Biweekly update on the Ethereum DeFi ecosystem vol.62, 11th October — 25th October
$52 in DeFi, Ren integrates Moonbeam, Aave’s GHO development update is out, Enzyme introduces delegated voting, SushiSwap is weighing a new DAO structure, Balancer and Certora launch accelerator...
TL;DR
$52B in DeFi this week, currently at ~ $52.03B, with Maker dominance 14.92%.
Design Refresh: A refreshed mStable identity. A Stablecoin Framework: Assessing the risk of stablecoins on DeFi. Check out mStable’s latest proposals here. Twitter Space: Building the Bear S01E01 Stablecoins and risk frameworks.
Yield so good, even central bankers are shilling it. Evolving Yearn Tokenomics: From Value Capture to Value Creation: Yearn is revamping YFI tokenomics with a novel implementation of the veToken model.
From BlackRock to Uniswap: COO Mary-Catherine Lader sees the future of finance decentralized: Mary-Catherine Lader tells Fortune why she has no regrets about leaving traditional Wall Street behind — Crypto Winter or not. Twitter Space: BTS: Developing the Uniswap web app. Did you know Uniswap embedded a Swap Widget into the refreshed web app? Find out where and so much more — like where the team gets the price data and how they updated Uniswap app with zero downtime. Twitter Space: Designing for web3 and Uniswap refreshed web app. The latest Uniswap proposals are here.
Latest Aave News: Spotlight on Picnic, GHO Development Update, Q3 Financial Reports and the Largest Vote in Aave History Goes Through. Don’t Remove your Proposition Power. GHO Development Update. Aave Companies shared an update on GHO as well as a technical paper. Llama shared their most recent Financial Reports for Aave. Gauntlet shared a report that outlines how their recommendations have generated >$3.7M of additional interest on Aave. Aave Grants shared a deepdive on their recent September update. Deploy Aave v3 on zkSync v2.0 Testnet. Follow the Aave governance forum.
SushiSwap is weighing a new DAO structure that uses non-transferable shares.
Compound Proposals 130 ‘Adjust cCOMP and cUNI Parameters’, 129 ‘Risk Parameter Changes for FEI: Part 2’ have passed successfully. Proposal 131 ‘Pause Supply for Compound Assets’ has been queued. Find the latest Compound proposals here. The Compound v2 and v3 starter interfaces are now compatible with Brave’s native crypto wallet. Compound Treasury has moved to a new, dedicated home on the web: //compoundtreasury.com.
Gnosis Chain Weekly · 21 October 2022. Transaction censorship was a hot-button issue last week with MEV Watch publishing stats about the percentage of OFAC compliant blocks on Ethereum. Martin Koppelman, co-founder of Gnosis, tossed his hat into the ring tweeting, “We reached another sad milestone in censorship: 51% This means if the censoring validators would now stop attesting to non-censoring blocks they would eventually form the canonical, 100% censoring chain.” Friederike Ernst, another founding member of Gnosis, hosted a barn burner panel at Devcon about censorship resistance and credible neutrality for the Epicenter podcast. Please subscribe to the Merge Newsletter for the most up-to-date information on how to prepare for the Gnosis Chian merge.
Fiat On-Ramp: dYdX now provide its users a tool to purchase USDC using a variety of payment methods including credit card, bank transfer, and other convenient local payment methods. Game Theory with Jordi Alexander: Episode 5 of the dYdX podcast: Depth and Spread is live! In this episode, we chat with Jordi Alexander, CIO of Selini Capital. Podcast: Antonio Juliano | Founder of dYdX | Decentralized Exchanges.
The Story of Money explores UMA’s origins and future: Join Samantha Yap as she kicks off the second season of Yap Cast’s The Story of Money with two episodes featuring UMA co-founder Hart Lambur. Twitter Space: Is Pluto a Planet? How UMA’s OO tackles questions like this.
