Welcome to the 100th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between June 26th and July 3rd, 2022.
🔥 The DeFi Bulletin
- The public RPC gateway for Fantom and Polygon was hijacked recently in a DNS hack.
- The SEC rejected Grayscale’s spot Bitcoin ETF application, stating that they failed to answer how they prevent market manipulation among other problems.
- Reportedly, less than 1% of holders have 90% of the voting power in most DAOs.
- Polygon deployed their custom blockchain scaling system, named “Avail”, allowing devs to launch app-specific blockchains on Polygon.
- Celsius Network is refusing to file for Chapter 11 bankruptcy against the advice of their lawyers, seeking user support amid their troubles.
- FTX also walked away from a deal with Celsius after seeing their situation.
- Ronin Bridge by Ronin recently went live and opened up.
- Compound Labs is getting closer to multi-chain lending, evidenced by newly-released code.
- Compound’s founder is also unworried about the state of DeFi defaults.
- Maker DAO took a vote about investing $500M in US Treasury bills.
- OP Crypto closed a $100M fund for funds, aiming to back fund managers.
- Wonderland also passed a vote to invest $25M in Sifu Vision.
- FTT DAO raised $7M in funding, mainly supported by a community of Sam Bankman-Fried fans.
- Peaq secured $6M in funding, with the round being led by Fundamental Labs.
- MoHash closed a $6M seed funding round, aiming to bring sustainable stable yields to DeFi.
💱 DEX Report
- Crypto Hedge Funds and Traders are shorting Tether after seeing the implosion of UST.
💎 NFT News
- Facebook began testing out Ethereum and Polygon NFTs as part of their work on integration with Profiles.
- The US Department of Justice charged Le Anh Tuan of Vietnam, an NFT developer, for $2.6M due to a rug pull scam.
Thanks for reading, and be sure to catch the 101st issue of The Defiprime Post out this time next week! 👋♦️👋