Welcome to the 17th 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 8th and November 15th, 2020.
Want to mine some yield farming knowledge? We’re leaking alpha. Check out defiprime’s new Alpha DeFi community forum, where we regularly launch great new yield farming guides!
🔥 The DeFi Bulletin
- DeFi users are up 55% since the start of Oct. 2020, per data from Dune Analytics.
- Crypto research firm Delphi Digital proposed a new token architecture for Aave’s AAVE token. If conducted, the move would transition Aave away from being a credit facility into a credit protocol.
- Speaking of Aave, the project’s V2 system is now available for use on Ethereum’s Kovan testnet.
- Ethereum’s whitehat savior-in-chief Samczsun published a write-up on price oracles focused on helping DeFi projects use these oracles safely.
- yEarn is exploring options protocol Hegic for another avenue to downside-mitigated savings accounts.
- The yEarn community published its 8th State of the Vaults report.
- The Synthetix community is exploring the creation of The Spartan Council, which would be a delegated governance system composed of seven electable council members.
- You can now trade tokenized Brent Crude Oil futures courtesy of Synthetix, too.
- Crypto exchange giant Binance pledged $100,000 to the Ethereum community’s Gitcoin Grants Round 8.
- Ethereum 2.0 staking liquidity solution StaFi has arrived.
- A bug in older versions of the Geth client caused ConsenSys-backed Ethereum infrastructure provider Infura to face its biggest outage yet this week. Read the company’s post-mortem here.
- Upstart DeFi risk management platform UNION raised $3.9 million in a new funding round.
- Global mempool data platform Blocknative, which focuses on the Bitcoin and Ethereum blockchains, raised $5 million from investors like Blockchain Capital, Coinbase Ventures, and more.
- DeFi dashboard Zapper.fi extended its seed round with new investments from Delphi Ventures and Coinbase Ventures.
- Leveraged yield farming project Alpha Homora announced part 2A and part 2B of its ongoing liquidity mining program.
- DeFi lending and savings protocol Akropolis saw its savings pool drained to the tune of $2 million Dai.
- Yield farming protocol Value DeFi was also just hacked for $6 million.
💱 DEX Report
- DEX aggregator project Kyber Network published its 20th Kyber Ecosystem Report.
- Balancer Labs, the team behind the Balancer AMM, sold an undisclosed sum of BAL from its treasury to Alameda Research and Pantera Capital. The strategic investments will help in the development of Balancer V2.
- Ethereum wallet provider MyEtherWallet has integrated with 1inch.exchange, allowing MEW users to make 1inch swaps right within their wallets.
- Will Uniswap’s UNI liquidity mining program continue? It’s not looking like it right now.
💵 State of the Stablecoins
- Maker published a post this week seeking to correct a handful of common misconceptions around the Dai stablecoin, which just hit the 1 billion total supply milestone.
- Top DeFi lending protocol Maker now supports BAL and YFI as collateral in the Multi-Collateral Dai (MCD) system. Additionally, Maker just published a new collateral onboarding guide.
- Stablecoin index project DefiDollar just launched DFD rewards for 4 DUSD- and DFD-based liquidity pools.
💎 NFT News
- Artist Micah Johnson sold his NFT artwork “sä-v(ə-)rən-tē” on programmable art platform Async Art for 250 ETH.
- Collector DANNY bought CryptoPunk #2924, a rare “ape” punk, for 150 ETH.
Thanks for reading, and be sure to catch the 18th issue of The Defiprime Post out this time next week! 👋♦️👋