DeFi in Ether: Augur Turbo launches using Chainlink on Polygon; Gnosis Safe’s multichain future with Polygon, Arbitum, & BSC; Opium & UMA to launch decentralized insurance for SpaceX flights; Balancer v2 now live; Coinbase Wallet extension announced; Optimism integrates with Etherscan; 1inch turns 2, and more!

Biweekly update on Ethereum DeFi ecosystem vol.30 🎉, 11th May — 25th May

TL;DR

• $60B in DeFi this week, currently at ~ $59.5B, with Maker dominance 15.62%.
• Launching Augur Turbo: Fast-Resolving Daily Markets Using Chainlink on Polygon: The six-year-old prediction platform is chasing the surging sports betting market by building with Chainlink and Polygon. Augur Turbo will rely on Chainlink’s oracle network, or a way to feed external data into programmable smart contracts. With the Chainlink integration, users can create betting markets for the National BasketBall Association, Major League Baseball, Mixed Martial Arts and the Olympics. Support for the National Football League, college football, soccer, tennis, golf and esports will soon follow. Chainlink will deliver data such as schedules, post-game scores, team and player stats. Augur Turbo’s prediction markets will rely on Chainlink data to settle bets immediately after a market closes. The move to Polygon highlights Augur’s desire to capture more users.
• UMA’s Optimistic Oracle is live: The oracle can be used to resolve markets and bring all types of data on-chain. It is not limited to use only for UMA financial contracts, but can be “plugged into” by any DeFi protocol. Opium and UMA to launch decentralized insurance for SpaceX flights: The partnership will see Opium plug into UMA’s Optimistic Oracle product to provide financial derivatives for hedging risks related to SpaceX flights.The derivatives work as binary options contracts, allowing users to purchase insurance against a failed launch on SpaceX, the Elon Musk-founded space-transportation services company. SpaceX’s SmallSat Rideshare flights allow multiple payloads to share launches into space, so bookers can send smaller, lighter payloads. The first launch of its kind took place Jan. 24, when a Falcon 9 rocket transported 143 satellites into space. BadgerDAO’s “Rebase Mining” Kicks Off Now Using UMA’s KPI Options. UMA’s ICYMI #15 & ICYMI #14.
• Gnosis Safe’s Multichain Future: Rolling out Gnosis Safe on L2s and EVM-compatible networks. Gnosis plans to roll out multisig vaults to manage assets on Polygon, Arbitum, and BSC over the next few months, adding to the multitude of protocols designed for base-layer Ethereum making the jump to L2 chains to build out their respective ecosystems. Announcing Gnosis Protocol v2 Bug Bounty: Find the bugs, get rewarded. Earn up to $50,000 for every bug you report.
• Coinbase wallet extension announced: The extension allows users to more easily and securely connect to decentralized apps (dapps) and decentralized finance (DeFi) on their desktops using Coinbase Wallet.
• Optimism integrates with Etherscan: Optimism unveiled optimistic.etherscan.io, their collaboration with Etherscan, the premier block explorer and analytics platform for Ethereum.
• Balancer V2 now live: Balancer v2 comes with a host of new features including a new interface, new BAL liquidity mining program, dynamic fee pools and more. Capital-Efficient AMMs With Dynamically Adjusted Weights In Balancer V2: PowerPool shares a dynamic weights AMM concept and its implementation on top of Balancer V2. Balancer Liquidity Migration Tutorial. The latest Balancer Report is here.
