Biweekly update on Ethereum DeFi ecosystem vol.40, 12th October — 26th October
$87B in DeFi, Balancer and Gnosis launch the Balancer-Gnosis-Protocol (BGP), KyberDMM launches Dynamic Trade Routing, Ren Labs was announced to spearhead the next stage of Ren Protocol, and more
TL;DR
-$87B in DeFi this week, currently at ~ $87.2B, with Aave dominance 18.85%.
-Altair Mainnet Announcement: The first network upgrade for the eth2 Beacon Chain, Altair, is scheduled to go live this week on October 27th.
-mStableDAO rebranding & Q3 Treasury report: Next steps for the DAO & mStable in numbers. mStable partners with Badger DAO: This mutually beneficial DAO to DAO loan is the first of its kind. Also, the team announced a partnership with Visor Finance enabling management of treasury assets and MTA — ETH liquidity positions on Uniswap v3. Check out mStable’s latest proposals here.
-DeFi on the Ballot: Yearn Developer Matt West Is Running for Congress: On Oct. 12, Matt West declared his candidacy for Oregon’s newly formed 6th U.S. House district. West holds a Ph.D. from the University of Texas in chemical engineering with a focus on renewable energy, and works at tech giant Intel on manufacturing. yAcademy’s first block has just ended.
-Tesseract live on Polygon: Tesseract is the first project hatched from YFI Combinator. It leverages the expertise amassed at Yearn to bring the best yields to a wider audience on Polygon.
-Latest Aave News: Community Call 5, Building Season, and DeFi 3.0. Follow the Aave governance forum.
-Find the latest Compound proposals here. Proposal 65 Correct Over-Accrued COMP successfully passed on October 19th, 2021. News in the latest Compound digest: Compound Treasury Updates, COMP Bug Fix, Dynamic Risk Parameters. New Messari’s Q3 Quarterly Report for the Compound protocol is an essential read; transparency, metrics, and reporting on the state of Compound. Check it out!
-London Hard Fork, including EIP-1559, will be activated on the xDai Chain on November 11th. xDai Weekly Newsletter October 22, 2021: Live from Lisbon.
-On October 14th, dYdX cumulative volume has now passed $100B. dYdX has $188M depth on BTC perp within 14 bps. For a limited time, all new dYdX users are eligible to receive a 75 USDC deposit bonus after depositing at least 1K USDC. How A 19-Person Cryptocurrency Startup Surpassed Coinbase In Daily Trading Volume: Great coverage from Forbes on dYdX.
-Balancer Labs and Gnosis announce the official launch of the Balancer-Gnosis Protocol. The Balancer — CowSwap integration is live. CowSwap is now integrated in Balancer natively, head over to balancer.fi for better prices and MEV protection. Balancer Labs publishes community updates. The latest Balancer Report is here: Highlights include Mainnet V2 TVL which now sits at $1.62B (a new record!) from $1.51B last week.
-Gnosis Safe live on Arbitrum: This critical piece of infrastructure will allow more projects that require multi-sigs to deploy on Arbitrum. The Balancer-Gnosis-Protocol (BGP) has been introduced. Find out the latest GnosisDAO proposals here. Join Gnosis teams and other leading DAO projects, tooling and frameworks for DAO Global Hackathon. Starting this Monday, October 25.
-Sherlock has integrated with UMA’s Optimistic Oracle [OO]. Sherlock offers DeFi exploit protection. Users can buy coverage or earn high returns by selling protection. Partner Spotlight — Volatility Protocol | Working with UMA: UMA’s Growth Strategist, Chandler de Kock, sat down with Volatility Protocol’s Co-Founder and Head of Research, Wade Kimbrough, to talk about the launch of their new KPI option and what it’s been like working with UMA’s DAO management tools.
-KyberDMM launches Dynamic Trade Routing: aggregating liquidity for better token rates: Users can now source liquidity across different decentralized exchanges to help achieve the best prices for any token swap, on any supported network. KyberDMM DEX brings capital efficiency and the best token rates to Fantom: DeFi’s first Dynamic Market Maker will enable better prices for traders and higher capital efficiency and returns for LPs on Fantom. Find out all Kyber proposals here. Check them out on GitHub.
