Biweekly update on Ethereum DeFi ecosystem vol.28, 13th April - 27th April
> $61B in DeFi, Loopring announces Ethport, FAANG equity Synths now live, Balancer V2 smart contracts are here, Augur Roadmap 2021 is out, mStable launches on Polygon, Nexus Protocol Cover is live...
TL;DR
-More than $61B in DeFi this week, currently at ~ $61.41B, with Maker dominance 15.86%.
-Loopring announces Ethport: Ethport is a solution to help with fragmentation between layer 1, layer 2 and centralized exchanges. Loopring L2 Liquidity Mining: Round 6.
-The Alnilam release: Synthetix was releasing new equity and cryptocurrency Synths. Equity Synth pool incentives are now live on Balancer: With the launch of the new equity Synths — sFB, sAAPL, sAMZN, sNFLX, and sGOOG — the synthetixDAO is incentivizing liquidity pools on Balancer for each of these assets for the next five weeks. The FAANG equity Synths and sTSLA are now live for trading. Three new DeFi Synths have been added to the Synthetix Protocol. You can now trade sCRV, s1INCH, and sRUNE. Spartan Council members are now voting on SIP-125. By voting in favor of this proposal, they will support the addition of global stock indices such as the S&P500, NASDAQ100, and RUSSEL2000. ETH and renBTC loans are now on Staking: Borrow against ETH and renBTC on Staking.
-Balancer V2 smart contracts now live: The contracts are now live on the Ethereum mainnet and developers can start leveraging them today. Flexibility and Custom Trading Curves in Balancer V2: Element Finance writes about how they are utilizing Balancer V2. A Primer on Fair Token Launches and Liquidity Bootstrapping Pools. The latest Balancer Report is here.
-Augur Roadmap 2021: Here is an updated near-term roadmap. It includes project name, status, expected work, and open questions that the team will need to investigate for project success.
-mStable is now live on Polygon: Say hello to mUSD, mBTC, Save and Swap on Polygon! Recently, mStable announced algorithmic rewards: Rewards are now being distributed dynamically to imAsset vaults and feeder pools, based on their performance in the previous week. mStable x HAL — bringing automation to mStable:The team announces the partnership with HAL as their first community grant recipient. The HAL team helped them develop a set of automated Twitter bots and a broader set of automation tools that offer the community ways to seamlessly track and react to significant events happening across the mStable stack.
-The Yearn Finance team shared their quarterly report for Q1 2021. Yearn Token List introduced: It uses an open format pioneered by Uniswap and contains up-to-date token metadata for all Yearn products. YIP-61: Governance 2.0 voting is live. In the last Yearn Finance Newsletter #30: Yearn has purchased an additional 29.97 YFI for $1.1M; total value locked has surpass $3B; discussion on our forum regarding governance 2.0; Badger WBTC Vault powered by Yearn; sBTC yVault migration; three v2 yVaults coming to C.R.E.A.M.
-Nexus Protocol Cover now live: Protocol Cover is more broad and flexible because it covers everything from Smart Contract Cover plus events related to oracle attacks, severe economic attacks and governance attacks.
-Operation Wartortle detailed: Operation Wartortle has been launched with the goal of sunsetting the legal entity behind Nexus Mutual, which would remove the requirement to KYC for NXM token holders.
-AIP-16 received overwhelming support from the community and has officially been executed. This proposal introduces liquidity mining incentives for Aave V2. Aave Lending V2 is now integrated with DeFi Earn. Latest Aave weekly.
-News in the latest Compound digest: Compound grants funds batch 2, KeeperDAO introduces kCompound, Governance Updates. Proposal 43: Governance Analysis Period: Executed on April 18th, 2021. Proposal 44: Legacy market maintenance: WBTC and REP: is in the voting period.
-Introducing kCompound, a wrapper for the Compound lending platform that lets users deposit collateral and borrow assets as they normally would. However, kCompound loans are constantly monitored and protected by the KeeperDAO Just-In-Time Underwriter (JITU), which helps protect borrowers from liquidation.
-Dharma’s huge steps for mainstream DeFi adoption. You can now go from dollars to DeFi in the USA. Deposit up to $25k a week, directly from your bank, into Uniswap, Compound, Aave, Yearn and PoolTogether.
-The Liquidations 2.0 upgrade Executive Vote is live: Maker governance can now vote on the activation of the Liquidation System’s 2.0 upgrade, which should improve system efficiency and help safeguard Dai’s stability. An Executive Vote has been added to the voting portal to: Approve April 2021 Governance Cycle. The Governance Facilitators have placed a ‘Additions to Liquidations 2.0 Framework’ Governance Poll into the voting system on behalf of the MakerDAO Risk Domain Team. The community can vote in this poll to express support or opposition to these polls on the voting portal.
-xDai weekly recap focuses on listings, protocol updates, projects & more.
-dYdX just passed $300M in total trading volume on the Layer 2 cross-margined Perpetuals powered by StarkWare. SOL-USD and SUSHI-USD Perpetual Markets are now live on Layer 2 Over the upcoming months, the dYdX plans to add 1–2 additional markets every week from sectors such as decentralized finance (DeFi), emerging Layer 1 blockchains, and more.
