Welcome to the 15th 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 25th and November 1st, 2020.
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🔥 The DeFi Bulletin
- Lending protocol Aave is going fully decentralized, as the Aave team is passing off the project’s admin key to the community-run Aave Governance system.
- Yield aggregator project Harvest Finance issued a $100,000 bounty (which they promptly upped to $1 million) for evidence leading to the arrest of the culprit who stole millions of dollars from the protocol this week using a sophisticated flashloan maneuver.
- Harvest Finance published its post-mortem report on the aforementioned attack.
- More fixed-rate debt markets are coming to DeFi courtesy of Notional’s new beta, which is now live on the Ethereum mainnet.
- B.Protocol, a decentralized backstop liquidity protocol, is now live. The project aims to help users “make more with their Maker Vaults.”
- Lending protocol Maker had its first flashloan panic this week when the B.Protocol team used flashloaned MKR to swing a Maker governance vote. Now, calls are growing in the community to shield against this kind of highly-abusable maneuvering.
- Ethereum data provider Nansen raised $1.2 million in a new seed funding round.
- Meet OpenZeppelin Defender, a secure operations platform designed to help projects safely automate smart contract operations.
- Andre Cronje launched Keep3r Network, a decentralized gig system that can help DeFi projects automate keeper operations. (Speaking of keepers, check out this discussion between Cronje and Synthetix team members about these special DeFi contributors).
- Social money startup Roll (which launches personal tokens as ERC-20s atop Ethereum) just raised $1 million in a new investment round.
- SCB 10X, the venture division of Thailand’s Siam Commercial Bank, is teaming up with Alpha Homora creators Alpha Finance Labs to collaborate on DeFi projects.
💱 DEX Report
- AMM project Balancer is launching a version of its protocol on the NEAR blockchain.
- Yield farming aggregator APY.Finance is launching its token genesis event (TGE) on Nov. 5th using a Balancer Liquidity Bootstrapping Pool (LBP).
💵 State of the Stablecoins
- Stablecoin protocol DefiDollar raised $1.2 million from investors like Accomplice, CoinGecko, and LedgerPrime.
- The DefiDollar project also just announced its Initial Liquidity Mining Offering (ILMO), which is aimed at a “balanced and healthy distribution of the $DFD token.”
- Rai, a conservative and governance-minimized alternative to the Dai stablecoin, is getting closer. The token’s creators just unveiled proto RAI, an unaudited mainnet demo of the Rai.
- LedgerPrime’s Joel John published an excellent “State of the Stablecoins - Q3 2020” report this week through The Cipher.
💎 NFT News
- Breakout NFT game Axie Infinity unveiled its AXS governance token, which players can earn by interacting with the game.
Thanks for reading, and be sure to catch the 16th issue of The Defiprime Post out this time next week! 👋♦️👋