DeFi in Ether: Compound launches liquidity mining program and passes Maker for #1, Synthetix collabs with Curve and Ren for BTC yield farming, WBTC Cafe launched, BAL tokens are live, Aave crossed $100M in market size, Uniswap v2 passes v1 in liquidity, >5M KNC burned, and much more!

Paradigm
Paradigm
Published in
25 min readJun 24, 2020

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Biweekly update on Ethereum DeFi ecosystem vol.7, 10th June — 24th June

TL;DR

Subscribe to ‘Defi in Ether’ newsletter

Check out our latest biweekly report on Ethereum vol.46: 9th June — 23rd June.

For more updates, join Paradigm on Medium, Twitter, Telegram, and Reddit.

Debt

Aave:

Aave has passed $100M in market size!

Aave x Gitcoin Hackathon Highlights.

Bug Bounty Up To $250.000 USD. Check out Aave’s latest blog post for more Bug Bounty info and details on its partnership with Consensys Diligence, one of the top security auditors in the Ethereum ecosystem.

Debate: Synthetic Assets Explained: The team was joined by the founders of Synthetix and UMA to take a deep dive into a hot topic — Synthetic Assets. Aave’s first round of DeFi Debates was moderated by Marc Zeller, Integration Lead at Aave.

Join later today (June 23rd) DeFi Meetup 2: Das Aave Open Source Protokoll.

Compound:

COMP Distribution, Key Delegates, New Asset Pages

COMP Token Distribution:

As of June 15th, COMP tokens are now being distributed to all users of the Compound protocol. The proposal to distribute COMP tokens was successfully executed with 1,116,310.81 votes in favor and 0 opposed.

Each day, approximately 2,880 COMP is distributed from the Reservoir, directly to users. Already:

You can view this Dune Analytics dashboard for real-time data on COMP distribution and interactions — or fork the queries to create your own analytics dashboard.

Protocol suppliers and borrowers can view their COMP balance, collect earned COMP, or delegate their voting rights using the app’s vote page. For further information on COMP and governance see the COMP distribution FAQ page and the Compound blog.

Launching COMP was the final step in the decentralization process that was announced in February. As announced on June 16th, Compound core work on the protocol is done. Future administration, maintenance, and upgrades to the protocol lie solely in the hands of COMP holders and their governance delegates.

Key Governance Delegates:

As a COMP token holder, you do not need to directly participate in the voting process for protocol modifications. A core feature of COMP is the delegation of voting rights.

The Compound Delegate Leaderboard shows the governance participants who have been delegated the most votes thus far. You, as a user of Compound and recipient of COMP, can delegate to any user or organization that you wish, including yourself! Just visit the vote page to do so.

To participate directly, join the community Governance forums to make your voice heard.

New Market Detail Pages:

Compound community members have long requested additional details around individual market statistics. The team unveiled new market detail pages, where users can easily access data like historical interest rates, cToken exchange rates, interest paid per day, and more. Just click on each listed asset on the Markets page.

More Links & Discussions:

Dharma:

The Dharma team introduced Automatic Recurring Deposits. With automatic Recurring Deposits, you can “set it and forget it”, automatically making a deposit via debit card on a weekly, biweekly, or monthly cadence:

The team has kicked off two discussions regarding the interest rate models for cryptodollars on Compound:

1. Standardize cUSDC and cUSDT interest rate models

2. Decouple the cDAI interest rate model from MCD parameters

Moreover, they have eliminated lifetime limits on debit card deposits in Dharma:

Maker:

Executive Vote: Monthly MIPs Official Ratification: The Maker Foundation Interim Governance Facilitators have placed an Executive Vote into the voting system, which will enable the community to approve the following alterations to the Maker Protocol.

This Executive Vote has an expiration of 4 days, after which it has no effect. MIPs and subproposals only move to the “Accepted” status if the executive vote they are included in passes within the 4-day limit. If the executive vote fails to pass within the 4-day limit, the MIPs and subproposals have their status changed to “Rejected”.

The Executive Vote (FAQ) will continue until the number of votes surpass the total in favor of the previous Executive Vote. This is a continuous approval vote.

You’ve Learned How to Open a Maker Vault — Now What? The Maker Foundation’s latest video, “How to Open a Maker Vault,” demonstrates how easy it is to generate the Dai stablecoin by locking accepted collateral into it.

