The Defiprime Post #22: Your Weekly DeFi News in Bite-Sized Fashion

William M. Peaster on 21 Dec 2020

Welcome to the 22nd issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between December 13th and December 20th, 2020.

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🔥 The DeFi Bulletin

  • U.S. crypto exchange giant Coinbase listed Aave (AAVE), Bancor (BNT), and Synthetix (SNX) for trading this week. The exchange is also formally preparing for its coming public offering.
  • CME Group is launching ether futures early next year, which means ETH’s entrance to the mainstream is only just beginning.
  • The U.S. CFTC’s Technological Advisory Committee just received a brief on the growth of DeFi and the ecosystem’s nascent regulatory challenges.
  • Popular Ethereum-based lending protocol Compound revealed Compound Chain, a separate blockchain that will be used to foster Compound as a central DeFi hub across many blockchains.
  • Ethereum privacy project Tornado.Cash is looking to launch a community governance system.
  • CoinDesk had a write-up this week on how yield aggregator protocol Yearn is positioning itself as the Amazon of DeFi on the heels of the project’s recent mergers.
  • Don’t miss MetaMask’s monthly report for November 2020, which details big recent updates around the browser wallet.
  • Blockchain data index project Graph Protocol launched its mainnet and saw its GRT token listed on Coinbase.
  • Meet Euler, a new decentralized lending protocol centered around reactive interest rate models.
  • Unlock Protocol unveiled Unlock Discount Tokens (UDT) in a bid to further decentralize the project.
  • DeFi777 v1 is launching.
  • Eth2 staking protocol Lido raised $2 million from investors like ParaFi Capital, Semantic Ventures, and more.
  • Smart contract auditing firm Trail of Bits discovered a vulnerability that could have “broken” Aave.
  • The StaFi Protocol team released a whitepaper for the project’s rToken staking liquidity solution.
  • PieDAO is rolling out PieVaults.
  • No-loss Ethereum savings game PoolTogether secured a seed extension from ParaFi Capital.
  • Upstart LP token lending protocol Warp Finance published a post-mortem report on the hack the project faced this week.
  • Lending protocol Maple Finance just closed a $1.3 million seed funding round via its MPL governance token.
  • FinCEN has rolled out some rushed, menacing rule proposals that would seriously crank up regulation around individual crypto wallets in the U.S.
  • DeFi on Bitcoin? It’s set to be much easier now courtesy of a new suite of tools built by Sovryn (and for RSK).
  • Binance led the Series B $12 million funding round of MATH, a cross-chain crypto wallet venture.
  • Decentralized credit protocol Union just raised $3 million.

💱 DEX Report

  • The Bonfida project, a decentralized exchange built on Solana, raised a $4.5 million seed round.
  • Decentralized exchanges DeversiFi and Loopring teamed up to create L2 Squared, an industry committee and working group focused on improving layer-two scaling solutions in the cryptoeconomy.

💵 State of the Stablecoins

💎 NFT News

Thanks for reading, and be sure to catch the 23rd issue of The Defiprime Post out this time next week! 👋♦️👋

About the author
William M. Peaster
William M. Peaster is a writer and curator of the DeFi Arts Intelligencer, a newsletter tracking Ethereum’s digital collectibles arena. He is not a financial advisor. The thoughts shared in this guest post are his opinions and reflect his personal experiences and personal optimism around Ethereum. He currently owns some cryptoart and ETH.

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