Biweekly update on Ethereum DeFi ecosystem vol.27, 30th March - 13th April
Compound becomes #1 with over $10B TVL, dYdX layer 2 now public, 0x DAO is live, Kyber launches DMM Beta, Bancor vBNT burning is here, Gnosis Auction announced, Dharma introduces gas-lite...
TL;DR
->$53B in DeFi this week, currently at ~ $53.44B, with Compound dominance 19.95%. Сompound just became the first in DeFi to break $10B Total Value Locked (TVL).
-dYdX layer 2 DEX now public: dYdX’s layer 2 cross-margined perpetuals are available to the public on mainnet Ethereum, powered by StarkWare and settled in USDC. UNI-USD and AAVE-USD Perpetual Markets are now live on Layer 2. On April 20, 2021 at 12pm PST (Final Settlement Date), dYdX Perpetual Contracts on Layer 1 will enter Final Settlement.
-Gnosis Auction announced: Gnosis Auction is the new platform for fair, transparent, and decentralized token price discovery on Ethereum. Inventories, Not Identities: Why multisigs are the future of online accounts.
-Aave deploys on Polygon (a sidechain to Ethereum) and the team also detailed their future plans on how they will be tackling scaling going forward. March Update: 6 Billy, AMM Pool, New Frontiers is out. Direct Deposit Module (D3M) introduced: D3M enables DAI minting directly into Aave Protocol by using aDAI as collateral in the D3M Vault by minting and burning DAI based on liquidity needs and market opportunities in Aave Protocol.
-0x DAO is now live: ZRX holders now have control of the 2M ZRX (~$4.1M) community treasury with complete autonomy to vote on proposals for how to use it. 0x DAO AMA on Discord recap.
-Optimistic Ethereum on L2 is now integrated into Staking: OΞ is now integrated into Staking. Optimism Mainnet Upgrade: Scheduled Downtime and Regenesis: A summary of the Optimistic Ethereum scheduled downtime and regenesis.
-Synthetix sDAO liquidity collaboration: During last month’s mUSD upgrade, the Synthetix sDAO and mStable protocolDAO collaborated to source the required sUSD liquidity to balance the mUSD basket ahead of the upgrade. Read more about how we safely executed the mUSD basket upgrade. mStable launches Feeder Pools, a pegged asset liquidity pools comprising of 50% fAsset (like BUSD) and 50% mAsset (like mUSD). mAssets are the default trading pair of all fPools, and efficiently bridge liquidity from each fPool to the main mAsset pool. Check out Guide: Feeder Pools.
-In this week's, Yearn Finance Newsletter #29: Yearn TVL has exceeded $2.5b; launch of the weekly yVault report (latest weekly yVault report is here); YIP-60: airdrops to Yearn vaults voting is live; Yearn strategists find the opportunities for you; State of the Vaults; partnership roundup. Decentralized payroll management for DAOs - a new article by Andre Cronje.
-News in the latest Compound digest: Grants Program funds batch 1, Dharma integration, Governor Bravo is live, WBTC market upgrade.
-Dharma introduces Gas-Lite which allows users to save up to 80% on Network Fees when you deposit to yield protocols from their bank account on Dharma.
-Kyber Dynamic Market Maker (DMM) now live: DMM is a next-gen AMM designed to optimise fees and enable extremely high capital efficiency for liquidity providers. Kyber Weekly Update is here.
-Making Maker: March 2021: In March, the content spotlight was on DeFi and governance, beginning with a beautifully designed infographic illustrating the brief history of decentralized finance and ending with part one of a three-part blog series titled Informed Voting. Everything in between is also yours to discover, and it’s all here. A new Executive Vote has been added to the voting portal: Onboard New Silver Series 2 DROP. New Governance Polls have been added to the voting portal: Inclusion Polls, Signals, and Parameter Changes.
-xDai weekly recap focuses on New Projects, Project Updates & more.
-vBNT Burning is Live: The Bancor Vortex Burner has been deployed to the Ethereum mainnet. Over 1,600 vBNT was burned yesterday, locking BNT in the protocol forever. Starting today, limits on the vBNT pool will be increased, allowing more users to stake their vBNT. A Guide to BancorDAO Due Process: Obligations to the BancorDAO.
