The Defiprime Post #14: Your Weekly DeFi News in Bite-Sized Fashion

William M. Peaster on 26 Oct 2020

Welcome to the 14th 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 18th and October 25th, 2020.

Want to mine some yield farming knowledge? We’re leaking alpha. Check out defiprime’s new Alpha DeFi community forum, where we just launched some great new guides on BOND, SWRV, and more.

🔥 The DeFi Bulletin

  • Harvest Finance exploited, about $24 million had been lost.
  • Derivatives project Perpetual Protocol is moving to xDai Chain to scale the platform.
  • Messari’s Q3 2020 DeFi Review is out. Don’t miss this one!
  • Decentralized predictions marketplace Polymarket raised $4 million in a new investment round.
  • Fixed-rate lending project Yield Protocol is now live on the Ethereum mainnet.
  • Dharma’s initial proposal to lower the Uniswap UNI governance proposal threshold to 3 million UNI failed.
  • Yield aggregator project yEarn released a manifesto this week titled “How we think about yEarn.”
  • Brian Brooks, the acting U.S Comptroller of the Currency, said: “We […] see a future where decentralization is very likely an unstoppable force out there. Decentralized networks, by definition, are cheaper, faster, and more resilient than any kind of centralized structure.
  • Synthetix founder Kain Warwick published a post called “Why Optimism?” Therein, Warwick outlined why the synthetic assets project is embracing the L2 Optimism solution and why other DeFi projects might follow suit.
  • PayPal announced that it’s launching crypto services. Booyah!
  • Early bitcoin miner Bixin just opened up a $100 million DeFi investment fund.
  • Meet Loan Shifter, a project that lets you easily shift your positions in DeFi lending projects via DeFi Saver.
  • Ethereum scaling project StarkWare is paving the way to major L2 interoperability through the StarkEx scalability engine.
  • Zcash is a privacy coin, and now it’s getting wrapped into an ERC-20 token so it can be used around DeFi.
  • Beleaguered crypto derivatives exchange BitMEX introduced futures for YFI.
  • There’s a new lending protocol on the block, and it’s called EasyFi. It lets you take out under-collateralized loans in DeFi.

💱 DEX Report

  • On-chain liquidity aggregator Kyber unveiled KyberPro, an “end-to-end framework for professionals to easily onboard and run a profitable market making operation on-chain.”
  • Upstart stablecoin protocol project DefiDollar just reached a new all-time high in its total value locked (TVL),

💵 State of the Stablecoins

💎 NFT News

  • No-loss savings game PoolTogether launched its v3 system, which includes support for NFT rewards.
  • Chainlink launched its on-chain randomness solution, Chainlink VRF. The tool bodes huge potential for NFT-based blockchain games that need verifiable randomness generation on-chain.

Thanks for reading, and be sure to catch the 15th issue of The Defiprime Post out this time next week! 👋♦️👋

DeFi is coming. Don't get left behind

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.

The Latest: