Welcome to the 93rd issue of The Defiprime Post, a quick weekly primer covering the biggest developments around Ethereum and DeFi. This week’s issue covers events between May 8th and May 15th, 2022.
🔥 The DeFi Bulletin
- New interest rate hikes have caused both traditional and crypto markets to plummet.
- Terraform Labs have made 3 emergency actions to try to save $LUNA, and $UST.
- Meanwhile, Yellen, a US Treasury Secretary, recently took the example of $UST and asked for stablecoin legislation by the end of 2022.
- Also, Senator Pat Toomey says that ‘Failure should be an option’, in response to the UST turmoil.
- Venus Protocol additionally made a statement about $LUNA and Terra.
- QuickNode and icy.tools are collaborating, joining forces to pursue one goal.
- The Compound Treasury recently got a S&P Credit Rating of B-, from S&P Global Ratings.
- 6th Man Ventures is securing $145M in funding, for their second crypto fund.
💱 DEX Report
- South Korean DEXs are ringing warning bells about the status/trading of $LUNA.
- Chainflip Labs secured $10M in funding recently to create a cross-chain DEX.
- DexGuru recently introduced and talked about a new feature of sorting Trading Volume by Trader Category.
💵 State of the Stablecoins
- $UST is currently depegged, with prices at 20 cents.
💎 NFT News
Thanks for reading, and be sure to catch the 94th issue of The Defiprime Post out this time next week! 👋♦️👋