The Defiprime Post #13: Your Weekly DeFi News in Bite-Sized Fashion

William M. Peaster on 19 Oct 2020

Welcome to the 13th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 11th and October 18th, 2020.

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🔥 The DeFi Bulletin

  • U.K. media boss and former banker Alexander Lebedev called DeFi “revolutionary.”
  • Superstar yEarn dev Andre Cronje laid out a new DeFi system that can “generate as much trading fees as possible” and “offset IL [impermanent loss] as much as possible.”
  • The Internet of Value? It’s already here and getting stronger all the while thanks to Ethereum, says The Defiant’s Cami Russo.
  • Interested in the best practices when it comes to reporting your DeFi activities on your taxes? Don’t miss this new tax guide from defiprime!
  • SEC Commissioner Hester Peirce talked shop about DeFi this week on Laura Shin’s Unchained podcast.
  • CFTC Chairman Heath Tarbert commented: “The whole idea of DeFi really is, number one, it’s obviously revolutionary, and I think at the end of the day could lead to a massive disintermediation of the financial system and the traditional players.”
  • Is DeFi the hottest thing in crypto right now? Don’t take my word for it, just read Bloomberg.
  • Welcome Lido, a new ETH 2.0 staking solution.
  • The Synthetix-powered derivatives project Kwenta is now live.
  • The Gauntlet Network helped launch a risk score for DeFi protocols.
  • The Graph Protocol revealed its GRT token sale and distribution scheme.
  • Is the Dharma project taking over Uniswap’s governance? You decide.
  • Meet Vesper, a new DeFi protocol designed to “strike the ideal balance between professionalism and community dynamism.”
  • Luxury watchmaker Breitling is now issuing digital authentication certificates atop Ethereum.
  • Popular ERC-20 bitcoin project WBTC is now supported on Coinbase Pro. Speaking of WBTC, check out defiprime’s interview with the enterprise’s latest CTO, Benedict Chan.

💱 DEX Report

  • Bancor introduced its v2.1 system, which includes support for single-sided AMM support and introduces an elastic BNT supply system.
  • A Uniswap governance proposal to reduce the UNI governance and quorum thresholds passed.
  • The DODO DEX project announced a $5 million private sale funding round that was led by Binance Labs, Pantera Capital, and Three Arrows Capital.
  • Popular Ethereum wallet MetaMask unveiled MetaMask Swaps, which lets users trade for tokens directly within their MM wallet app.

💵 State of the Stablecoins

  • The yEarn builders launched the y3crv Vault, which is based on Curve’s 3pool of Dai, USDC, and USDT.
  • The USDC stablecoin is now available on the Stellar blockchain.

💎 NFT News

  • Bluekirby.eth made a big mess in the DeFi and NFT arenas with their recent exit scam. The Daily Gwei had a great write-up on the episode, check it out.
  • This week _defiprime _interviewed Rarible co-founder Alexei Falin.

Thanks for reading, and be sure to catch the 14th issue of The Defiprime Post out this time next week! 👋♦️👋

About the author
William M. Peaster
William M. Peaster is a writer and curator of the DeFi Arts Intelligencer, a newsletter tracking Ethereum’s digital collectibles arena. He is not a financial advisor. The thoughts shared in this guest post are his opinions and reflect his personal experiences and personal optimism around Ethereum. He currently owns some cryptoart and ETH.

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