Enzyme announced a new feature — Delegated Voting. Enzyme now allows vault managers that hold governance tokens to delegate the voting power of those tokens to any wallet address. Initially, this feature supports Uniswap Foundation, Compound finance, Aave. Hedge funds pile into crypto assets as FOMO outweighs potential risks: 67% of hedge funds that are currently investing in crypto assets are planning to increase their investments by the end of 2022. Enzyme co-founder Mona El Isa was interviewed for this Financial News article. Check out MFP: Enzyme Funding Proposals here.
Nexus Mutual partners with Sherlock. Latest Nexus Mutual newsletter. Members voted to use LDO holdings to buyback wNXM below book value after Vincent Weisser’s initiated the Buyback $wnxm with $ldo $gal discussion and Snapshot proposal. On last week’s community call, BraveNewDeFi reviewed the community highlights and governance proposals. Afterward, Hugh shared his weekly team update. Community proposals of these weeks.
Phuture Case Study: Phuture, a decentralized protocol that gives users passive exposure to crypto, utilizes 0x API to power all of its on-chain index funds and improve returns for users. In this case study, the team explores how Phuture relies on 0x API as an essential part of its product architecture to improve the performance of its on-chain index funds. Leveraging 0x APIs, Phuture was able to improve capital efficiency and performance of the Phuture DeFi Index. The countdown to 0xpo Crossroads and SF Blockchain Week ’22 has begun.
1inch to hit Web Summit 2022: The 1inch Network will feature prominently at one of the year’s main events for the tech industry. Loss of funds on Fantom caused by user mistake, not the 1inch Network vulnerability: The problem experienced by a user was caused by sending an approval to a non-existing smart contract on Fantom. 1inch partners with Oktagon MMA: The partnership signifies another step into the MMA terrain in a move to bridge DeFi and exciting competitive sports. The big idea of DAOs. State of 1inch Q3 2022 by Messari.
QiDAO will support the Kyber Network Crystal (KNC) token as collateral. Lido Finance officially launches onto Layer 2 solutions with wstETH Farms on KyberSwap Elastic. Find out all Kyber proposals here. Check them out on GitHub.
Balancer and Certora Launch Security Accelerator: Security Accelerator aims to deliver a full integration suite for projects building on top of Balancer Protocol. Check out Balancer’s Head of Smart Contracts Nicolás Venturo’s talk at the DeFi Security Summit 2022. Have you heard about Balancer Relayers? John Grant, our lead SDK engineer, comes through with a deep dive into them. The latest Balancer Report is here.
Loopring Quarterly Update (Q3/2022): The third edition of our 2022 Loopring Quarterly Updates. Phase 2 [of L2 DeFi Port] will be introducing even greater functionality to Loopring L2 users, potentially including lending, margin trading, additional asset staking options, and much more. Cloud Backup is here: Instead of using your guardians to recover your wallet, which incurs an onchain txn fee, you can now encrypt + store your keys in the cloud for free and easy recovery. As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.
Ren integrates Moonbeam: Ren now supports direct bridging to and from Moonbeam for every asset that Ren supports, such as $BTC, $ETH and $USDC. Ren Development Update | September 2022.
The Synthetix Aspidiske Release — Liquidation of SNX Escrow took place. Here’s what’s included in this release: SIP-252: Liquidation of SNX Escrow: Allows SNX entries to be liquidated in case of force liquidation. SNX is now supported for deposits and withdrawals on Optimism from Binance. Twitter Space: Synthetix Perps V2 Explainer with Core Contributor Afif. SNXweave’s Quarterly Report is hot off the press.
Brave adds 19 new DApps to its Wallet Partner program: 19 new DApps joined Brave’s Wallet Partner program in October, including Web3 leaders Compound, BadgerDAO, Matcha, Rarible, DappRadar, Synthetix, VVS Finance, and more
According to Rep. Himes, the stablecoin bill is not happening before Congress dissolves in January.
Ex-Regulators have challenged the SEC in a Bitcoin ETF brief.
MakerDAO community approves proposal to custody $1.6B in USDC with Coinbase.
And more!
Read the full report here.
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