Welcome to the 78th 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 23rd and January 30th, 2022.
🔥 The DeFi Bulletin
- Qubit Ethereum-BSC Bridge was exploited for $80M in TVL.
- Solana had network issues from January 21st to January 22nd, with the cause coming from bots spamming the network with transactions to win liquidations and trades.
- The Ethereum blog recently explained its move from Eth1 and Eth2, and towards the execution layer and consensus layer names instead.
- A group of crypto industry leaders has launched a political action committee to back candidates and influence a skeptical DC.
- Fantom recently became the third-largest DeFi protocol simply in terms of how much value is locked.
- Solidly, a project allowing low-cost, close to 0 slippage trades on uncorrelated assets, was deployed to the Fantom mainnet.
- Zora recently announced Zora V3, with features like better gas efficiency, finder’s fees, non-custodial listings, and more.
- The Block Specimen, a part of the Covalent Network, is now open-sourced.
- Wonderland, an Avalanche-based DeFi protocol, is reportedly founded by Michael Patryn, a QuadrigaCX executive.
- We recently talked with the Potion team about how they are building a web3 app that aids the creation of automatic insurance markets, where buyers and sellers can trade together at sustainable prices.
- Nansen recently released its State of the Crypto Industry Report of 2021.
- Erik Ashdown recently talked about the State of Bridges and explained 4 topics including the use case, cost, contract composability, and decentralization of bridges.
- Y Combinator alumni are joining up with Orange DAO, which aims to back web3 startups.
- Solv Protocol has received an undisclosed amount of strategic investment from Binance Labs to help its goal of growing financial NFTs.
- The Graph, a project that compares itself to Google, raised $50M with the lead investor being Tiger Global Management.
- Atomic Form, a full-stack solution for NFTs, closed its $4.5M seed funding round.
- HAL secured $3M in seed funding, during their recent integration with Aave.
💱 DEX Report
- dYdX launched Trading Leagues on January 25th, which is a program where traders can prove their ranks, and also get rewarded for elevated and consistent performance.
💎 NFT News
- YouTube looks like it’s interested in integrating NFTs into its platform, with its most recent blog post.
- dYdX announced they are distributing Hedgies, collectible NFT avatars, to traders and other people in their community on February 1st at 15:00 UTC.
- Reservoir was announced on January 25th, with the project being a web3 NFT order book protocol. The order book is open and permissionless and aggregates all liquidity into a single pool.
- $RON recently launched on January 27th, with free transactions available for those holding Axies and Land in their Ronin wallets, among other perks.
- Rentable, a renting protocol for NFTs, is now live on the mainnet and testing out Twitter PFP rentals.
- PleasrDAO, a crypto art collector, announced a $69M funding round.
- BreederDAO, a project aiming to generate NFTs at a scale, raised $10M in Series A funding, mainly from a16z.
Thanks for reading, and be sure to catch the 79th issue of The Defiprime Post out this time next week! 👋♦️👋