Biweekly update on Ethereum DeFi ecosystem vol.37, 31st August - 14th September
$86B in DeFi, Arbitrum One is now live, MetaMask surpasses 10M MAUs, 0x API is now available on Avalanche, Dharma is live on Polygon, The RenVM Greycore is on testnet, KyberDMM launches on BSC, & more
TL;DR
-$85.6B in DeFi this week, currently at ~ $85.64B, with Aave dominance 15.59%.
-Arbitrum One mainnet now live: Users can now bridge into Arbitrum One and start using apps such as Uniswap, SushiSwap and Balancer with low fees and fast transactions. Offchain Labs also announced that they have raised $120 million in a Series B round.
-Dai Almost Ready for Arbitrum: Maker Protocol’s Engineering CU are working to connect Dai to Arbitrum and will conduct a final audit of the Custom DAI Gateway before the launch.
-0x API is now available on Avalanche: 0x API is live on Avalanche, aggregating liquidity across all existing sources — including Pangolin, SushiSwap and TraderJoe. Check out our documentation and start building on Avalanche with 0x API today. 0x + Celo partner to bring DeFi to 6 billion smartphone users worldwide: 0x establishes itself as a founding partner of DeFi for the People built on the Celo blockchain. 0x Ecosystem Update #14: Highlights, network insights, and news from across the 0x ecosystem — July / August 2021.
-RenVM Greycore on Testnet: The Ren core development team announces the migration of RenVM Testnet to support the Greycore. Learn more about the Greycore, the Testnet process, and its members in rhis article. Build your first Dapp with RenJS: Building a marketplace on Ethereum. August Development Update: Last month the RenVM core development team has been up to quite a lot, from launching its new million-dollar bounty program with Immunefi, to supporting new chains.
-MetaMask surpasses 10 million MAU’s: From 545,080 monthly active users in July 2020 to 10,354,279 in August 2021, MetaMask has grown over 1,800% in just one year.
-Yearn Finance quarterly report for Q2 2021 is out. Read in the latest Yearn Finance Newsletter #45: ALPHA and YFI liquidity providers eligible for a special NFT; Reminder to migrate to V2; How to swap into Yearn Vaults; Cumulative Protocol revenue reaches $39M; Vaults at Yearn; Ecosystem News.
-Aave News: The Next Aave is Aave. Active proposals: Launch Aave on Harmony — Harmony is proposing to deploy Aave v2 on the Harmony blockchain to expand lending to a growing community of users and provide incentives to bootstrap the launch of Aave to a new ecosystem. Follow the Aave governance forum. Latest Aave weekly.
-Polygon is now live on Dharma for all users: With Polygon PoS integration, users can purchase hundreds of tokens on Dharma, directly from a US bank account delivered to their wallet.
-Incident report for the Safety Pool issue: Stake DYDX to the safety staking pool starting September 8. Earn rewards for contributing to Protocol stability. Safety Module Outage: Read a detailed breakdown of a bug for the Safety Staking Pool, for which a fix can be implemented through a governance proposal. Review of Epoch 0: Updates from the team on the ecosystem, community, mining programs, and more.
-xDai Weekly Recap September 10, 2021 is out.
-Compound Proposals in the voting period: Proposal 060 updates the governance system, allowing the Community Multi-Sig to whitelist addresses eligible to directly create governance proposals. Proposal 059 distributes 6,817,632.51 DAI to users affected by liquidations on November 26th, 2020, when the price of DAI reached $1.30 on Coinbase Pro. Find the latest Compound proposals here.
-UMA: Risk Labs Developer Mining Update and Retrospective: Risk Labs will be discontinuing developer mining on Oct 4, 2021. The program has been responsible for jumpstarting UMA adoption and community growth.
-Tokenomics 2.0 — the beginning of a new era: More details on how MIP7 is being implemented. Check out MFP: Enzyme Funding Proposals here. The Curve *EURS* pool is now available on Enzyme in addition to the *stETHLido*, *sETH* & *a3CRV* pools. Latest Weekly Recap. Join a workshop hosted by ETHGlobal on working with the enzyme protocol.
-Metanauts Guide to Coordinape: Rewarding mStable core community. Episode 268: James Simpson, Founder, mStable: In this episode, Tegan Kline interviews James Simpson, the founder of mStable. Check out mStable’s latest proposals here. Idle Leagues partnership proposal with mStable.
