Welcome to the 70th 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 21st and November 28th, 2021.
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🔥 The DeFi Bulletin
- dYdX was recently made aware of an exploit with a new contract, and while no funds are lost, users who have set allowance to deposit funds to trade.dydx.exchange must complete recovery steps before using their wallet again.
- A bug on OlympusDAO’s part allowed a user to buy $1.43M in $OHM for just 50K USD.
- The EU recently proposed a regulatory framework for crypto-assets, in which the EU holds a bigger regulatory position for EU citizens, and will encourage innovation but crack down upon unregulated stablecoins, shady projects, and unprofessional exchanges.
- Pantera Capital started up a new $600M crypto fund, with 75% of the contributions coming from institutional investors.
- Recently ConstitutionDAO tried to buy a copy of the US Constitution. It ended up becoming a terrible $43M mess, with lots of fighting among DAO members and most donors realising they will have their investment totaled by fees.
- DappRadar, a crypto data firm, announced that they are set to launch their own token. The name of the token is Radar, in an attempt to decentralize their operations.
- Colony recently opened up registration for their token sale of $CLNY, with the actual sale taking place on December 14th, at 12 UTC.
- Krause House, another DAO, aims to buy an NBA team, with them raising their goal of 200 ETH within the first 15 minutes.
- Synthetix recently described how they will implement the second phase of V2x for their protocol, also known as Debt Pool Synthesis.
- Zapper, a dashboard for DeFi, recently celebrated 1M MAUs, along with receiving $10B in transaction volume and 100K twitter followers.
- Gearbox Protocol recently underwent changes, in which contributors suggested things like leveraged stablecoin trading-farming, and generalized leverage.
- Silo Protocol recently conducted its first public token auction on the Gnosis platform, with the main goal being to raise protocol-owned liquidity for Silo’s DAO.
💱 DEX Report
- In the month of November, all DEXs total reached a monthly volume of almost $100B.
- dYdX introduced gasless deposits on November 24th, with new traders getting gas covered if they deposit at least $1K for their first transaction, and for existing traders the minimum is $2K, limited to every 3 days.
💎 NFT News
- Rarible, an NFT marketplace, recently launched a messaging feature for their platform. Along with this, users can connect through wallet addresses rather than usernames.
- Arca, a crypto investment firm, announced a $30M fund on November 15th, dedicated to specifically NFTs. The fund raised $11.4M as of the 24th of November .
Thanks for reading, and be sure to catch the 71st issue of The Defiprime Post out this time next week! 👋♦️👋