Welcome to the 20th 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 29th and December 6th, 2020.
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🔥 The DeFi Bulletin
- Meet xAAVE: an automated Aave staking token that generates the same returns as stkAAVE but without having to go through the protocol’s manual AAVE staking process.
- Speaking of Aave, the project just launched its improved V2 protocol.
- U.S. crypto exchange giant Coinbase is rolling out an ETH2 derivative product, so its users can enjoy liquidity while simultaneously serving as an Ethereum staker. Binance is launching its own ETH2 derivative, too.
- Get ready, because S&P Dow Jones Indices is launching cryptocurrency-based indexes next year.
- Popular DeFi lending protocol Maker is in the process of vetting new supported collateral types, like UNI and renBTC.
- Fireblocks expanded its “Fireblocks DeFi” service to support all DeFi apps.
- With all the talk of Yearn’s DeFi collaborations lately, Yearn creator Andre Cronje published a primer explaining how to make sense of the yield aggregator protocol’s recent partnerships.
- Be sure to check out the uLABS Gas Futures Token, a new tool for speculating on Ethereum gas prices.
- Tim Roughgarden’s economic analysis of EIP-1559 is out! The takeaway? This fee mechanism is a viable way forward.
- DeFi derivatives trading protocol DerivaDEX just launched an insurance mining campaign.
- Crypto venture firm Variant wrote how DeFi teams can stay closely involved with their projects through the “democratic structure of member-owned cooperatives.”
- Andre Cronje’s Keep3r project is scaling thanks to Chainlink’s decentralized oracles.
- Elastic supply project Ampleforth is expanding to the Tron, Polkadot, and NEAR blockchains.
- Kraken launched its own Eth2 staking service.
💱 DEX Report
- Yearn now has an AMM arm thanks to a new collaboration with SushiSwap. As such, the DEX can now be thought of as Yearn’s in-house trading protocol.
- To address the shortcomings of AMMs for liquidity providers, the new Peanut project is out and functions as an “advanced price balancer pool” system for DeFi.
- Should Uniswap’s UNI liquidity mining campaign be recontinued? Mika Honkasalo had a great write-up on why restarting this campaign may not be shrewd right now.
- DEX aggregator project 1inch.exchange just closed a new $12 million funding round led by Pantera Capital.
- Loopring launched its zkRollups-based AMM.
💵 State of the Stablecoins
- Inspired by the Basis stablecoin project of yore, Basis Cash is a new algorithmic stablecoin project that functions as a sort of DeFi central bank.
- The recently proposed STABLE Act would require stablecoin projects to receive a banking charter to operate in America. Coin Center aptly argued why the draft bill is nonsense.
- Binance listed Synthetix’s sUSD.
💎 NFT News
- Andreesen Horowitz hosted cryptoartists Pak and Signe Pierce for a talk about NFTs.
Thanks for reading, and be sure to catch the 21st issue of The Defiprime Post out this time next week! 👋♦️👋