Welcome to the 16th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between November 1st and November 8th, 2020.
🔥 The DeFi Bulletin
- Ethereum’s developers released the Eth2 deposit contract address, so the network’s biggest evolution yet is now just around the corner. For anyone interested, Bankless just published a great guide on becoming an Eth2 validator.
- The Commodity Futures Trading Commission (CFTC) is holding a panel discussion on “digital assets, derivatives, and DeFi” on November 17th.
- KeeperDAO, a group centered around liquidity providers and keepers (think liquidators and arbitrageurs), introduced its ROOK governance token as well as associated ROOK liquidity mining and arbitrage mining campaigns.
- Crypto investments firm Paradigm published an interview with Andre Cronje, the creator of the hit yield aggregator protocol yEarn.
- Uniswap’s Matteo Leibowitz has an amazing “Uniswap: Community” dashboard up on Dune Analytics. If you haven’t seen this one before, do check it out!
- The U.S. Securities and Exchange Commission (SEC) harmonized and simplified its exempt offerings framework. The rule changes will likely lead to security tokens and security token offerings becoming more common around DeFi.
- The yEarn community is exploring restructuring the fees of yEarn Vaults, with the idea of replacing these Vaults’ withdrawal fees with management fees recently gaining traction.
- Binance listed Keep3r Network’s KP3R token. The project also just announced that it’s going to be relying on Uniquote oracles.
- You’ve heard of liquidity mining? On-chain synthetic assets project UMA Protocol just launched a “developer mining” program, in which 50,000 UMA tokens will be distributed weekly to devs who create assets using the protocol.
- Razor Network, a decentralized oracle project, just raised $3.7 million from investors like Alameda Research and Spark Digital Capital.
- Speaking of oracles, 29 of Chainlink’s 315 project integrations to date came last month alone.
- Lending protocol Percent Money accidentally froze its USDC, WBTC, and ETH markets, which in turn locked in some users’ funds.
- defiprime interviewed Yam Finance’s Trent Elmore as well as Romain Rouphael, a co-founder of LN Markets. The industry publication also just published a great explainer on DeFi indexes.
- There’s a new DeFi index on the scene, PieDAO’s DEFI++, which has a 70/30 weighting between large-cap and small-cap DeFi tokens.
💱 DEX Report
- Dharma’s proposal to distribute nearly $12 million worth of UNI tokens (over the matter of proxy smart contracts that missed out on Uniswap’s initial UNI airdrop) failed because not enough users participated in the relevant Uniswap governance vote.
- Decentralized market protocol Switcheo raised $1.2 million from DeFiance Capital, Three Arrows Capital, and more.
- 1inch.exchange introduced 1inch v2, the decentralized exchange aggregator’s new optimized infrastructure.
- ParaFi Capital made a strategic investment in BNT, the native token of the Bancor trading protocol.
💵 State of the Stablecoins
- USDC issuer Circle is planning to release “medium-term high-yield interest rate business accounts” that will be underpinned by the USDC stablecoin and DeFi.
- Curve launched a DUSD pool, a metapool between DefiDollar’s index-based stablecoin DUSD and Curve’s increasingly popular 3pool (Dai, USDC, USDT). The pool’s being incentivized with 95,000 DFD, DefiDollar’s governance token, weekly right now.
💎 NFT News
- Mintable, the first “NFT-only” DAO, has arrived. The group relies on NFTs for its governance, in that members use NFTs to make proposals and vote on proposals.
- NIFTEX, an exchange platform for trading fractionalized NFTs, just raised its first $500k in funding.
Thanks for reading, and be sure to catch the 17th issue of The Defiprime Post out this time next week! 👋♦️👋