Welcome to the 7th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between August 30th and September 6th, 2020.
🔥 The DeFi Bulletin
- yEarn has become a significant stakeholder in the governance of stablecoin exchange Curve. yEarn also saw major excitement around the launch of its yETH Vault this week.
- Before Nomi Chef’s skeevy Sushiswap rug pull, i.e. a major $SUSHI sell-off, crypto exchanges FTX and Binance listed $SUSHI.
- Nomi Chef, now persona non grata in crypto, ended up sending admin control of Sushiswap to FTX and Alameda Research CEO Sam Bankman-Fried.
- Binance also listed WBTC, the most popular ERC-20 BTC on Ethereum to date. Relatedly, there’s now $500 million worth of bitcoin tokenized on Ethereum.
- Elastic supply project Yam Finance published its “Road to V3” plans. As part of the roadmap, uses who voted to save the original Yam protocol are going to receive bonus YAMv3 rewards.
- bZx co-founder Kyle Kistner was a guest on The FTX Podcast. The talk comes as the bZx project launched its comeback this week.
- Crypto hedge fund Arca called on Gnosis to return money to investors, arguing the project hasn’t delivered value to token holders.
- Crypto exchange Huobi kicked off a liquidity mining campaign, which offers HT stakers rewards from a USDT pool worth $10 million.
- Don’t miss the Smart Contract Summit’s all-star DeFi panel talk, featuring Chainlink’s Sergey Nazarov, yEarn’s Andre Cronje, Aave’s Stani Kulechov, and Synthetix’s Kain Warwick.
- Coinbase Pro listed UMA Protocol’s UMA token.
- BarnBridge, a cross platform protocol for tokenizing risk, hit the scene.
- Torus Labs released a one-click Chrome browser extension for its web 3.0 Torus wallet.
- Two strangely similar elastic-supply projects launched within hours of each other: Dollar Protocol and døllar.
💱 DEX Report
- The new DODO liquidity provider project launched the “Grey Parrot” phase of its wider DODO Carnival incentive campaigns.
- Meet Pine Finance, an evolution of UniswapEx that supports any order type, e.g. limit orders, on any DEX.
- defiprime interviewed Anton Bukov, the co-creator of 1inch.exchange and Mooniswap.
- Derivatives exchange Opium rolled out credit default swaps for USDT.
- Community-owned DEX project KeyKey was unveiled.
- Swerve, a fork of Curve, reached a TVL of over $380 million within 12 hours of launching.
- Perpetual contracts exchange Perpetual Protocol has deferred its mainnet launch due to high gas prices.
💵 State of the Stablecoins
- Options and stablecoins protocol Lien launched on the Ethereum mainnet.
- Gemini exchange co-founder Tyler Winklevoss submitted proposals to add Gemini Dollar (GUSD) support to Curve, Compound, and Aave. The moves come as the MIP6 proposal to add GUSD as a MakerDAO collateral type just passed.
💎 NFT News
- NFT minting platform Mintbase is turning to NEAR Protocol as a scaling alternative to Ethereum 1.0.
- yEarn launched yinsure, an NFT-based tokenized insurance policy product that can provide cover for activities on Balancer, Compound, Curve, and more.
Thanks for reading, and be sure to catch the 8th issue of The Defiprime Post out this time next week! 👋♦️👋