Biweekly update on Ethereum DeFi ecosystem vol.15, 30th September - 14th October
11B TVL milestone, 0x showcases API for gas efficiency, Aave kicks off token migration, Curve implements zkSync, Set announces Index Cooperative, YAM roadmap update, DeFi Pulse Economic Safety Grade..
TL;DR
-0x announced a new version of 0x API’s swap endpoint. The team is working with MetaMask to bring 0x API to over 1M MetaMask users globally. Forby, Matcha claims it has the best prices, adjusted for transaction fees.
-Curve implements zkSync: The Matter Labs and Curve revealed a zkSync layer 2 smart contracts testnet with Curve Finance as the first resident app. Check out the live demo here. Check out Curve Vulnerability Report by Peter Zeitz.
-Aave raises $25 million to bring DeFi to institutions: Aave CEO Stani Kulechov says the investment will help Aave expand in Asian markets and “bring DeFi closer to institutional use.” The investment comes from Blockchain Capital, Standard Crypto, and Blockchain.com ventures, among others. The gteam also introduced Tinlake v3 and Revolving Pools, a system that will allow real-world assets (RWAs) to flourish within the Aave protocol.
-DeFi Saver now supports Aave: You can now enable automatic liquidation protection and leverage increase on Aave using DeFi Saver.
-Set Protocol and DeFi Pulse team up to launch a community-owned index protocol backed by a new governance token. The Defi Pulse Index now has a market cap of over $12.5 million.
-The DeFi Pulse Economic Safety Grade introduced. It allows users to more easily quantify and compare the risks they face using on-chain protocols.
-The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents polls to implement adjustments to the Base Rate, add BAL and YFI as collateral, and more. Check out Maker Governance Review: September 2020 and Making Maker: September 2020. Kleros and Maker are opening up a spot for a researcher in decentralized finance. Maker CEO Rune Christensen talks Dai and DeFi in ten popular videos.
-Compound Labs’ Developer Relations lead recently published A Walkthrough of Contributing to the Compound Protocol, a step-by-step guide to proposing and implementing changes to the Compound smart contracts. Since the last newsletter, Proposals 24 Set WBTC Collateral Factor to 60%, 25 Add UNI Support and 26 Uniswap Improvement Strategy passed through Compound Governance with wide voting margins. Proposal 27 to Add COMP Support is in the voting period. In light of the CFTC and DOJ serving charges against BitMEX, Compound Labs CEO, Robert Leshner, explains why regulators may embrace the transparency and accountability of DeFi protocols.
-Uniswap crosses $2B in value locked.
-Read Yearn Finance Newsletter #6 covering an update from Yearn developer Andre Cronje, Curve strategy vulnerability patched, yInsure competition submissions, community created front-end for governance rewards, a new home for YFI Pulse, Yearn state of the vaults, governance updates, ecosystem news.
-The mStable community recently voted in favour of adding sUSD as an mUSD basket asset. It also voted to delay doing so until sUSD is at peg for 1–2 weeks. mStable @ ETHOnline: mStable is participating in ETHOnline as a sponsor this year. Guide How to obtain mUSD: In this article, the team walks through several ways a user can obtain mUSD. Read why the team forked Curve’s math for voting weights.mStable joins Messari Disclosures Registry.
-Limit Orders are live in Dharma with free order creation and cancelation, support for any ERC20<>ERC20 pair in Uniswap. Dharma 2020 Q4 roadmap update: In this update, Dharma details what the next few months of development will look like for the project. The team has made the first proposal to Uniswap’s new governance system: reduce UNI governance proposal & quorum thresholds. The dToken Migration has been successfully completed.
-Starting Oct 1st 2020 fresh new POAPs are born on the xDai network blockchain and a bridge for collectors to move the POAPs to the Ethereum mainnet is going to be released soon. Read the full update for all the details. Aragon One has released a governance proposal to discontinue efforts with Aragon Chain and instead focus on off-chain solutions and community efforts like xDAI. Over 50 different ERC20s have been bridged from Ethereum Mainnet to the xDai chain using the OmniBridge. Fresh xDai weekly recap is here. These weeks, xDAI turns 2 years old. Congrats to the team!
-Augur: foundry.finance to easily provide liquidity to whether Trump will win, and a Uniswap-like interface for end users to predict Trump or Biden.