• 1inch turns 2! 1inch Network expands to Polygon: The expansion provides 1inch users with access to multiple liquidity sources on Polygon such as Curve, SushiSwap, QuickSwap, Aave V2 and Cometh. Meet the 1inch Network’s swap API for Polygon: Following a recent expansion to Polygon, the 1inch Labs team released an API for swaps in the network. How the 1inch Network gives access to multiple liquidity sources: This is the second post in a series on the advantages offered by the 1inch Network. It explains how 1inch offers access to multiple liquidity sources. 1inch has just integrated sETH Wrapper.
• Decentralising mStable: 2021: This decentralisation journey applies to the entire industry. This post is the first of a two-part series on decentralising mStable, it focuses on mStable specifically and where they are taking the protocol. Two new proposals are now up for voting. Vote closes 29 May 2021.
• MLN has been added to the SushiSwap Onsen menu: Find out more about what this means and how to get involved in this post. Idle now live on Enzyme carving out the path for meta-yield strategies. The Curve Lido Pool is рere and Unslashed to launch the first Lido yield strategy on Enzyme.
• BTC2x-FLI, by Index Coop & Pulse introduced: The Bitcoin Flexible Leverage Index marks the second product in the FLI series. Understanding the ETH2x-FLI Premium: A quick post-mortem of the ETH2x-FLI price dislocation. How to Buy Index Coop Products.
• In the last Yearn Finance Newsletter #33: $20M in revenue earned since launch; total value locked has reached $4.5b; Yearn has purchased an additional 8.15 YFI for $408K; yVaults v1 to v2 migration is live; WOOFY has gone MultiChain; two new Pickle Jars launched by Pickle Finance; Vaults at Yearn. YIP-62: Change Two Multisig Signers is now live on the Snapshot. Check out new Proposal: Own The Land On Which We Operate.
• The Nash fiat gateway is live on the Aave UI. Join the team for the next Aave community call on May 27. Latest Aave weekly.
• Compound Proposal 45 Add TUSD Support executed on May 21st, 2021. Proposal 46 Add LINK Support executed on May 22nd, 2021.
• The Maker Foundation Focuses On Its Dissolution: Dissolution of the Maker Foundationis targeted for, at latest, December 31, 2021. Logistical actions will need to be taken and progress reports will be published. Governance Poll: Whitelist B.Protocol on WBTCUSD Oracle (MIP10c9-SP27 and MIP10c9-SP28): The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. This Governance Poll will be active for three days beginning on Monday, May 24 at 16:00 UTC. An Executive Vote has been added to the Maker voting portal to approve May 2021 Governance Cycle.
• xDai weekly recap focuses on network and protocol metrics, projects & more.
• 0x hit over $1B in 24hr volume for the first time. 0x Ecosystem Update #12: With over $3B in volume last week, dozens of new integrations, and accelerating multi-chain expansion, it has been a busy few months for 0x.
• A little dash of hÖpΞm: A long and healthy update from Synthetix where founder Kain announces that there are 3 new protocols spinning out of the Synthetix ecosystem that will have their own tokens (airdropped to SNX holders) and popular Synthetix front-end will also be joining the party. On top of that, an update on the Synthetix layer 2 rollout is given. The Alioth Release: On May 13th, two new updates were added to the protocol. Repository Mirroring on Radicle: Synthetix has been experimenting with using Radicle to decentralize how we coordinate development. As a result, you can view Synthetix repositories on our Radicle page. Thales Secures Seed Funding From synthetixDAO: Thales is a Binary Options project being built by Synthetix community members and funded by the synthetixDAO. SNX staking is now live on Yearn.
• SNX-USD Perpetual Markets are live for trading on Layer 2. dYdX Perpetual trading on Layer 2 is now live on Hummingbot. Sixtant AMA Recap.
