DeFi Recap: Assets

Citadel.One
Dec 25, 2020 · 5 min read

Biweekly update, 4th December — 18th December

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Welcome to the DeFi Report curated by Citadel.one team! We picked up 4 leading DeFi projects for you to keep track of the most important governance votes, discussions, and incentives. The general market overview, selected metrics, articles, and hot tweets — it’s time for our DeFi Recap. Let’s get started!

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Market Overview

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Source: defipulse.com (WBTC was delisted from DeFi Pulse Assets)
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Source: defipulse.com
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Source: duneanalytics.com
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Assets

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Website: wbtc.network
Value Locked: $2.8B

Wrapped Bitcoin ‘Burns’ Increase as Traders Rotate Capital Out of Cooling DeFi
Wrapped bitcoin, the bitcoin-backed token on Ethereum now worth over $2 billion, has seen an increase in burns (or “unwrappings”) by some of its largest users as the Ethereum-based decentralized finance sector continues to cool.

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Pillar Wallet users can now easily convert BTC directly to WBTC

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Harvest Finance

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Platform: harvest.finance
Value Locked: $494.9M

  1. Arbitrage bot onchain smart contract

🎄Week 17 — 🌿 420 and ♋ 69 in the Festive Season!
In addition to another amazing UI holiday update from Harvest community, the team is excited to be working closer with collaborators such as Dharma who is building the Robinhood for Crypto. Harvest Finance team is looking forward to more collaborations similar to this and Hoo listing in the new year. Read on to see what’s been going on!

Harvest Finance ‘Farm Arts’ Creativity Contest ROUND 4 — Festive Edition
🧑‍🌾🙏 Farmers! The Harvest team thanks you for taking the time to participate in the Creativity Competition, “Surviving a Harsh Winter on the Farm”. The team points out again that they were astounded by the number of amazing entries that came in. Round 4 details are in the article, so take a look.

Harvest Finance Christmas Community Art

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Yearn Finance

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Website: yearn.finance
Value Locked: $460.5M
Governance:
gov.yearn.finance

YFI Pulse 12.23 — Pickled Sushi, ETH 2.0 Staking Vault, Happy Holidays from Yearn!
Welcome to YFI pulse the daily newsletter about all things happening YFI. Sometimes short, sometimes long but you can count on it every day!

yvSNX v2 Vault <> Curve strategies
Curve launched an ETH/sETH pool. They have several pools with Synthetic tokens represented in them (sUSD, sEUR, sBTC, etc.).
With the farming opportunities of both SNX and CRV, they make an excellent option for multiple strategies to be written using SNX to mint synth tokens and stake into Curve. With Synthetix unique ability to allow cross-synth swaps with no slippage and a low fee, combined with Curve’s ability to allow large token <> synth swaps at very low slippage and a low fee, this seems like a natural powerhouse asset type for a set of strategies in a new v2 Vault.

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RenVM

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Platform: renproject.io
Value Locked: $365.2M

OpenDAO Integrates RenVM
Over the last few months, OpenDAO has been working closely with the Ren and UMA teams to build a new interface for the Yield Dollar (yDollar) which will eventually transition to the USDO stablecoin minter.

Equilibrium And Ren Have Partnered To Scratch Each Other’s Backs In DeFi
Equilibrium and Ren are teaming up to mutually beneficial ends. Equilibrium will gain access to RenVM’s BTC bridge on Polkadot, and RenVM will see increased demand for its services as a fresh surge of users peg in and out of BTC.

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About Citadel.one

Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.

The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we are standardizing the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.

One of the main functions of the Citadel.one platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.

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Among PoS platforms Citadel.one supports Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST, Orbs, and Tezos ($XTZ). For our user’s convenience we also support Ethereum, Bitcoin, and Tether ($USDT). Mobile and desktop versions, new networks, including Polkadot and Ontology, are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization we envision Citadel.one a decentralized autonomous organization and a truly community owned platform in the nearest future.

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