Welcome to the 76th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between January 9th and January 16th, 2022.
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🔥 The DeFi Bulletin
- dYdX recently announced V4 of their protocol, with the main goal being fully decentralizing their platform.
- A lawsuit filed against PoolTogether, a blockchain app that gamifies savings by crypto holders, is challenging DeFi’s claims that its protocols are autonomous and self-governed.
- NEAR, a development platform built on their sharded PoS L1 blockchain raised $150M from high-profile investors.
- The Gnosis Protocol recently rebranded to CoW protocol, citing their community and their soon-to-be token as additional causes.
- Andre Cronje talked a week ago also about ve(3,3) , a new protocol, its initial distribution, competition, and how they’re building a protocol for protocols.
- Paragons DAO recently made the decision with its community to increase the community’s allocation of tokens to 32.9%.
- EPNS, a decentralized notification protocol, recently went live on the Ethereum mainnet on January 11th.
- Platypus Finance has launched the Stableswap Protocol on Avalanche.
- Neufund, a Berlin-based viable security token business on ETH, was shut down due to regulatory uncertainty.
- The Set Protocol also launched on the Optimism blockchain.
- Web3Auth, a project aiming at simplifying crypto onboarding and auth, achieved $13M in funding on the 12th of January.
- Bribe Protocol closed a $4M seed funding round, campaigning their objective of bringing around voter extractable value to DAOs with the project.
- Entropy, a decentralized asset custody protocol, raised $1.95M in funding.
💱 DEX Report
- DexGuru went live on Optimism on the 11th of January, with full trading support.
💎 NFT News
- LooksRare, an NFT marketplace, recently announced their tokenomics and airdrop, along with talking again about what their project really is.
- Flip, an NFT aggregator co-founded by the podcast host of UpOnly Brian Krogsgard, raised $6.5M in seed funding.
- As part of IreneDAO, a DAO dedicated to Instagram model Irene Zhao, 1,107 NFTs were minted including the model, with the NFTs trading at 1.25 ETH already, and them serving as a pass to the “Genesis Tribe” of the DAO.
- A man listed 933 selfies as NFTs for $3 each starting out, however, the collection ended up becoming worth millions.
💵 State of the Stablecoins
- Tether froze $160M in USDT stablecoins on the 13th of January on the Ethereum blockchain for being tagged as suspicious by law enforcement.
- The USDF Consortium, a group made up of members from the NY Community Bank, FirstBank, and Sterling National Bank has formed, with the goal of offering a USDF stablecoin.
- USDC’s supply of ETH has surpassed USDT’s for the first time on January 15th.
Thanks for reading, and be sure to catch the 77th issue of The Defiprime Post out this time next week! 👋♦️👋