Governance Polls: Monthly MIPs, Add KNC & ZRX as Collateral Types, Appoint Oracles, and more: The Maker Foundation Interim Risk Team has placed a series of Governance Polls into the voting system which presents adjustments to the base rate, monthly MIPs, add KNC & ZRX as collateral types, and appoint and whitelist oracles.

Executive Vote: Raise the Base Rate: The Maker Foundation Interim Governance Facilitator has placed an Executive Vote into the voting system, which will enable the community to approve the following alterations to the protocol.

Decentralized Finance (DeFi) Trends: Decentralized Finance (DeFi) has become a hot movement in the blockchain space, with promising innovation and impressive traction leading to exciting trends.

How Dai-enabled Debit Cards Are Driving Maker Protocol Adoption: Integration of Dai into debit cards means increased adoption of the Maker Protocol and the facilitation of attractive new financial services for all.

xDai:

Nuo Network:

Derivatives, Swaps and Prediction Markets

Augur:

UPDATED v2 LAUNCH CHECKLIST:

  • 0x finish high priority performance tuning
  • 0x finish browser database refactor
  • Working through performance, regression, and stability testing
  • Slimming down initial download so the app loads fast
  • Final contract coverage testing

Also, Augur (REP) trading is now live on Binance US.

More on Augur:

dYdX:

Deposit USDT to the BTC Perpetual:

The team is making two product changes to the dYdX BTC Perpetual Market:

  • Renaming the contract to BTC-USD
  • Allowing USDT to be deposited and converted to collateral

Under the hood, the only asset that is held as collateral for the BTC-USD Perpetual will continue to be USDC.

* Perpetual Markets on dYdX not available in the United States. No actual Fiat USD is supported on dYdX.

How it works

dYdX makes it easy to deposit USDT to the BTC-USD Perpetual. Behind the scenes, dYdX integrates with Curve to convert the USDT to USDC that is ultimately held as collateral.

Collateral and quote amounts for the BTC-USD Perpetual are displayed as USD. USD amounts on dYdX can be withdrawn 1:1 with USDC or can be withdrawn to USDT by performing an automatic stablecoin conversion through Curve.

Dune Analytics now supports dYdX Perpetual Markets.

dYdX Trader Insights #1. The team shared their first installment of dYdX Trader Insights. This will be dYdX dedicated letter for crypto traders. In this issue, the team goes over the recent trend of finding alpha in DeFi as well as broader dYdX market updates.

Gnosis:

Gnosis distributed 2K GNO to liquidity providers on Gnosis Protocol who participated in the challenge. Learn more here.

Gnosis Safe partnered with Balancer Labs to offer $3,000 to build a Balancer liquidity Safe App. Hop into the Balancer discord to discuss and get more details.

UMA:

The UMA community is in the process of creating a COMP synth. This would allow people to short the COMP token. This option already exists on a centralized custodial trading platform. This experiment will help reveal the value added by having a permissionless means to short.

Join the community conversation as they determine the parameters of the COMP Price Identifier.

Fund Management

Melon:

Set Protocol:

Upgraded Robo Sets Now Live on TokenSets.

Introducing the BTC RSI Crossover Yield Set on TokenSets: The BTCRSIAPY is now live on TokenSets. This is the first new RoboSet launch since we enabled chunked rebalances via the TWAP mechanism!

This Set implements a crossover strategy on the BTC/USD RSI indicator. Learn more about the simple relative strength index and how it is calculated here.

Key Points:

  • You can now mint the BTCRSIAPY on TokenSets
  • The RSI is currently below 55 and the Set is sitting in 100% cUSDC
  • You can buy the Set using WBTC, ETH, USDC, DAI and LINK
  • Join the Discord channel to chat with fellow community members

How MAV Capital, a Top 10 Trader on Iconomi, Leverages Their Unique Background to Generate Alpha — Set Social Trader Spotlight.

How Josh Olszewicz (aka CarpeNoctom), a trader with 120k followers on Twitter, Uses Fractals To Outperform The Market — Set Social Trader Spotlight.

Fund Manager, and former eToro Managing Director, Georgii Verbitskii starts BTC Fund Active Trading Set — Set Social Trader Spotlight.