-UMA’s ICYMI #11 & ICYMI #10 were published. uLABS: CryptoPunks Synthetic Token — uPUNK: First synthetic NFT index token will be live soon. BAL and UNI join the Call Options party: Building Call Options on UMA (Part 4). Check out the Talent Referral Options Program.
-Build your own Curve Farming strategies & more on Enzyme today: A selection of Curve pools are now available on Enzyme. The Enzyme team has just added a new wave of assets to Enzyme: sAMZN, sAAPL, sFB, sNFLX, sGOOG as well as sRUNE, s1inch, sCRV all live now for trading. Techemy Capital launches a second product on Enzyme: the Managed DeFi Portfolio. Read more about it here.
-1inch liquidity mining programs extended: The main program will run for four more weeks, from April 14 through May 12. How 1inch protects users from front-running: A unique feature, ‘virtual rates’, protects users making swaps on 1inch from front-running attacks. 1inch has integrated Balancer V2 liquidity into their aggregator. 1inch has integrated PancakeSwap V2. Kwenta has integrated 1inch Network.
-xBNT is Live: Auto-Compounding Liquidity on Bancor Pools: xBNT is a set-and-forget staking solution built by the xToken project that provides automated yield optimization on Bancor liquidity pools. Guide to Bancor Limit Orders: Bancor now supports limit orders using KeeperDAO and 0x Protocol. Moreover, Bancor DAO firing on all cylinders with a bunch of proposals arrived.
-Kyber Ecosystem Report March ’21: The team has now launched the Kyber Dynamic Market Maker on mainnet, the KyberDAO has approved the KNC migration and is in the process of voting on the upgrade of the KyberDAO itself, they’ve released the Layer 2 rollup research, and a certain KyberSwap team announced the upcoming launch of a fully featured brand new wallet called Krystal. KNC Token Migration Guide: KNC Migration Process began on Tuesday, 20th April.
-Attention everyone building on top of Uniswap v3: Uniswap v3 core and periphery contracts have been deployed to all major Ethereum testnets. Ropsten, Rinkeby, Kovan, and Goerli smart contract addresses can be found here.
-BadgerDAO Integrates RenVM: A one-stop-shop for BTC in DeFi. Bridge your BTC to DeFi and earn, with nearly $6,000,000 in user rewards up for grabs. The Ren Report #3 is out.
-In case you missed the Raiden workshop for the Scaling Ethereum hackathon, you can check it out here. Fresh Raiden Weekly is out. Update 167 covers: scenario runs are green for the Python client; Bespin alpha release testing to begin; Matrix transport support in Light Client.
-Coinbase goes live on the Nasdaq: Coinbase shares closed at $328.28 in their Nasdaq debut on Wednesday, giving the cryptocurrency exchange an initial market cap of $85.8 billion on a fully diluted basis.
-ConsenSys raised $65 million: The round had participation from J.P. Morgan, Mastercard, and UBS invested alongside Protocol Labs, The Maker Foundation, Fenbushi, Greater Bay Area Homeland Development Fund, The LAO, and more.
-Alpha Homora v2 relaunch detailed: The relaunch will include many innovative features for all lenders and leveraged yield farmers out there in the Alpha ecosystem.
-Instadapp launches Refinancing Bridge: You can now migrate your L1 debt positions to Aave on Polygon in a single click and enjoy powerful DeFi functionality at fractions of a penny.
-Scalar unveiled, a microtransaction solution built on Connext Network’s Vector for fast & cheap query fee transactions in The Graph Network.
-Zapper Learn unveiled: Zapper Learn provides a wealth of resources including DeFi basics, tutorials, and alpha leaks.
-Layer2.Finance mainnet launches: Layer2.finance is a novel solution that allows people to access all existing DeFi protocols at a fraction of the cost by acting like a “DeFi Public Transportation System”.
-MEME v2 now live: MEME v2 is a rebuilt NFT discovery and farming platform that includes many new features.
-Argent Vault detailed: The Argent Vault is more secure, more simple and has cheaper gas than the regular Argent experience.
-StakeWise updates: StakeWise have enabled trustless staking for new deposits, their token contract has been deployed and the airdrop has been detailed.
-Introducing the Maple LBP: Maple will be distributing its governance token MPL through a Balancer Labs Liquidity Bootstrapping Pool on April 28, 2021.
-Convex Finance introduced, a new platform, built by DeFi Natives, to simplify your Curve-boosting experience to maximize your yields.
-DeFi Saver introduces Recipe Creator: The Recipe Creator allows users to combine any number of actions from different DeFi protocols, as well as flash loans and swaps into a single transaction.
-Ethereum Devs Building DeFi | Preston Van Loon and Will Villanueva on Bankless.
-The SEC and DeFi | Hester Peirce on Bankless.
-Bull Market, Bear Development.
-Unlocking Capital Efficiency: A DeFi User’s Journey Through Element.
-Understanding Automated Market-Makers, Part 1: Price Impact.
-Upending the FIRE Game Through DeFi Stablecoin Yield Farming.
-And more!
Read the full report here.
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