Biweekly update on Ethereum DeFi ecosystem vol.53, 10th May - 24th May
$56B in DeFi, Robinhood launches wallet to MetaMask, The GameStop Wallet is here, Coinbase revealed a dApp wallet & browser on mobile, Bancor 3 is here, Compound Treasury receives S&P credit rating...
TL;DR
-$56.6B in DeFi this week, currently at ~ $56.59B, with Maker dominance 25.68%.
-The GameStop Wallet is here: GameStop has launched a digital wallet beta that will let users send, receive, and store cryptocurrency and NFTs through their web browsers.
-Robinhood is launching its rival wallet to MetaMask: Robinhood is taking the plunge into the nascent world of web3, announcing a new wallet application that allows customers to access non-fungible token markets, decentralized exchanges, and swap tokens.
-Coinbase revealed their new dApp wallet and browser on mobile: This new ability, to access and explore web3 directly from your Coinbase app, is powered by our new dapp wallet and dapp browser.
-Bancor 3 is here: The Ultimate DeFi Liquidity solution empowering DAOs and their token holders to drive healthy liquidity and access safer, more sustainable yields that are 100% protected from impermanent loss. How DAOs & token projects can use Bancor 3 to drive healthy liquidity.
-Compound Treasury Receives S&P Credit Rating: Compound Treasury received a B- credit rating from S&P Global Ratings. This makes Compound Treasury the first institutional decentralized finance (DeFi) offering to be rated by a major credit rating agency, and signals tremendous progress in the crypto industry’s maturity, as traditional institutions begin to judge the risks of digital asset-powered financial offerings. Compound Proposals 104 ‘Update High-TVL cToken Implementations’, 105 ‘Grant request for launching Compound with Aztec Connect’, 106 ‘Risk Parameter Updates for 7 Collateral Assets’ have successfully passed. Find the latest Compound proposals here.
-Read in the latest Yearn Finance Newsletter #62: V3 vaults are coming; New Yearn watch site; Yearn allowlist; People of Yearn : Corn; Yearn wants to buy your YFI; Vaults at Yearn; Ecosystem news. ⍺ DeFi Alpha: Earning Yield on ETH with Yearn’s stETH Vault: this week’s DeFi Alpha with a step-by-step tutorial on earning yield in stETH-WETH vault.
-A quick primer of ERC-4626: ERC-4626 Vaults are coming to DeFi, and before mStable goes into why they are potentially game-changing, check out a quick primer about the standard and why it was developed in the first place. mStable Governance Updates — 9 May 2022: Dear governors, here’s the latest edition of governance updates from the engine room. Check out mStable’s latest proposals here.
-Lens Protocol, Aave’s plan for decentralized social, went live on Polygon recently. Latest Aave News: Say Hi and get swag at Permissionless, grants renewed, Minke AMA, vote to freeze UST, & more. Follow the Aave governance forum.
-This week’s Gnosis biggest news is the passing of a proposal that aims to deploy Uniswap v3 on the Gnosis Chain. Gnosis Chain Weekly · 13 May 2022: xDai stable coin remains stable in a tumultuous market. 3-minute stablecoin overview with Kila from QiDAO. GNO total supply reduced to 3,000,000, a 70% reduction. GnosisDAO and host T Wells held an AMA with Sonali from DeFiYield. New GnosisDAO GIPs and Snapshot Votes. Project updates from BwareLabs, Swapr, Gnosis Monkeys, Tachyon Accelerator, Tokenview, and more.
-A couple of sturdy ideas to build with UMA at HackMoney2022 and beyond: The team at UMA shares here a couple of sturdy ideas for hackers to use to build on UMA at the event or beyond, including a zero-slippage, gas-less optimistic DEX and token floor price guarantees using KPI options.
-dYdX mobile app is now live. TRX now live: TRX (TRX-USD) Perpetual Contract market is now live.
-Maple Finance comes to Enzyme: Enzyme is now able to support lending on Maple Finance. This gives Portfolio Managers within the Enzyme ecosystem some exciting new yields to monetize. Are you charging performance fees on Enzyme? This is a must-read for you. This new Enzyme feature will obliterate your Ethereum gas fee concerns. Check out MFP: Enzyme Funding Proposals here.
-The GameStop Wallet is integrated directly with Loopring L2, giving users another way to onboard directly to Layer 2 seamlessly from your browser.
-GameStop’s new crypto wallet is using 0x API to power swaps. 0x Ecosystem Update #18: Highlights, network insights, and news from across the 0x ecosystem — March / April 2022. 0x Ecosystem Spotlight: Prysm: An interview with Prysm, the easiest way to collect NFTs as a team.
-The Synthetix Mirarch release took place. Synthetix Steps into the Ring — First Athletic Sponsorship: Synthetix is stepping into the ring with its newest Spartan, Linn Sandstrom, an Australian female boxer with a story of her own to tell. They’re sponsoring @SandstromBoxer, in her fight for the WBC Australasia Title.
-1inch takes leadership in the DEX segment: Since early May, 1inch has become the leader in the DEX segment, outperforming, among others, Uniswap, the largest DeFi project in user numbers. 1inch’s cumulative Merkle drop tool: an overview: The tool facilitates multiple token airdrops, making the distribution cheaper and more efficient.
-Balancer V2 anniversary: It’s been one year since Balancer V2 launched. The latest Balancer Report is here.
-Introducing KyberSwap’s Referral Campaign: $2000 in KNC rewards up for grabs when you share. KyberSwap Product Update: Pro Live Chart. Find out all Kyber proposals here. Check them out on GitHub.
-A new entry point to the Uniswap Protocol is here. Now you can access the Protocol and other popular dapps- directly in the Coinbase app. Congratulations to everyone at Gnosis Chain and Moonbeam Network. The proposals have passed and Uniswap v3 will be deployed on both chains. The latest Uniswap proposals are here.
-The State Of The Raiden Network: Reflections on origins, progress & future.
-Ren Development Report: A brief update on all the progress made and things to come. REN digest #1 — May 2022.
-Alchemix discussed tokenomics: The general outline of their vision with the rest of the DeFi community.
-Cloudflare recently announced that they’re experimenting with Web3 and Ethereum: Ethereum and IPFS gateways are publicly available to all Cloudflare customers for the first time.
-A16z published their report on the state of crypto and web3 for 2022.
-And more!
Read the full report here.
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