• Bancor Weekly Dev Update was published. BNT trading is now live on Kraken.
• Kyber Ecosystem Report 26 Apr-May’21 is out. Binance has completed the KNC migration Latest Kyber Weekly Blitz.
• Raiden weekly number 170 is out. This issue covers: Scaling Ethereum hackathon winner (Raiden on Optimism); new Bespin release candidate; new Raiden Service Bundle release.
• Loopring: Welcome to the Future: A complete guide to the Loopring Layer-2 ecosystem. Loopring announces a collaboration with DAOSquare and an exclusive lucky draw for Loopring Smart Wallet users. Initial Wallet Offering (IWO) introduced. Loopring Creator Grants announced: There are $5,000 in grants up for grabs every quarter to be given out to budding content creators that produce educational content such as tutorials or guides. Loopring Smart Wallet RICE Party Event Recap. Loopring Wallet RICE Party Winners List. AMA Series: ICHI.
• Uniswap V3 is now live in ParaSwap UGP Wave 3 — V3 for the People: Awarding $448,300 to 10 projects promising to make v3 even more accessible and engaging the Uniswap community on a deeper level. There have been reports of a malicious spam email claiming an “ongoing upgrade to the UNI token and a new v3 liquidity mining program”. This is a phishing scam attempt. If you received this email it is recommended that you delete it and avoid clicking any links it contains.
• Connext introduces virtual AMMs and liquidity auctions: Virtual AMMs let routers price crosschain transfers based on available liquidity which creates an incentive for arbitrageurs to rebalance liquidity for a profit. Liquidity auctions route transfers to whatever router can supply liquidity most cheaply which enables aggregating and load balancing liquidity between different routers.
• Alpha Homora V2 live on Ethereum: Get access to leveraged yield farming with Alpha Homora and partners including Cream Finance, Uniswap, SushiSwap, Curve and Balancer.
• MISO now live: The Sushiswap ecosytem’s new token sale platform went live this week — the first sales will go live soon.
• Maple Protocol deployed to mainnet: Maple’s decentralized corporate debt marketplace will grant crypto-native companies access to on-chain growth capital.
• Alchemix integrates with Chainlink: Alchemix has integrated Chainlink price feeds for ALCX, alBTC, alUSD and alETH.
• Rainbow Web Profiles launched: The beautiful NFT viewing experience you’ve come to know & love inside the Rainbow app has been unleashed across the entire Ethereum network.
• BairesDAO announced: BairesDAO is a group of individuals from Argentina who have banded together to invest in founders who are building products within DeFi.
• Woofy token announced: Woofy allows you to be exposed to a lighthearted dog coin and the DeFi darling blue chip (YFI) at the same time.
• Zapper raises $15 million series A: Zapper, the decentralized finance (DeFi) dashboard, has raised $15 million in a Series A round led by Framework Ventures. The round was joined by Ashton Kutcher’s Sound Ventures as well as Mark Cuban.
• MCDEX raises $7 million: The round was led by Delphi Ventures and Alameda Research with participation from other funds and angels.
• DeversiFi completes strategic round: The $5 million round was led by ParaFi Capital with participation from DeFiance Capital, Lightspeed Ventures, StarkWare and more along with various angels.
• Handle Finance closes strategic round: Participants in this round include QCP capital, OKEX Ventures, Genblock Capital and many others.
• Unofficial Ethereum Q1 2021 results.
• How DeFi performed during the market volatility.
• Bringing Privacy to DeFi.
• DeFi Beyond the Hype Report by Wharton.
• Curve Finance — The Stablecoin Exchange Protocol on Epicenter.
• And more!

