Welcome to the 41st issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between May 2nd and May 9th, 2021.
Want more in-depth knowledge? We have communications over at our Telegram channel @defiprime. Check out defiprime’s latest news, interviews, guides and more with daily updates.
🔥 The DeFi Bulletin
- RariCapital exploited for $14M
- Ethereum hit $3000 days ago, and has overtaken Bank of America, the Walt Disney Company, and even Facebook in total market capitalization.
- Chainlink’s founder, Sergey Nazarov, believes that the DeFi market could swell to $1 Trillion in value in the next year.
- Robinhood servers crashed (as usual) during a Dogecoin spike, and traders aren’t happy.
- The Maker Foundation has returned Dev Fund Holdings of more than 84,000 MKR to the MakerDAO.
- Speaking of DAOs, the Open DeFi alliance has announced a new DAO to support their entire ecosystem.
- OKEx is to support direct deposits and withdrawals onto the Ethereum L2 scaling solution, Arbitrum.
- The Eth2 staking project, Lido Finance, has raised more than $73M in funding led by Paradigm.
- The Secret Network has raised more than $11.5M to further privacy and app development.
- Formation Fi has closed a $3.3M in funding through strategic sales, from early DeFi UniCorns so that they could build the Smart Yield Farming 2.0 framework.
- Dapp List has raised $1.7M from CMS and other industry heavy-weights to build a multi-chain ecosystem.
💱 DEX Report
- Uniswap V3 launched on the Ethereum mainnet.
- What are privacy-preserving contracts and how SecretSwap works? Learn about them in an interview with Secret Network’s Co-Founder Can Kisagun.
💵 State of the Stablecoins
- PayPal is holding exploratory talks about launching its very own stablecoin.
- As mass adoption continues, stablecoins are reportedly presenting new dilemmas for regulators of currency around the globe.
💎 NFT News
- EBay is reportedly very open to accepting cryptocurrency in the future, and is exploring NFTs.
- Multicoin Capital has announced a $100M fund to invest in NFT, DeFi, and other web3 projects.
- The NFT startup RTFKT has raised $8M in seed funding, led by investors like A16Z.
- Paradigm and 3LAU have backed a $7.6M raise to attempt to build a ‘NFT Social Network’.
- Upshot raised $7.5M, so that they could bring price clarity to NFTs.
- Burnt Finance have raised $3M to attempt to build an NFT Platform on the Solana Blockchain.
- Drops has closed a $1M private funding round so that they could create new value for NFTs.
- Charged Particles has raised $1M in a 10x over-subscribed seed round.
Thanks for reading, and be sure to catch the 42nd issue of The Defiprime Post out this time next week! 👋♦️👋