-Set Protocol Architecture: Everything You Need to Know About DPI’s Foundations. How Composability Powers FLI Tokens. Index Coop Financial Report: August has seen the Index Coop grow from strength to strength both from a financial standpoint and also as a community. Find the latest Index Coop proposals here.Conversations with the Coop — Ben and Kila from Qi DAO.
-The 1inch Network integrates with Hashflow: The integration offers top-quality trades for users while opening access to deeper liquidity for 1inch. 1inch partners with BitPay: Thanks to the partnership, BitPay users will get access to the 1inch dApp’s DEX aggregation functionality for the best deals across multiple liquidity sources. The 1inch Foundation compensated gas costs to 1inch dApp users in August. Sergej Kunz: “Decentralized exchanges and aggregators drive DeFi growth”. The 1inch Network partners with Take My Muffin animated series.
-Balancer Protocol is live on Arbitrum to scale DeFi liquidity. Check out Balancer Grants Monthly Update. Moreover, WallStreetBets launches exchange-traded portfolios (ETPs) on Balancer V2. HaloDAO aims to bring DeFi to the masses with custom AMM built on Balancer V2. The latest Balancer Report is here. Fernando Martinelli, Balancer Labs CEO, on how defi is turning traditional finance on its head.
-The Bancorian | A Weekly Summary-September 5th 2021: V3 development is progressing, the team is working hard to ensure that gas costs are minimal and that the contracts are simplified. They will be making the contracts easy to deploy on L2s and other lower-cost chains as well. Bancorian Digest | A Weekly Summary-August 29th 2021. Latest proposals.
-KyberDMM Launches on Binance Smart Chain with $4M in Liquidity Mining Rewards: DeFi’s first multi-chain dynamic market maker will enable dynamic fees and higher capital efficiency for liquidity providers on BSC. Knit Finance is collaborating with Kyber Network to Enable Cross-Chain Transactions and Create Market options. Find out all Kyber proposals here. Check them out on GitHub.
-Lyra introduces Trial Liquidity Mining Program: This trial liquidity mining program is designed to increase the supply of sUSD on OE and enable a better experience for Lyra’s traders and liquidity providers.
-Loopring CTO Steve: What is the real future of Layer-2 networks. Loopring L2 Liquidity Mining: Round 14: Get ready for round 14 of incentives on Loopring’s L2 AMM & Orderbook exchange, beginning on September 9, and lasting 28 days.
-SEC Investigating Uniswap Labs. The Wall Street Journal reported the news last Friday, citing “people familiar with the matter.” Enforcement attorneys are said to be seeking information about how investors use Uniswap and how it is marketed. A Uniswap Labs spokesperson told The Journal that the firm is is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.” UGP & ETHGlobal Present: UniCode: UGP with ETHGlobal bring UniCode, a dedicated hackathon by and for the uniswap community. UNI Letters #1: UNI Letters is community-run bi-weekly newsletter. It is envisioned as a digest of the most relevant updates from the Uniswap ecosystem. This includes governance discussions, proposals, product and UGP grantee updates and more. Latest Uniswap proposals are here.
-The United States Treasury has reportedly had talks with crypto industry participants, to quiz them about the risks and possible benefits of stablecoins, to better respond to crypto’s rapid growth.
-Brian Armstrong responds to SEC threats to shut down Coinbase yield product.
-The Mirfak Release: On September 13th, several new updates were added to the protocol. Deprecating Low Volume L1 Synths: As part of our rollout on the Optimistic Ξthereum L2, a number of synths will be deprecated on L1 and subject to a re-listing process for L2. V2x Revisited. Perpetual Futures powered by Synthetix are launching on Kwenta soon. They will be running a massive futures trading competition that you won’t want to miss. Sign up here to be one of the first to know when it starts.
-DeFi Alliance launches gaming accelerator: This gaming accelerator will help game startups with game design, community building, tokenomics and liquidity. It’ll be supported by the D.A.N. and a founding cast of mentors.
-Neuron Fund launches on Ethereum and Polygon to bring financial derivatives to DeFi. Neuron Fund is a decentralized fund leveraging liquidity, options, and trading strategies to deliver attractive risk-adjusted performance on crypto and stablecoins.
-Zapper Product Update #3: Wallet avatars, NFT mania and more in this product update from Zapper.
-DeFi Short Squeeze on Euler.
-Anatomy of an MEV Strategy: Synthetix.
-ParaSwap: Solving Liquidity for DeFi on Epicenter.
-And more!
Read the full report here.
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