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Total Value Locked in DeFi

About $60B in DeFi this week, currently at ~ $59.5B, with Maker dominance 15.62%. Two weeks ago it was $81B TVL.

Source: defipulse.com

Top DeFi Tokens by Market Capitalization

Total Market Cap: $72,015,737,369

Source: defimarketcap.io

DeFi Aggregators

mStable:

• Decentralising mStable: 2021: This decentralisation journey applies to the entire industry. This post is the first of a two-part series on decentralising mStable, it focuses on mStable specifically and where they are taking the protocol.
• Two new proposals are now up for voting. Vote closes 29 May 2021.

yEarn.finance:

In the last Yearn Finance Newsletter #33:

• $20m in revenue earned since launch
• Total value locked has reached $4.5b
• Yearn has purchased an additional 8.15 YFI for $408K
• yVaults v1 to v2 migration is live
• WOOFY has gone MultiChain
• Two new Pickle Jars launched by Pickle Finance
• Vaults at Yearn
• YIP-62: Change Two Multisig Signers is now live on the Snapshot.
• Check out new Proposal: Own The Land On Which We Operate

Lending

Aave:

• The Nash fiat gateway is live on the Aave UI
• Join the team for the next Aave community call on May 27
• Latest Aave weekly:

Compound:

• Compound Proposal 45 Add TUSD Support executed on May 21st, 2021
• Proposal 46 Add LINK Support executed on May 22nd, 2021

Maker:

• The Maker Foundation Focuses On Its Dissolution: Dissolution of the Maker Foundationis targeted for, at latest, December 31, 2021. Logistical actions will need to be taken and progress reports will be published.
• Governance Poll: Whitelist B.Protocol on WBTCUSD Oracle (MIP10c9-SP27 and MIP10c9-SP28): The Governance Facilitators have placed a Governance Poll into the voting system on behalf of the Oracle Domain Team. This Governance Poll will be active for three days beginning on Monday, May 24 at 16:00 UTC.
• Governance Polls: Greenlight Polls, Liquidations 2.0 Framework, and more
• Parameter Changes and Oracle Updates
• Executive Vote: Approve May 2021 Governance Cycle: The Governance Facilitator(s) and the Protocol Engineering Core Unit have placed an executive proposal into the voting system. MKR Holders should vote for this proposal if they support the following alterations to the Maker Protocol.
• How and Why to Replace Your Ethereum Address with a User-Friendly Name: Replacing a long alphanumeric Ethereum address with a short, memorable name using the Ethereum Naming Service is simple and offers a number of benefits.
• What are Ethereum Tokens? A Guide to the Asset Types of DeFi: Most Ethereum blockchain tokens fall into just a handful of general categories. Understanding token types can make navigating the DeFi ecosystem easier.

xDai:

• xDai weekly recap focuses on network and protocol metrics, projects & more:

Derivatives, Swaps and Prediction Markets

Augur:

• Launching Augur Turbo: Fast-Resolving Daily Markets Using Chainlink on Polygon: The six-year-old prediction platform is chasing the surging sports betting market by building with Chainlink and Polygon. Augur Turbo will rely on Chainlink’s oracle network, or a way to feed external data into programmable smart contracts. With the Chainlink integration, users can create betting markets for the National BasketBall Association, Major League Baseball, Mixed Martial Arts and the Olympics. Support for the National Football League, college football, soccer, tennis, golf and esports will soon follow. Chainlink will deliver data such as schedules, post-game scores, team and player stats. Augur Turbo’s prediction markets will rely on Chainlink data to settle bets immediately after a market closes. The move to Polygon highlights Augur’s desire to capture more users. Fellow prediction market Polymarket built on Polygon (then known as Matic) last fall and found success in serving crypto-savvy election watchers.

Launching Augur Turbo: Fast-Resolving Daily Markets Using Chainlink on Polygon

• Augur Beta Testing, NBA Futures, and Crypto Price Action: Beta testing on L2 .

dYdX:

• SNX-USD Perpetual Markets are live for trading on Layer 2
• dYdX Perpetual trading on Layer 2 is now live on Hummingbot
• Sixtant AMA Recap:

Gnosis:

• Gnosis Safe’s Multichain Future: Rolling out Gnosis Safe on L2s and EVM-compatible networks. Gnosis plans to roll out multisig vaults to manage assets on Polygon, Arbitum, and BSC over the next few months, adding to the multitude of protocols designed for base-layer Ethereum making the jump to L2 chains to build out their respective ecosystems.

• Announcing Gnosis Protocol v2 Bug Bounty: Find the bugs, get rewarded. Earn up to $50,000 for every bug you report.

