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.
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🔥 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
- The supply of the Dai stablecoin has exploded in recent weeks and is nearing the 1 billion milestone.
- Maker, the backer of Dai, released a report this week on the top ways the Dai is used around the world in the here and now.
💎 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! 👋♦️👋