Welcome to the 31st issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between Feb. 21st and Feb. 28th, 2021.
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 is the future. Don’t take my word for it, just see Mark Cuban’s appearance on Bankless this week.
- Grayscale is looking at launching new investment products around DeFi blue-chips like AAVE, COMP, MKR, SNX, UNI, and more.
- DeFi just experienced three-month high liquidation volume as dropping crypto prices pushed many positions underwater.
- Meet Alchemix Finance, a new synthetic assets project where users’ deposited funds earn yield and automatically pay off their protocol debts.
- DeFi insurance project Cover Protocol introduced credit default swap (CDS) offerings.
- The Alpha Homora and C.R.E.A.M. teams have jointly announced a funds repayment plan in light of the recent attack on Alpha Homora that left the protocol indebted to C.R.E.A.M.
- Reflexer Labs introduce FLX, the project’s “ungovernance” token that will be used to minimally guide the future of the Rai stable asset.
- Algorithmic synthetic assets project Klondike Finance is axing KLON inflation.
- Check out Alpaca Finance, a new leveraged yield farming project.
- Furucombo was exploited!
- On-chain security protocol HAPI notched an investment from Genesis Block Ventures.
- The latest Deribits Insights issue explored why Ethereum miners will embrace EIP-1559.
- Rekt published a great write-up exploring Binance Smart Chain. defiprime also just published its own how-to guide on BSC.
- Gas tokens on Ethereum are doomed now that gas refunds are being removed.
- The Opium Protocol team is extending the vesting schedule of its OPIUM token.
- This week defiprime interviewed mStable founder James Simpson.
💱 DEX Report
- Aave and Balancer have joined forces to build the first Asset Manager system on Balancer V2.
- Derivatives exchange dYdX is now live on layer-two (L2) tech courtesy of StarkWare.
- The newly-launched Dexguru project has already facilitated $2M worth of volume.
- Will Sushiswap build out a version of its AMM on Solana? The idea’s been proposed.
💵 State of the Stablecoins
- USDT backers Bitfinex settled with the New York Attorney General’s office to the tune of $18.5M to put to rest the NYAG’s legal dispute regarding whether Bitfinex committed fraud in late 2018.
- Gyroscope, a new self-stabilizing crypto, launched its alpha testnet.
💎 NFT News
- NFTs are going mainstream, and The New York Times is paying attention.
- In a new post, Behance founder Scott Belsky said: “This NFT world is likely the greatest unlock of artist opportunity in 100+ years. This isn’t a suboptimal or fringe version of the real-world art economy, it is a vastly improved one.”
- OpenSea is integrating support for NFTs minted on the Flow blockchain.
- NFT lending platform NFTfi just raised $890k in new funds.
- Gaming giant Atari is going L2 via Polygon (formerly Matic).
- Andreesen Horowitz published “NFTs and 1,000 True Fans,” don’t miss this one!
Thanks for reading, and be sure to catch the 32nd issue of The Defiprime Post out this time next week! 👋♦️👋