Welcome to the 109th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between August 28th and September 4th, 2022.
🔥 The DeFi Bulletin
- The FBI issued recommendations to crypto investors about exploits, as they are rising.
- A Fed research paper warned about future risks involving the DeFi industry.
- Babylon Finance is shutting down, citing issues caused by the FEI hack.
- Compound’s V3 upgrade accidentally froze $ETH for a week after they approved a governance proposal with buggy code.
- Housecat launched on August 30th, a platform that helps people invest in the same tokens as other trustworthy investors.
- Apollo DAO unveiled their liquid staking solution for Cosmos.
- Orca Protocol rebranded to Metropolis recently.
- Sei Network raised $5M in funding, with the round led by Multicoin Capital.
- Luabase closed a $4.5M funding round, aiming to get reliable web3 data on a massive scale.
- Clockwork secured $4M in seed funding, with the round co-led by Asymmetric and Multicoin Capital.
- Contribution Labs raised $3M in an equity sale, with the company backed by Alchemy.
💵 State of the Stablecoins
- California’s Assembly passed a regulation bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state
- Rune Christensen of MakerDAO revealed his endgame plan to turn $DAI into a free-floating asset.
💱 DEX Report
- Volume on centralized exchanges and DEXs fell in August.
- DexGuru published their Summer 2022 report, in which they introduced new features like Arbitrum trading and limit orders.
💎 NFT News
- Sudoswap, an NFT AMM, revealed their $SUDO distribution plan for their governance token.
- PROOF, a project which makes NFT collections and a web3 platform, received investment from a16z recently.
Thanks for reading, and be sure to catch the 110th issue of The Defiprime Post out this time next week! 👋♦️👋