Welcome to the 65th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between October 17th and October 24th, 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
- Polygon dodged an $850M hack recently, while also paying a record $2M bounty to a white hat hacker who discovered the security vulnerability.
- $16M was recently pilfered in an exploit of Indexed Finance, and the alleged attacker is refusing to return the funds.
- The Yearn developer, Matt West, is to run for Congress on a pro-crypto platform as a Democrat.
- FATF, a global anti-money-laundering watchdog, recently finalized its plans on crypto guidance but does not have plans to publish them until next week.
- A Goldman Sachs report on Friday recently said that DeFi can offer certain advantages compared to traditional finance.
- Facebook’s Novi wallet is to launch soon, but it will launch with Paxos’ stablecoin ($USDP) instead of Diem.
- Hindenburg Research, a financial research firm, recently announced a $1M bounty for details on Tether’s backing.
- Parallel, a sci-fi card game based on the Ethereum blockchain, has reportedly raised $50M from the VC firm Paradigm, while they are also valued at $500M.
- Proximity Labs, an a16z backed blockchain, recently announced the creation of a $350M grants vehicle to build dApps.
- Multicoin Capital is to soon raise $250M for its third crypto fund, less than six months after it raised $100M for its second crypto fund.
- Variant has also announced its second fund, with a $110M valuation, aimed at funding platforms, infrastructure, and generally DeFi.
- Element Finance has recently raised $32M in Series A funding, with the lead investors being Polychain Capital and a16z.
- Obol Technologies, founded by a former executive of ConsenSys, has recently raised $6.15M to build their crypto staking protocol.
- The Lending platform Sublime also recently raised $2.5M. Their main goal is to help borrowers access loans depending on their digital identity, and their on-chain history.
- Polynomial was recently funded by Acrylic, Genblock Capital, and Caballeros Capital with $1.1M.
💱 DEX Report
- SushiSwap recently increased liquidity mining efficiency by 5x, and also added $300M in daily volume with the Gauntlet platform.
- Sommelier, a DeFi project which wants to help automate trading, raised $23M in Series A funding.
💎 NFT News
- Reddit is reportedly seeking a senior engineer, to help them build an NFT marketplace, and also scale its Ethereum-based crypto token rewards program.
- PsyOptions has raised $3.5M, to help them create options liquidity mining, and NFT derivatives.
Thanks for reading, and be sure to catch the 66th issue of The Defiprime Post out this time next week! 👋♦️👋