UMA:

• UMA’s ICYMI #15 & ICYMI #14
• UMA’s Optimistic Oracle is live: The oracle can be used to resolve markets and bring all types of data on-chain. It is not limited to use only for UMA financial contracts, but can be “plugged into” by any DeFi protocol.
• Opium and Uma team up: Opium and UMA have combined their efforts and tools to show how off-chain data can be brought to Ethereum to grow the DeFi ecosystem.
• Opium and UMA to launch decentralized insurance for SpaceX flights: The partnership will see Opium plug into UMA’s Optimistic Oracle product to provide financial derivatives for hedging risks related to SpaceX flights.The derivatives work as binary options contracts, allowing users to purchase insurance against a failed launch on SpaceX, the Elon Musk-founded space-transportation services company. SpaceX’s SmallSat Rideshare flights allow multiple payloads to share launches into space, so bookers can send smaller, lighter payloads. The first launch of its kind took place Jan. 24, when a Falcon 9 rocket transported 143 satellites into space.
• BadgerDAO’s “Rebase Mining” Kicks Off Now Using UMA’s KPI Options
• Crypto.com, Yam Finance, and UMA to Collaborate on a Suite of NFT Products

Fund Management

Enzyme Finance (formerly Melon):

• MLN has been added to the SushiSwap Onsen Menu: Find out more about what this means and how to get involved in this post.
• Idle Now live on Enzyme carving out the path for meta-yield strategies
• The Curve Lido Pool is рere and Unslashed to launch the first Lido yield strategy on Enzyme

Set Protocol & Index Coop:

• BTC2x-FLI, by Index Coop & Pulse introduced: The Bitcoin Flexible Leverage Index marks the second product in the FLI series.

• Understanding the ETH2x-FLI Premium: A quick post-mortem of the ETH2x-FLI price dislocation
• How to Buy Index Coop Products

Securities, Insurance and NFTs

Nexus Mutual:

• Some updates on what the team have been working on recently

Liquidity Relays

0x project:

• 0x hit over $1B in 24hr volume for the first time

• 0x Ecosystem Update #12: With over $3B in volume last week, dozens of new integrations, and accelerating multi-chain expansion, it has been a busy few months for 0x.

0x Ecosystem Update #12

• 0x Community Spotlight — Nikita, Community Ambassador

1inch:

• 1inch Network expands to Polygon: The expansion provides 1inch users with access to multiple liquidity sources on Polygon such as Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.
• Meet the 1inch Network’s swap API for Polygon: Following a recent expansion to Polygon, the 1inch Labs team released an API for swaps in the network.
• How the 1inch Network gives access to multiple liquidity sources: This is the second post in a series on the advantages offered by the 1inch Network. It explains how 1inch offers access to multiple liquidity sources.
• 1inch has just integrated sETH Wrapper.

Balancer:

• Balancer V2 now live: Balancer v2 comes with a host of new features including a new interface, new BAL liquidity mining program, dynamic fee pools and more.
• Capital-Efficient AMMs With Dynamically Adjusted Weights In Balancer V2: PowerPool shares a dynamic weights AMM concept and its implementation on top of Balancer V2.
• Balancer Liquidity Migration Tutorial.
• The latest Balancer Report is here.

The Balancer Report

Bancor:

• Weekly Dev Update
• BNT trading is now live on Kraken

Kyber:

• Kyber Ecosystem Report 26 Apr-May’21 is out.
• Binance has completed the KNC migration
• Latest Kyber Weekly Blitz:

Loopring:

• Loopring: Welcome to the Future: A Complete Guide to the Loopring Layer-2 Ecosystem
• Loopring Smart Wallet RICE Party Event Recap
• Loopring Wallet RICE Party Winners List
• Loopring announces a collaboration with DAOSquare and an exclusive lucky draw for Loopring Smart Wallet users
• Introducing Initial Wallet Offering (IWO)
• Loopring Creator Grants announced: There are $5,000 in grants up for grabs every quarter to be given out to budding content creators that produce educational content such as tutorials or guides.
• Loopring AMA Series: ICHI

Uniswap:

• Uniswap V3 is now live in ParaSwap
• UGP Wave 3 — V3 for the People: Awarding $448,300 to 10 projects promising to make v3 even more accessible and engaging the Uniswap community on a deeper level.
• There have been reports of a malicious spam email claiming an “ongoing upgrade to the UNI token and a new v3 liquidity mining program”. This is a phishing scam attempt. If you received this email it is recommended that you delete it and avoiding clicking any links it contains.