-Gnosis Safe Multisig now supports WalletConnect: Users can now link their Safe Multisig to any dapp using WalletConnect, including Uniswap, MakerDAO, Aave and many more. Gnosis prizes, presentations and workshops @ ETHOnline 2020.
-BNY Mellon has deployed a team of lawyers to pursue taking the Melon name away from the community. Coinbase Custody now supports deposits and withdrawals for Melon ($MLN).
-1inch passed 4 billion in volume. The team announced a new pathfinder release. Their API is now using only pathfinder for best rates and high efficiency. 1inch.exchange is now a part of MetaMask Wallets. 1inch integrated Shell Protocol. Meet 1inch team: Sergej Kunz, co-founder and CEO.
-Balancer is launching on Coinbase Pro. AMPL Smart Pool on Balancer is now live. Aragon and Balancer partner to add onchain governance to snapshot.
-Kyber’s new Strategy detailed: Kyber put together this strategy update to share some thoughts with the community regarding how they perceive the current environment and elaborate on their plans for Kyber moving forward. Check out Kyber Ecosystem Report #19.
-The Loopring team successfully submitted L2 AMM add liquidity, remove liquidity, & swap transactions using Loopring 3.6 on Ethereum’s Goerli network. They’ll add a few features, optimize gas consumption, test corner cases, & do lots of stress testing before a mainnet beta launch in Q4.
-Check out the latest Raiden Weekly. Update 139 covers the following topics: ETHOnline Raiden workshop, Raiden services are now compatible with the latest Synapse version, new features and functionalities are coming soon, and more.
-Second OVM L2 testnet SNX distribution: The Synthetix team has launched the second phase of our Optimistic Ethereum trial with OptimismPBC. In this phase, they will be trialing the migration from L1 to L2 and expanding the number of users that can participate. Biotite product release: The Biotite product release is now live! Here are all the dApp updates and improvements for this week.
-Chainlink Brings Onchain Proof of Reserve to RenVM: Ren collaborates with Chainlink on the new Proof of Reserve oracle for all RenVM based assets. This is a big step forward in transparency for the Ren Ecosystem, along with a great tool for DeFi when verifying RenVM’s proof of reserves. RenVM is bringing Terra to Ethereum & DeFi LUNA. Ren (REN) is launching at Coinbase.com
-YAM Roadmap Update: The YAM team provides a roadmap update covering 4 key areas — protocol, treasury, ecosystem/community, and organization.
-Alpha Homora Announced: Alpha Homora is a protocol for leveraging your position in yield farming pools, or “dYdX for yield farming on Uniswap.”
-Introducing Catnip: Catnip is built on Augur and hopes to deliver a prediction market experience with less friction and more fun for everybody, including those new to the world of crypto.
-PieDAO announced the launch of their new DeFi+L index product, announced a liquidity mining program and put together a thread on Twitter that explains it all.
-IntoTheBlock adds DeFi metrics: This new release includes over 60 DeFi indicators which will provide analysis about different segments of the market such as lending or DEXs.
-ZeroSwap introduced: ZeroSwap is a layer-2 DEX based on Zk-Rollup technology and aspires to solve the DEX bottlenecks within DeFi.
-Snowball Money launched: The Snowball Money App is now available on both iOS & Android and it allows you to access yield farming with a yEarn integration and also has a fiat on-ramp.
-A new round of Dark Forest is live. Now spawn to safe spaces; uses burner wallets.
-Meet CoFiX, a next-gen automated market maker (AMM).
-Paradigm launches AMM division that will provide community engaging services to Orbs.
-Liquidity Delegated Governance and Crypto Economics, Perpetual Liquidity and IL offset by Andre Cronje
-In an interview with Coindesk, Plaid’s head of U.K., Keith Grose, describes the company’s vision for crypto and reveals that they are already working with DeFi firms like Dharma and Teller Finance, both of which have integrated the Compound protocol.
-Economists at Imperial College London published DeFi Protocols for Loanable Funds: Interest Rates, Liquidity and Market Efficiency, a paper that analyzes interest rates across Compound and other DeFi protocols.
-The Block’s Mika Honkasalo has published 37 DeFi charts that show the growth and evolution of popular protocols like Compound.
-Redefine 2020: A Primer. Where Decentralization Meets Finance
-The Definitive Guide to DeFi Taxes
-Uniswap, 1inch, DODO, dYdX, and Kyber
-BUIDLing with Options (oTokens) in DeFi Pt. 2
-How Ethereum is making finance weird
And much more!
Read the full report here.
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