Welcome to the 69th 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 14th and November 21st, 2021.
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🔥 The DeFi Bulletin
- Paradigm recently launched its new $2.5B venture fund. The fund is aimed at early crypto entrepreneurs and communities.
- Binance has recently finished Arbitrum One integration, and has also opened L2 Ethereum deposits.
- Coinbase is reportedly looking at supporting third-party DeFi dApps on its platform, according to its CFO.
- MetaMask has recently surpassed 21M monthly active users.
- Maple Finance has launched the first DeFi syndicated loan, which is going to Alameda Research.
- Saddle has recently announced governance token $SDL, which will be non-transferrable for 3-12 months. After 3 months, the governance may vote to enable transfers, and after 12, anyone can enable transfers.
- ConsenSys has recently raised $200M, with HSBC and Third Point being the lead investors.
- StarkWare, a Ethereum L2 dev, raised $50M in Series C funding, and the company is now valued at $2B.
- Spectral recently raised $6.75M in funding, with a goal of building a decentralized credit bureau.
- Alex, a project which aims to be a one-stop platform for fixed-rate bitcoin lending, raised $5.8M in funding.
- Snapshot, a popular DAO governance tool, recently raised $4M.
- Mem Protocol, a startup which wants to make a Web3 version of Quora, raised $3.1M in funding. The lead investor is a16z.
- Pawnfi.com, a project which wants to build and launch the first liquidity protocol for non-standard assets, raised $3M.
- Cypher, a protocol which wants to become an influential place for pre-launch price discovery, recently raised $2.1M. Their traditional futures market is on Solana.
- Polysynth, a cross-chain protocol aimed at trading advanced DeFi projects, raised $1.5M in seed funding.
- Coinbase listed $ALCX, $ENS, $GALA, $GYEN, and $POWR for their platform on the 16th of November.
💱 DEX Report
- Elrond has announced a $1.29B Majar DEX liquidity incentive program.
- ParaSwap, a DEX aggregator, launched its own token on the 15th of November
- DexGuru launched on CELO
💵 State of the Stablecoins
- Kevin O’Leary has reportedly staked stablecoins on Ethereum, and he has also stated that “the only place to find protection against inflation is in crypto”.
💎 NFT News
- NFTfi, a South-African project which hopes to allow users to use their NFTs as collateral for loans, raised $5M in funding.
Thanks for reading, and be sure to catch the 70th issue of The Defiprime Post out this time next week! 👋♦️👋