Payments Networks

Raiden Network:

Raiden weekly number 170 is out. This issue covers:

• Scaling Ethereum hackathon winner (Raiden on Optimism)
• New Bespin release candidate
• New Raiden Service Bundle release

Synthetix:

• A little dash of hÖpΞm: A long and healthy update from Synthetix where founder Kain announces that there are 3 new protocols spinning out of the Synthetix ecosystem that will have their own tokens (airdropped to SNX holders) and popular Synthetix front-end will also be joining the party. On top of that, an update on the Synthetix layer 2 rollout is given.
• The Alioth Release: On May 13th, two new updates were added to the protocol. Repository Mirroring on Radicle: Synthetix has been experimenting with using Radicle to decentralize how we coordinate development. As a result, you can view Synthetix repositories on our Radicle page.
• Thales Secures Seed Funding From synthetixDAO: Thales is a Binary Options project being built by Synthetix community members and funded by the synthetixDAO.
• SNX staking is now live on Yearn.

More updates

• Coinbase wallet extension announced: The extension allows users to more easily and securely connect to decentralized apps (dapps) and decentralized finance (DeFi) on their desktops using Coinbase Wallet.

• Optimism integrates with Etherscan:Optimism unveiled optimistic.etherscan.io, their collaboration with Etherscan, the premier block explorer and analytics platform for Ethereum.
• Rainbow Web Profiles launched: The beautiful NFT viewing experience you’ve come to know & love inside the Rainbow app has been unleashed across the entire Ethereum network.
• Alpha Homora V2 live on Ethereum: Get access to leveraged yield farming with Alpha Homora and partners including Cream Finance, Uniswap, SushiSwap, Curve and Balancer.
• Connext introduces virtual AMMs and liquidity auctions: Virtual AMMs let routers price crosschain transfers based on available liquidity which creates an incentive for arbitrageurs to rebalance liquidity for a profit. Liquidity auctions route transfers to whatever router can supply liquidity most cheaply which enables aggregating and load balancing liquidity between different routers.
• MISO now live: The Sushiswap ecosytem’s new token sale platform went live this week — the first sales will go live soon.
• Maple Protocol deployed to mainnet: Maple’s decentralized corporate debt marketplace will grant crypto-native companies access to on-chain growth capital.
• Alpha Finance launches Oracle Aggregator: A data oracle is a platform that aggregates and connects real-world data and APIs that power smart contracts. With Alpha Oracle Aggregator, Alpha Finance Lab will enhance scalability, flexibility, and security for the suite of Alpha products in a number of ways.
• Alchemix integrates with Chainlink: Alchemix has integrated Chainlink price feeds for ALCX, alBTC, alUSD and alETH.
• BairesDAO announced: BairesDAO is a group of individuals from Argentina who have banded together to invest in founders who are building products within DeFi.
• Woofy token announced: Woofy allows you to be exposed to a lighthearted dog coin and the DeFi darling blue chip (YFI) at the same time.
• Zapper raises $15 million series A: Zapper, the decentralized finance (DeFi) dashboard, has raised $15 million in a Series A round led by Framework Ventures. The round was joined by Ashton Kutcher’s Sound Ventures as well as Mark Cuban.
• MCDEX raises $7 million: The round was led by Delphi Ventures and Alameda Research with participation from other funds and angels.
• DeversiFi completes strategic round: The $5 million round was led by ParaFi Capital with participation from DeFiance Capital, Lightspeed Ventures, StarkWare and more along with various angels.
• Handle Finance closes strategic round: Participants in this round include QCP capital, OKEX Ventures, Genblock Capital and many others.

MISC

• Unofficial Ethereum Q1 2021 results
• How DeFi performed during the market volatility
• Bringing Privacy to DeFi
• DeFi Beyond the Hype Report by Wharton
• Alchemix: Financial Alchemy Through Self-Repaying Loans — Epicenter
• Curve Finance — The Stablecoin Exchange Protocol — Epicenter

This is not financial advice.

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