Biweekly update on Ethereum DeFi ecosystem vol.42, 9th November — 23rd November
$104B in DeFi, ConsenSys raises $200M, DAI Wormhole detailed, Aave Arc introduced, AugurDAO introduced, Yearn tokenomics revamp, Uniswap Protocol shows off new branding, and more!
TL;DR
-$104B in DeFi this week, currently at ~ $104.2B, with Maker dominance 17.84%.
-ConsenSys raises $200 million: ConsenSys has raised $200 million tipping its valuation to over $3.2 billion, according to an announcement. Its investors include HSBC, Coinbase Ventures and Marshall Wace. ParaFi and Thirdpoint also invested in the raise.
-Yearn has delegated 23 million veCRV to Convex Finance using the new native boost delegation feature of Curve Finance. Read in the latest Yearn Finance Newsletter #49: Yearn tokenomics revamp, Yearn Millennium Prize, Yearn total value locked reaches $6B, YFI Combinator’s first project: Tesseract, Messari publishes a report on Yearn, Yearn Treasury status, Yearn devs save Robo vault from $50M loss, $2M paid to Yearn partners, vaults at Yearn, ecosystem news. YIP-64: Adjust fees on non-stablecoin yVaults.
-Introducing Aave Arc has been introduced. It is a permissioned market based on the Aave V2 market. In the spirit of innovation and experimentation, Aave Arc creates a web3-native experience for financial institutions to harness the power of DeFi in a permissioned sandbox environment. Latest Aave News: Aave is multi chain, new liquidity mining proposal, & multi token liquidity incentives. ARC: Raise AMPL’s max interest rate. Follow the Aave governance forum.
-Introducing: AugurDAO: The Foundation has teamed up with DXdao, an existing DAO which governs products such as Omen,a decentralized prediction market platform based on Gnosis’ Conditional Outcome Tokens, and Swapr, a governance-enabled DeX. DXdao already has over 400 unique addresses participating in their governance system, and has shown the ability to build and scale DAOs in the real world. AugurDAO will use DXdao structures, but will be governed by REPv2 holders in which they will ultimately decide how to allocate future resources to further the development of Augur and decentralized prediction markets as a whole. The AugurDAO community will engage and communicate in the DAOTalk Augur sub-forum and the currently existing Augur discord.
-News in the latest Compound digest: Gauntlet risk management dashboard, Coinbase earn COMP update, governance updates. Proposals in the voting period: Proposal 071 ‘Risk Parameter Updates for DAI, BAT, ZRX, and ETH’ and Proposal 070 ‘Security Solutions For Compound Governance’.
-Dharma partners with Klima DAO on their mission to fight climate change. Meanwhile, the Dharma team is working on some new features for the Dharma wallet.
-Uniswap Protocol shows off new branding: The brand update creates separate visual identities between the Uniswap Protocol and Uniswap Labs, further defining the function, responsibilities, and governance of each. Uniswap adds 0.01% fee tier: Pools can now be created on Uniswap v3 using the new 0.01% fee tier — perfect for stablecoin pools. How to manipulate Uniswap’s TWAP oracles — Michael Bentley. Latest Uniswap proposals are here.
-DAI Wormhole detailed: The DAI Wormhole will allow users to teleport DAI between L2s while being fast, cheap, and secure at the same time.
-xDai reportedly wants a Gnosis merger to stay more relevant among competitors. However, token holders are pointing out that Gnosis’ terms are going to result in a hostile takeover if the deal goes through. xDai Weekly Newsletter November 19, 2021: 03 Labs announced an xDai integration. The Brave team introduced a native wallet for their ecosystem, potentially bringing in many new crypto users. xDai can be easily configured for Brave, just as it can for MetaMask. Instructions here. DeFiYield dashboard now supports the xDai network.
-mStable partners with OlympusDAO on their Treasury Bond Program: Following a successful governance vote, mStable announced that it is part of Olympus Pro Cohort 3 launch partners. Open mStable Development Snowball: mStable have partnered with Instadapp on the Developer Snowball bounty to integrate mStable into Instadapp. mStable have partnered with Idle finance on a matching bounty to develop a strategy for Idle Perpetual Yield Tranches supporting mStable Save. mUSD/USD now available for full trading on Coinbase Pro. Check out mStable’s latest proposals here.
-The ZRX token recently went live on dYdX. The 10-day long timelock delay for DIP 3 — Safety Module Restoration is now complete. The DIP was executed on chain. Chainlink Tech Talk #3: dYdX.