Securities, Insurance and NFTs

Nexus Mutual:

New governance proposals are in place to enable key milestones on Nexus Mutual roadmap. Nexus Mutual has four governance proposals in progress ready for members to cast their votes in exchange for rewards of NXM (Nexus Mutual native) tokens. The proposals include the upgrade for the long-awaited shift to pooled staking. The proposals are outlined below. Members can vote here.

Nexus Mutual — The Decentralized Insurance for Ethereum on Epicenter.

Liquidity Relays

0x project:

Introducing 0x Labs and Periscope Trading: Historically the 0x core team has been laser focused on developing the open source technology underlying 0x protocol and threy’ve exclusively relied on external teams to bring new products and liquidity into the ecosystem. This approach has allowed us to refine the technology and given the ecosystem time to mature. As the team continues to decentralize control of 0x protocol, the platform will take on an identity of its own and 0x organization will transition into one of the many productive stakeholders moving the ecosystem forward. As 0x Labs, the team aims to build a healthy business on top of 0x while we continue to work towards our vision for 0x as a community owned and operated platform.

0x Labs will focus on creating value in three key areas (1) surfacing better prices within existing markets (2) establishing new markets where none currently exist and (3) creating novel trading experiences that extend market access to a broader segment of users. To this end, they will soon launch 0x first end-user trading experience Matcha, which will come to serve as a liquidity search engine and launch pad for new markets.

As part of the introduction to 0x Labs, they’re also announced the formation of a special division within the organization, Periscope Trading. Periscope is a crypto-native trading desk that will help surface competitive prices and bring liquidity to DeFi and other nascent p2p markets.

Periscope Trading is independently operated by a team of longtime 0x power users, led by founder and CEO Ron Bernstein. Ron previously founded Paradex, one of the first 0x-based relayers, which was acquired by Coinbase in May, 2018.

These weeks, a new 0x Improvement Proposal has been posted. ZEIP-79 will decrease the protocol fee multiplier from 150,000 (current value) to 70,000. Voting will commence on July 6th at http://0x.org/zrx/vote

More details.

ZRX staking is now live on imToken.

Matcha:

Over 3,000 traders have registered for the beta!

Furthermore, COMP is now available to buy, sell, and trade on Matcha.

The team has opened a frontend dev position on the Matcha team. Unique opportunity, excellent team, and a great time to jump into space.

1inch.exchange:

Bancor Network Hack 2020. A critical bug in three recently deployed versions of the Bancor Network smart contract has led to a loss of user funds.

Tutorial: How to create an automated liquidity pool with 1inch.exchange and Balancer in one transaction? A regular user can create a liquidity pool on 1inch with the Balancer protocol in just a click, configuring its size and the weight of each currency.

BAL is now listed on 1inch.

The team added mStable as liquidity source for stable token swaps.

They also updated WalletConnect to the latest version: You can now connect without scanning an QR code on mobile devices.

Balancer:

BAL is live: The 435k BAL for liquidity providers of the first three weeks of liquidity mining (145k per week) have just been sent out to the wallets used to provide liquidity on Balancer.

Gnosis Safe partnered with Balancer Labs to offer $3,000 to build a Balancer liquidity Safe App. Hop into the Balancer discord to discuss and get more details.

Bancor:

The BNT/USD Price Feed is Live on Chainlink. Chainlink has launched the BNT/USD price feed. This is an important step towards releasing the next major version of Bancor Protocol, Bancor V2. The BNT/USD price feed will be utilized by a new type of automated market-maker (AMM) liquidity pool that offers:

Each Bancor V2 pool will consist of two reserves: one holding BNT and the other holding a “base” ERC20 token. In order to know the market prices of both tokens, the pool will communicate with Chainlink’s price feeds for BNT/USD and the relevant ERC20 token.

This data will be used to update the pool’s pricing curve and close arbitrage opportunities that cause impermanent loss, while creating the stability needed for single-token exposure and liquidity amplification on volatile assets.

BNT/USD is the first of many price feeds to be launched in collaboration with Chainlink to support Bancor V2 pools.

The technical details of Bancor V2 will be shared leading up to the code being open-sourced and deployed on Mainnet.

Leading up to the release of BancorV2, Bancor v0.6 contracts have been successfully deployed to Ethereum Mainnet.

Amplified Liquidity: Designing Capital Efficient Automated Market Makers in Bancor V2.