-Find the latest Index Coop proposals here. DPI / ETH pool rewards are now live on Quickswap. DPI / ETH Pool on Quickswap Now Earning $QUICK Rewards: A step-by-step guide on how to acquire and stake your DPI-ETH Quickswap LP position. The INDEX pool is live on /bancor.network. Index Products: A Glossary of Terms. Why the “Flexibility” of FLI Products Matters. Conversations with the Coop — Max Fiege — Barnbridge.
-A proposal to increase Bancor’s vBNT burner rate from 10% to 15% has passed and was updated in the protocol. Latest proposals. The Bancorian | A Weekly Summary-October 17th 2021: This is a weekly publication where the team covers dev, ecosystem, social media, governance, and community updates. The INDEX DIP SPELL pools are now live on bancor.network. Check out the gas reduction roadmap Bancor has lined up in the build-up to and post BancorV3.
-A Recap of 2021 Achievements & Activities: An update on the Enzyme ecosystem and a summary of achievements so far this year. DAO Governance & Tooling 2.5 years on…: Mona El Lisa shares some of the challenges the project has faced as a DAO. Check out MFP: Enzyme Funding Proposals here.
-Latest Uniswap proposals are here.
-UniSync released: UniSync is a port of the Uniswap v2 smart contracts and frontend running on Matter Lab’s zkEVM rollup.
-The Synthetix Kaus release: On October 19th, the Kaus release began, implementing a minor upgrade on both L1 and L2. It included SIP-187 — Fix Partial Synth Updates In Debt Cache: Fixes an issue with partial updates of synths in the debt cache which is causing the cached debt value to not update after minting and burning sUSD. Moving Tokens Between Ethereum Mainnet and Optimism. Chainlinked Podcast | Kwenta Core Contributor Andrew Trudel. SNXweave Weekly Recap.
-The Future of Ren: With the deployment of host-to-host transactions, the original vision for RenVM will be feature-complete, and with the Greycore slowly but surely expanding, RenVM is well on its way to becoming more and more decentralised. The team announces Ren Labs, a new organisation focused on the next phase of Ren: the growth of a third-party application ecosystem. One that is built directly on top of RenVM and its assets. Ren Labs will take on two primary mandates: continuing the development of RenVM into its own L1 that can directly support an application layer, and to explore building applications that are independent of RenVM, but that are built directly on top of it, or that use its assets.
-SushiSwap recently increased liquidity mining efficiency by 5x, and also added $300M in daily volume with the Gauntlet platform.
-Connext Explorer unveiled: Connextscan is a community project built by the CoinHippo team that gives a real time view into the Connext network.
-Arbitrum Nitro sneak preview: Arbitrum Nitro is the next iteration of Arbitrum, which the team has been working on for months. It’s built on standard technologies like WASM and Geth, so it’s more EVM-compatible, an order-of-magnitude faster than the current tech, and adds another 0. When it’s ready it’ll be deployed as a seamless upgrade to Arbitrum One.
-Futureswap V4 mainnet beta now live: Trading is now 90% cheaper with trades executing in ~0.05 seconds as Futureswap v4’s beta is now live on Arbitrum.
-XDEFI wallet now live: This new browser-based wallet comes with features such as ‘Ape Mode’, EIP-1559 optimizations, fiat on-ramping and more. Do note that the wallet code is not yet open source.
-Pods now live on Ethereum mainnet: Pods is an on-chain options protocol that aims to bootstrap markets for any ERC20 using an algorithmic pricing and a specific options AMM.
-Oasis integrates Flash Mint Module: Multiply on Oasis now uses the Maker Protocol Dai Flash Mint Module which will allow users to save up to 30% in fees.
-WalletConnect updates: New domain & website, WalletConnect Cloud live, v2.0 of the protocol is coming and more.
-Royalty Registry introduced: The goal of the Royalty Registry is to make it easy for marketplaces to use the appropriate on-chain royalty configurations and to make it possible for contracts that did not originally support on-chain royalties to add them.
-Element Finance raises $32 million: The Series A round was led by Polychain Capital and includes previous investors Andreessen Horowitz, Placeholder, A_Capital, and Scalar Capital. New investors in the round include Advanced Blockchain, Republic, Rarestone, Yunt Capital, P2P Validator, Ethereal Ventures, and their limited partners; and Femboy Capital.
-Timeswap raises seed round: The round was led by Multicoin Capital, Mechanism Capital & Defiance Capital with participation from others.
-Polynomial Protocol raises $1.1 million: The pre-seed round was led by Acrylic, accompanied by Genblock Capital, and Caballeros Capital with participation from various angles.
-And more!
Read the full report here.
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