-EPNS and Uniswap Team Up: Uniswap will be participating in EPNS’s pilot program and to develop the core EPNS protocol. UGP Wave 2 & Operational Updates: Grantee details. Just how efficient is Uniswap v3?Bankless episode with Hayden Adams.
-SushiSwap x UMA: UMA and Sushiwap add call options. The UMA KPI Options Airdrop is now claimable and the Super Uman campaign is live. UMA’s ICYMI #9 & ICYMI #8 are here.
-Set Protocol V1 Deprecation: Sets built on v1 of the Set Protocol system are being deprecated so that if you hold any of these legacy Sets you are encouraged to either sell or redeem them.
-Metaverse Index launched: The Metaverse Index (MVI) is a basket of 15 tokens, designed to capture the trend of entertainment, sports and business shifting to a virtual environment. $150m TVL for DPI.
-Introducing the 1inch Network: 1inch announces rebrand to ‘1inch Network,’ laying groundwork for expansion. Furthermore, 1inch successfully surpasses 30$ Billion in total trading volume. The 1inch Foundation kicks off a new liquidity mining program with DigiByte and Ren protocol: 25k USD in 1INCH together with 25k USD in renDGB will be distributed among LPs to the 1INCH - renDGB pool over a 4-week period. The team integrated Feeder Pools from mStable.
-Balancer Labs clarifies their involvement in a balancer implementation on Algorand network. Radicle’s New Record LBP Sale Shows That LBPs Are Here To Stay: Learn how Radicle leveraged Balancer LBPs to raise a groundbreaking total of 24.73M USDC in a capital-efficient way (3.5M USDC to begin with) all the while fairly distributing their RAD token to 1859 wallets. The latest Balancer Report is here.
-Loopring Quarterly Update: 2021/Q1 was published. Trade DPR on Loopring Layer 2, million DPR at your grasp. Loopring L2 Liquidity Mining: Round 5.
-Raiden Pulse #16: News from February — March is out. Go ahead and check the latest updates to the project. Check out the latest Raiden Weekly - Issue 165.
-DeFiance Capital joins the Enzyme ecosystem. Claiming Gas Subsidies for March and extending program to cover April too. Enzyme week in review is here. Watch Enzyme Finance and DeversiFi fireside chat recording.
-The Video and Transcript from the AMA session with Hugh Karp, Founder of NexuMutual is now available.
-Polygon and Connext partner Up: As a first step in the partnership, the teams have integrated Connext into wallet.matic.network for fast USDC and USDT transfers between Ethereum and Matic. Slingshot live on Polygon: The Slingshot decentralized exchange aggregator is now live on the Polygon network in beta.
-RenVM has surpassed 4 billion USD in total cross-chain volume, with close to 6 million USD rewarded to network participants. Ren March Development Update. Ren x 1inch x DigiByte Liqudity Mining details. Ren's Cross-Chain Pool on RariCapital is now live.
-Fei Protocol genesis completed: The genesis event resulted in 639,000 ETH being committed to the protocol resulting in a mint of $1.3 billion FEI.
-PayPal Now Allows Crypto Spending at Millions of Merchants: PayPal has started allowing U.S. users to spend their cryptocurrency holdings at millions of online merchants globally.
-Coinbase reports an estimated $1.8 billion in total revenue for Q1 2021: The data publication comes days before Coinbase’s expected direct listing on Nasdaq on April 14.
-Introducing MetaMask Institutional: MetaMask Institutional enables institutional investors to engage in DeFi with the world’s most trusted Ethereum wallet.
-Sushi 2021 Q1 update: Updates on new hires, BentoBox & Kashi release, governance proposals, Onsen reward program and more in this quarterly review from the Sushi team.
-Instadapp protocol & governance detailed: This update explains how the Instadapp team intends to roll out the INST governance & token and the key upgrades for the DSA.
-TCAP launched: TCAP is the world’s first total crypto market cap token which gives users exposure to the entire cryptocurrency market cap.
-DeFi Obstacles to User Adoption
-And more!
Read the full report here.
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