in DeFi, The Gnosis Chain (formerly xDai) journey begins, Coinbase and Compound team up, Balancer launches Boosted Pools to increase LP yields, Yearn is likely to undergo tokenomics changes...
TL;DR
-$99B in DeFi this week, currently at ~ $98.7B, with Maker dominance 18.89%.
-GIP-16: Gnosis Chain — xDAI/Gnosis merge has been accepted. GIP-17 Gnosis DAO Safe update AND new treasury management Safe is now live for voting GIP-18: Should GnosisDAO invest at TickDAO? GIP-19: Should Gnosis DAO burn 715k GNO? Find out the latest GnosisDAO proposals here.
-The Gnosis Chain (formerly xDai Chain) journey begins. STAKE to GNO swap application now live on Ethereum and GC. Gnosis Chain Weekly · December 17, 2021: The team continues to update sites, DEXs, social spaces and the many other places referencing the xDai Chain. One of the first big developments to emerge from the merger is the launch of the Gnosis Beacon Chain (GBC). Two zk (zero knowledge) solutions announced Gnosis Chain integrations this week designed to provide increased user privacy: Tornado Cash and Zero Pool. Curve and Sushi are two well-known projects deployed and active on the Gnosis Chain.
-mStable Emissions Controller introduced: The Emissions Controller will move MTA emissions from a manual weekly distribution method to be completely on-chain instead. Emissions Controller Guide: A how-to guide for using the newly released mStable Emissions Controller. mStable launches mUSD/FEI Feeder Pool. November Community Update. Check out mStable’s latest proposals here.
-[Proposal] Evolving YFI Tokenomics. A new proposal to evolve Yearn Tokenomics, rewarding YFI holders with the Yearn token buybacks. YFI — Reborn As A Black Hole. Read in the latest Yearn Finance Newsletter #50: New Yearn UI, YFI Tokenomics Update Proposal, Updated Yearn Docs, YIP-64 Fails To Meet Quorum, Yearn Delegates 23M veCRV to Convex, Yearn Snapshot Strategy, Vaults at Yearn, Ecosystem News.
-Coinbase and Compound Team Up: Users can now earn interest on their DAI via Coinbase’s integration with Compound protocol. News in the latest Compound digest: Coinbase Launches Compound Integration, Protocol Auditing Proposals, MakerDAO Deposit Module to Compound. Compound Proposals 73, 74, 76 passed through the governance system with broad community support, Proposals 75 and 77 failed. Find the latest Compound proposals here.
-Balancer has launched ‘Boosted Pools’, which will supply excess liquidity to Aave to earn yield. Balancer has launched ‘Boosted Pools’, which will supply excess liquidity to Aave to earn yield. Balancer Labs and Copper Align To Pave The Way For Future Revenue Generation. The latest Balancer Report is here. Kia from Balancer Labs posts their bi-weekly community update. OlympusDAO has voted to seed a new OHM pool on Balancer. Alchemist adds 80/20 MIST/WETH liquidity on Balancer.
-Latest Aave News: CC6, Business License Favoured in Snapshot Vote, the Next Iteration of Aavenomics, and more. Follow the Aave governance forum. Discussions are happening around the next iteration of Aavenomics, including implementing a veCRV model. HAL shared a proposal to add their notification system to the Aave UI.
-The dYdX team has released a post-mortem regarding the Deposit Proxy smart contract vulnerability that was found on November 27, 2021. Details include what happened, the fix, the bug bounty, and reimbursements to users for gas fees and stolen funds.
-SuperUMAns #18. A Roadmap For YAM: Ross from Yam Finance wrote a thoughtful appeal to use UMA’s KPI options to create a protocol owned liquidity program for Yam.
-Aztec Connect is live on testnet: Aztec Connect is a private bridge for Ethereum DeFi which allows for up to 100x gas savings — it’s now live on testnet.
-Euler is live on mainnet: Euler is an ambitious new primitive in DeFi custom-built to handle the risks associated with lending and borrowing illiquid or volatile assets.
-FLI Launches on Polygon: The Flexible Leverage Index (FLI) from Index Coop has launched on Polygon alongside Set Protocol. Introducing the ETH 2x Flexible Leverage Index on Polygon, Easy FLI issuance on the Polygon Network. Index Coop also announced a $2.5 million raise led by Sequoia India, Blockchain Ventures and White Star Capital. Find the latest Index Coop proposals here.Index Coop November 2021 — Treasury Report. Conversations with the Coop — Romain — Paladin.vote (Transcript Included): Paladin is a decentralized, non-custodial governance lending protocol where users can either loan the voting power in their governance token, or borrow some voting power. sCoop Weekly — 2021.12.17.
