Welcome to the 8th issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between September 6th and September 13th, 2020.
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🔥 The DeFi Bulletin
- Yield aggregator powerhouse yEarn unveiled StableCredit, a novel lending and stablecoin system that blends aspects of Maker and Uniswap.
- Coinbase Pro is accepting in-bound deposits of yEarn’s YFI token on September 14th.
- Etherscan rolled out the Ethereum Yield Farms list, a tool that aggregates ongoing yield farming opportunities.
- Synthetix kicked off the Synthetix Volume Program, a fee rebate campaign for projects that natively integrate Synth exchanging.
- PieDAO launched DEFI+S, an index token that provides exposure to projects around AMMs, zkRollups, derivatives, interoperability, and asset management.
- Lending on the bZx protocol was temporarily paused to address a duplication incident among some of the project’s iTokens.
- On-chain options trading protocol Hegic held its 72-hour IBCO this week.
- Crypto hedge fund Arca published an official response to the news that it’s called on Gnosis to return funds to investors: “GNO token holders have nothing to show for … actions taken by Gnosis to date.”
- Huobi launched support for WBTC and renBTC.
- Pickle Finance, an experimental protocol that uses farming incentives to help correct stablecoin pegs, launched.
- yEarn fork Soft Yearn had a rebase flaw that netted one user 740 ETH from an initial investment of 0.5 ETH.
- Crypto exchange FTX listed futures and spot markets for Aave’s LEND token.
- Crypto exchange Binance listed UMA Protocol’s UMA token.
- Harvest Finance launched its Harvest Rewards Week 2 yield farming campaign.
- BarnBridge, a cross-platform protocol for tokenizing risk, closed a $1 million seed round.
💱 DEX Report
- Is a Uniswap token coming? It certainly seems so, if a new tweet from Uniswap creator Hayden Adams is any indication.
- On Thursday, Defiprime hosted an AMA session with 1inch co-founders Sergej Kunz and Anton Bukov.
- Meet Smoothy.finance, a new liquidity protocol that emphasizes cheap, zero-slippage swapping and “maximum interest earning.”
- Perpetual contracts exchange Perpetual Protocol kicked off its PERP token distribution this week.
- 0x-powered DEX Matcha has crossed $200 million in all-time trade volume.
- The Wizard of Dapps podcast interviewed 0xMaki, one of SushiSwap’s co-founders, about his recent experiences with the Uniswap fork. 0xMaki also appeared on Laua Shin’s Unchained podcast this week.
- Amid the SushiSwap Classic migration, SushiSwap creator Chef Nomi returned the 38,000 ETH they had previously “rug-pulled” from the project’s treasury.
- The SushiSwap community elected its first set of signers, who will use a 6-of-9 multisig to govern the SushiSwap platform and its funds.
- imToken Wallet has completed integrating the DODO decentralized exchange into its interface.
- Kyber Network published its Ecosystem Report #18.
💵 State of the Stablecoins
- The UMA Protocol team announced the uUSD yield dollar powered by renBTC collateral.
- Options and stablecoins protocol Lien listed its LIEN token on FairSwap on September 13th.
- Tether (USDT) has arrived on the Solana blockchain.
- A user mistakenly sent 1 million USDT to the Swerve Finance contract, dooming the funds.
💎 NFT News
- NFT marketplace Rarible added support for yEarn’s yInsurance policies, which is made possible courtesy of these policies being tokenized as NFTs.
- $GHST is coming, the governance token of Aave’s DeFi-centric Aavegotchi NFT project.
- ERC-2309, which lets users mint multiple NFTs with a single transaction, became an official Ethereum standard this week.
Thanks for reading, and be sure to catch the 9th issue of The Defiprime Post out this time next week! 👋♦️👋