DeFi Recap: Assets
Biweekly update, 4th December — 18th December
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!
Market Overview
Top Assets
TVL in Assets ($USD)
Gas Cost for Typical Actions
Assets
Wrapped Bitcoin
Website: wbtc.network
Value Locked: $2.8B
Article
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.
Tweet
Video
Pillar Wallet users can now easily convert BTC directly to WBTC
Harvest Finance
Platform: harvest.finance
Value Locked: $494.9M
Open Votes: 1
Article
🎄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.
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Harvest Finance Christmas Community Art
Yearn Finance
Website: yearn.finance
Value Locked: $460.5M
Governance: gov.yearn.finance
Article
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!
Discussion
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.
Tweet
RenVM
Platform: renproject.io
Value Locked: $365.2M
Article
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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