-GIP-15: Governauts Rewards Systems Research Initiative has been accepted. Find out the latest GnosisDAO proposals here. Safe Optimised dApps: Saving you time and money when interacting with Web3.
-Introducing milestone KPI options: It is now possible to create a KPI option that unlocks when you reach your goal. Previously, they would only unlock at a specified maturation date. Listing Proposal: Add UMA as collateral to lend/borrow on Aave.
-Enzyme tutorials about the protocol, MLN token are now live on Coinbase earn program. Check out MFP: Enzyme Funding Proposals here. This week’s news. Enzyme as a Treasury Management Tool for DAOs.
-The Synthetix Alkaid Release: On November 16, the Alkaid release implemented some upgrades on L1 only. Here’s what’s included in this release — SIP-120: Atomic Exchange Function: This SIP creates a new exchange function allowing users to atomically exchange synths via TWAP Uniswap oracles secured by Chainlink oracles.
-0x API is now available on Celo, aggregating liquidity across Ubeswap and Sushiswap. The team launched support for 0x API on Celo alongside 0x initial partners Matcha, DexGuru, DexKit, Metric Exchange, Zapper, and Zerion. Check out the documentation and start building on Celo with 0x API today.
-The road to decentralization: This article marks the official start of 1inch Network governance implementation stage 2. The 1inch Router v4 is rolled out: In version 4, separate routers have been added for Uniswap v3, Clipper and the RFQ feature of the 1inch Limit Order Protocol. The 1inch Foundation releases $585,000 to grantees. The 1inch Foundation announces Black Friday Week. Anton Bukov, 1inch Network: “Limit order protocols offer more flexibility and efficiency to DEX traders’’. How 1inch ensures the security of users’ funds.
-The latest Balancer Report is here. TrueUSDl launches TUSD stablepool with Polygon on Balancer Protocol. Record-Breaking Liquidity Bootstrapping Pool by Merit Circle Reinforces Balancer LBPs as Cornerstone of Decentralized Growth: How Balancer Protocol’s Liquidity Bootstrapping Pools (LBPs) Bring Projects To Life. What Is Miner Extractable Value?
-Elpis Battle (EBA) has chosen KyberDMM DEX for enhanced token liquidity on BSC! ~$1M+ in liquidity mining rewards. Add Liquidity on KyberDMM Pools with a Single Token Deposit. Find out all Kyber proposals here. Check them out on GitHub.
-Coinbase Wallet is now a standalone extension: Users can now browse dapps, access thousands of cryptocurrencies, trade on decentralized exchanges (DEXes), earn interest, and collect NFTs, all by using the new Coinbase Wallet browser extension.
-MetaMask and Ledger integration fixed: The teams have built a new Ledger + MetaMask integration on Chrome and the integration now works seamlessly again.
-Connext Ecosystem Grants Program announced: The Connext Ecosystem Grants Program’s aim is to fund promising individuals and projects to build and contribute to growing the network. Connext adds Optimism: Users can now instantly transfer assets to/from Optimism directly from other L2’s and sidechains using Connext.
-Across Protocol live on mainnet: Across Protocol makes it possible to bridge USDC, ETH, and UMA from Arbitrum back to L1 Ethereum with more networks coming soon.
-Maple Finance offers syndicated loans: DeFi platform Maple Finance has created another permissioned lending pool, one designed to make it easier for institutional investors to lend money.
-PSP token introduced: The PSP token is the native governance token of ParaSwap — a decentralized exchange aggregator.
-Introducing SDL: SDL is the governance token for Saddle DAO which manages the Saddle Finance protocol.
-Introducing DeFrag: DeFrag is a decentralized non-custodial liquidity market protocol where borrowers can use NFT assets as collateral.
-The Bancorian | A Weekly Summary-November 14th, 2021.
-Raiden Pulse #19: The 19th edition of the Raiden Pulse is out.
-A new mental model for Defi treasuries.
-How Ethereum will change the world.
-Ethereum will reduce its energy use by 99.95% with the switch to PoS.
-Ethereum Roadmap Update | End of 2021.
-The SEC recently made a statement on November 9th about DeFi, and its risks, regulation, and opportunities.
-Brian Armstrong and The Future of Coinbase on Bankless.
-Coin Center: The Current US Regulatory Landscape for Crypto on Epicenter.
-And more!
Read the full report here
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