Welcome to the 19th 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 22nd and November 29th, 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
- The Beacon Chain deposit contract received the necessary 524,288 ETH to kick off Phase 0 of Eth2 on Dec. 1st.
- Yearn revealed plans to merge development resources with Pickle Finance and new partnerships with C.R.E.A.M. Finance and Cover Protocol. Yearn’s Andrew Cronje walked through the general structures of these deals in a new post on DeFi collaborations.
- The Compound community is exploring retroactively aidropping COMP to early users of the lending protocol.
- The Cover Protocol community voted to cover its first claim related to the recent “Evil Jar” Pickle Finance attack.
- GnosisDAO has arrived, a collective based around the Gnosis prediction marketplace ecosystem.
- Liquid Ethereum staking solution Lido unveiled its testnet launch.
- Speaking of liquid Eth2 staking, C.R.E.A.M. Finance just rolled out CRETH2, a token tied to ETH tokens deposited into C.R.E.A.M. Finance’s new Eth2 validator service.
- Nascent co-founder Dan Elitzer interviewed Molly Wintermute, the pseudonymous solo core dev of the Hegic options trading protocol. Also, Binance just listed the HEGIC token for trading.
- Upstart DeFi insurance protocol InsurAce raised a $1 million seed investment round from firms like DeFiance Capital, Huobi DeFi Labs, ParaFi Capital, and more.
- Interest tokenization protocol Idle launched its decentralized governance system.
💱 DEX Report
- ZKSwap, a layer-two trading protocol underpinned by zk-Rollups, just raised a $1.7 angel investment round.
- Meet Deriswap, a new project in Yearn’s wheelhouse combining swaps, options, and loan services into a single smart contract.
- 1inch.exchange co-founder and CEO Sergej Kunz published an awesome primer on DEX aggregators through CoinMarketCap this week.
- 1inch’s next-gen AMM Mooniswap is coming to NEAR Protocol.
- Ethereum-based IDEX is bringing its tokens to Binance Smart Chance (BSC) and Polkadot.
- The fixed-rate interest protocol 88mph published a disclosure and analysis on the “November 17th incident,” which ultimately saw the 88mph team retrieve $100,000 from an attacker.
- Interested in DODO? Be sure to check out defiprime’s new interview with DODO co-founder Diane Dai.
💵 State of the Stablecoins
- The Dai stablecoin temporarily rocketed up to $1.30 on Coinbase as people raced to buy Dai to close or lessen their DeFi lending positions amid an acutely tanking ETH price at the time. Since Compound relies on Coinbase as a price oracle, this buy pressure led to over $88 million worth of liquidations on the lending protocol.
💎 NFT News
- The artist Pak just sold “Möbius Knot” on Ethereum’s leading cryptoart platform SuperRare for 77 ETH (~$42,7200). In dollar terms, it was SuperRare’s 2nd-largest USD sale to date.
- Leading NFT marketplace OpenSea has supported nearly $30 million in volume as of this week.
Thanks for reading, and be sure to catch the 20th issue of The Defiprime Post out this time next week! 👋♦️👋