-Limit Orders upgraded to 0x V4: Limit Orders on Matcha have been upgraded to use 0x V4: This means more efficient approvals and paves the way for multichain limit orders (coming soon). The Polygon wallet app now supports token swaps powered by 0x API. 0x Ecosystem 🪐 Spotlight: DappRadar: An interview with 0x API integrator DappRadar, a platform for exploring, tracking, and managing dapps.
-The 1inch Limit Order Protocol v2 is released: Among the improvements is a breakthrough feature enabling users to gaslessly swap into ETH dozens of tokens that support permits. 1inch launches collaboration with Parts of Four: A joint NFT collection by 1inch and Parts of Four will debut as a Mystery Box drop on Binance NFT Marketplace. 1inch integrates with Skynet’s Homescreen. What’s more, 1inch successfully hits $110B in total trading volume on the Ethereum network.
-The Bancorian | A Weekly Summary-December 5th, 2021: The tentative go-live date for the launch of Bancor 3 Phase I Dawn is in Q1 of 2022. To prepare for the launch, the team has a new Bancor 3 landing page that details the features of Phase I (A.K.A Dawn) as well as a roadmap. Dawn will include dual rewards, composable pool tokens, liquidity direction, third-party IL protection, and revised tokenomics. Dawn will be followed by Bancor 3 Phase II (Sunrise) and Phase III (Daylight). The team has launched a new UI for the Bancor web application which is powered by their new APIs. The Bancor proposal to increase trading liquidity in the PSP-BNT pool is live. Bancor 3 features deep dive: Omnipool.
-DMM is Now KyberSwap — on a mission to provide the best trading and earning experience in DeFi. KyberSwap Brings the Best Rates and Capital Efficiency to Cronos Chain: KyberSwap DEX Aggregator and liquidity protocol will enable the best prices for traders and higher returns and capital efficiency for LPs on Cronos chain. KyberSwap integrates with leading token trading analytics platform DEXTools: More than 30 million DEXTools users can now view and access KyberSwap token pairs, giving users more exposure to KyberSwap’s competitive rates. KyberSwap Partners with Sipher on $50 Million Liquidity Mining Campaign to Provide the Best Liquidity and Rates for the SIPHER token: Sipher has chosen the capital-efficient KyberSwap protocol and DEX Aggregator for enhanced token liquidity on Ethereum, with ~$50M+ in SIPHER and KNC rewards. Find out all Kyber proposals here. Check them out on GitHub.
-The Uniswap community has voted to deploy v3 on Polygon through the governance process. Uniswap Usage on L1 Ethereum Mainnet side-by-side with L2 Optimistic Ethereum. Alex Kroeger’s article on UNI being an oracle token and utility it could bring to the protocol, nicely briefs the history of uniswap oracles, provides actual v3 oracle usage data on dune analytics and its pros/cons. UNI Letters #8. Latest Uniswap proposals are here.
-Major Subgraph Improvements: The Synthetix team has recently released a major update to Synthetix subgraphs. This will allow for easier and more accurate queries. The Alhena Release: On December 16, the Alhena release took place.
-Mean Finance v2 enters beta: The V2 is completely decentralized, permissionless, composable and supports layer 2 networks.
-Inb0x introduced: Inb0x is an end-to-end encrypted communication between wallets, secured by your Ethereum address. A service for anyone to send and receive messages to any wallet, using their ENS or 0x address.
-Voltz Protocol raises $6 million: The seed round was led by Framework Ventures with particpation from Coinbase Ventures, Robot Ventures and more.
-JellyFi raises $4.4 million: The seed round had backing from Lemniscap, ParaFi Capital, Tioga Capital and others.
-Loopring Holiday Trading Giveaway: $600,000 in Prizes: If you haven’t already been trading gas-free on Ethereum, now might be the time to onboard to Loopring Layer 2.
-Endgame by Vitalik Buterin.
-Fanciful Endgame by Vitalik Buterin.
-The US Senate recently published a hearing on stablecoins, and the uses and risks involved with them.
-And more!
Read the full report here
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