Biweekly update on Ethereum DeFi ecosystem vol.16, 14th October — 27th October
Kyber introduces KyberPRO, PoolTogether launches v3, Bancor v2.1 activated, Kwenta is live, Gnosis Safe on xDai, Nexus Mutual updates, Q3 Melon recap, and much more!
TL;DR
-The Kyber team announced KyberPRO, an end-to-end framework for professionals to easily onboard and run a profitable market making operation on-chain with minimal smart contract knowledge. It provides a robust liquidity system, tools, documentation, and technical support to enable professional market makers to easily onboard to DeFi. Forby, Indorse (IND) Fuse Network (FUSE) Ocean Protocol (OCEAN) are now available on Kyber Network.
-Kwenta is live. Kwenta is a dApp built on the Synthetix protocol, allowing traders to gain access to a vast range of assets on Ethereum, including forex, commodities, cryptocurrencies, and indices.
-Phase 2 of Synthetix OVM Testnet Begins. The purpose of this second phase is to trial the migration from L1 to L2, which will be an important part of the eventual mainnet launch. Read a guide to this week’s product release, Calcite, with all the frontend updates pushed this week including an IPFS domain for Kwenta, Korean support, and more. Why Optimism? Synthetix founder Kain Warwick on Optimistic Ethereum.
-Nexus Mutual Updates: Founder of Nexus Mutual, Hugh Karp, provided a list of updates coming to the platform in the coming weeks and months in this Twitter thread. Furthermore, Nexus Mutual members have voted to accept proof of loss changes: claims must now be submitted with proof of individual material loss, acceptable proof = verified addresses, applies to cover #2992 and above.
-Yearn Finance Newsletter #8 is here, covering the following news: a new yVault has been created for Gemini USD (GUSD); the team published an article discussing the Yearn ecosystem and ethos, which you can read here; a new yVault strategy was proposed by community member, gspoosi, on the governance forum. The initial proposal can be found here. BitMEX Adds YFI Futures You can read weekly synopsis regarding Yearn’s yVaults, including current strategies and upcoming changes here. Moreover, Andre Cronje published a few updates over the last weeks including a piece where he details his involvement in DeFi, a new tool for launching governance tokens, and an experimental impermanent loss offset product.
-Read in the latest Compound newsletter: COMP is added to the protocol as a supported market; Developer Community Calls begin (join on Wednesday!); Coinbase adds new Earn educational content; Proposals 26 and 27 passed through Compound Governance with near-unanimous support.
-AAVE is now available to be deposited and used as collateral in the Aave Market. Also, UNI is now listed in the Aave Market. Aave integrated in OUSD to increase and diversify the DeFi yield Origin Protocol. Stani Kulechov featured in a few public talks.
-The Dharma team has submitted Proposal 2 “Retroactive Proxy Contract Airdrop — Phase One” to Uniswap Governance. Dharma’s Gas Use Policy is changing: Smart Wallet setup and recovery paid by Dharma; swaps >500 USD paid by Dharma; swaps <500 USD paid by users; all transfers paid by users. Read more in this article.
-xDai weekly recap is here. Gnosis Safe multi-sig capabilities bring new security and interaction capabilities to xDai. Now users can create wallets and interact with contracts while requiring multiple signatures. It’s a big step for collaborators and asset management functionality from the expert team at Gnosis. Basic Safe Tutorials are here and on the Gnosis Safe website. Bridge governance is now active on both sides of the xDai Bridge. The team welcomes Perpetual Protocol to xDai. Check out a post outlining why they selected xDai as a scaling solution.
-PoolTogether V3 now live. The new version includes larger prizes by doing leveraged yield farming, users can earn rewards for holding tickets or referrals, more prize pools and much more!
-The dYdX engineering team is focused on building a Layer 2 solution for Perpetuals. They have also been busy on the marketing side. dYdX has participated in several AMAs & panels. Learn more about the products, decentralized trading, Layer 2, DeFi, & more in this thread.
-Q3 Melon update: This quarter the team has had a busy and productive time — they’ve been heads down working on v2 of the Melon Protocol which they’re now going to use as an opportunity for a little re-brand. It is coming in Q4 2020. Also, the team is on the lookout for a new name. They have also been responding to community calls to refine the tokenomics model.
-0x Developer and Governance Update — October 2020: An update on the new technical developments from 0x Labs and the 0x ecosystem. Several new tokens are now available on Matcha.
-BOND from Barn Bridge is now available on 1inch. SafePal Wallet has integrated 1inch within the SafePal Wallet app. Watch ETHOnline AMA w/ Sergej Kunz & Jessica Salomon.
-Voting on Bancor v2.1 is Live. Last week the Bancor team released the first-ever single-sided AMM pools. See the full step-by-step guide to single-sided liquidity in Bancor v2.1.
-Check out the latest Raiden Weekly. Update 140 covers: new development milestones, preparation for the release of version 1.2.0, new projects joined the Raiden grant program.
-RenVM has surpassed one billion USD in total volume. Fresh Ren Ecosystem Update covers topics from RenVM network stats, integrations, new Ren Alliance Members, community updates, milestones, new blockchain additions, and more.
-Check out freshly-published Guide: mStable SAVE — the Savings Account for the world — a part of a series of “how to guides” that will cover the basic mStable product suite, before getting into more advanced topics. Another article to read — mStable’s Stakeholders Voluntarily Commit to Staking. Here is MTA Emission Spotlight — October 2020. And the next community call is taking place on the 29th of October at 13:30 UTC. Join the team!
-Yield Protocol is live. It brings fixed-term, fixed-rate lending and interest rate markets to decentralized finance. Yield Protocol v1 enables fixed-rate borrowing and lending of Dai, using a new core DeFi primitive, fyDai.
-New features added to Alpha Homora. New leverage yield farming pool includes WETH/YFI pool. New feature includes Bring-Your-Own-Token (BYOT) feature, a feature that allows yield farmers to supply another token that’s not ETH and can reduce slippage to 0% when opening a position.
-You can now use DeFi Saver to instantly switch to a different protocol, change your collateral asset and change your debt asset in just one transaction.
-ParaSwap will use StarkWare’s StarkEx technology to scale its decentralized exchange aggregator product.
-BarnBridge yield farming now live. You can stake USDC/DAI/sUSD to farm BOND tokens — there’s even a desktop version of the UI available as well.
-MetaMask Swaps introduced. MetaMask users can now swap tokens directly from their wallet. Swaps combines multiple decentralized exchange aggregators, professional market makers, and individual DEXs.
-PayPal launches new service enabling users to buy, hold and sell cryptocurrency: PayPal Holdings, Inc. announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency’s utility by making it available as a funding source for purchases at its 26 million merchants worldwide.
-Messari’s Q3 2020 DeFi Review is out.
-Derivatives, the Second Half of DeFi.
-An Introductory Guide to Ethereum and Dai on Hackernoon.
-13 DeFi Notifications Ethereum Needs Today.
-Uniswap v2 pairs liquidity and fees dashboard.
-7 big takeaways and 20 data points about the current state of ETH and DeFi in 2020.
… and much more!
Read the full report here.
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