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.

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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

💎 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! 👋♦️👋

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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