Bancor’s response to the security incident:

Kyber:

Pre-DAO Poll: Deciding Kyber Network’s Initial Protocol Parameters.

ParaFi Capital Invests in KNC to Accelerate Decentralized Liquidity Growth for DeFi.

Kyber Fed Price Reserve (FPR): On-Chain Market Making for Professionals. Kyber’s Fed Price Reserve (FPR) is uniquely designed to allow professional market makers and advanced developers to effectively market make and generate profits on-chain. FPRs provide liquidity for about 70–80% of all trades on Kyber.

DApps require on-chain liquidity to perform innovative smart contract-enabled DeFi functions such as flash loans and on-chain portfolio rebalancing. Market makers who cater to these use cases can use the FPR to provide liquidity on a fully on-chain protocol like Kyber.

A major FPR advantage is that it allows more efficient use of token inventory vs AMMs or Order Books. ETH balance can be used for ALL tokens that the maker is pricing w/o pre-committing for any given token. This ETH can be used for all token pairs market making on the reserve.

All-in-one Finance App Digifox by DataDash Launches with Kyber Integration.

Binance Futures Launched KNC/USDT Perpetual Contract With Up to 50x Leverage: Binance Futures launched KNC/USDT perpetual contract, with trading opening on June 22nd.

pNetwork Token (PNT) is now available on Kyber Network.

Loopring:

Loopring Exchange’s Frontend Open-sourced; Loopring Pay Frontend Bounty: The team has decided to open-source Loopring Exchange’s frontend. You can now access the repository here.

They have also decided to create a bounty of 25,000 LRC (~$2,500) for creating a frontend for Loopring Pay.

Loopring.io now has the Ren protocol RenBridge directly in the UI. Users can come with their BTC, mint renBTC, and be on their merry zkRollup way. Deposits for renBTC are open, can be used on Loopring Pay, and in a ~week, trading pair vs USDT will be up.

Loopring Exchange Liquidity Mining Competition: Loopring Exchange will hold a one-month liquidity provision (market making) competition, supporting two trading pairs: LRC-USDT and ETH-USDT; there will be a reward pool of 6000 USDT, split between both trading pairs.

Moreover, Loopring Pay has listed eight DeFi tokens. They are now able to be deposited onto the Loopring zkRollup, and sent to anyone else in the fast lane.

More new Listings on Loopring are:

COMP — USDT Trade DeFi’s newest, most valuable token by market cap.

pBTC — USDT Trade Crypto’s oldest, most valuable asset by market cap.

Also, Loopring Exchange is now on Coingecko.

Loopring: Scaling Trading and Payments on Ethereum with zkRollups: Matt Finestone of Loopring joins the Into the Ether podcast to discuss how they are bringing scale to trading and payments on Ethereum. Loopring leverages zkRollup technology and Matt gives a great overview of what this is and how it’s leveraged. They talk about the tradeoffs between different rollup flavors out there and why Loopring favors security and self custody over anything else. He then talks about the recently announcement of Loopring Pay which enables instant and free transfers of ETH and ERC20s.

Uniswap:

Uniswap V2 has officially passed Uniswap V1 on liquidity:

The Uniswap dev team believes equity, access and opportunity cannot happen without social change. Last week, they withdrew $10,000 from the Unisocks liquidity pool and will be donating it to Black Girls Code and NAACP to support economic and legal equality.

Payments Networks

Raiden Network:

Raiden Network released Raiden v1.1.0 “The Sun Prince”, which introduces a brand new version of the WebUI.

Raiden is participating in the Protect Privacy Gitcoin hackathon (Jun 15, 2020 — Jul 6, 2020):

Raiden Weekly:

Synthetix:

New BTC Yield Farming Pool from Synthetix, Curve, and Ren: Synthetix, Curve, and Ren have collaborated to launch a new incentivized pool to provide liquidity for tokenized BTC on Ethereum. The goal is to create the most liquid Ethereum-based BTC pool available to offer traders access to the lowest slippage for trades between sBTC, renBTC, and WBTC. This incentive will run for 10 weeks, and went live at 4am, Friday June 19 (UTC).

Yield Farming

This pool will yield an attractive basket of token incentives for liquidity providers including:

  • SNX
  • REN
  • CRV
  • BAL

To capture all of the incentives available, liquidity providers will need to contribute sBTC, renBTC, and/or WBTC to the BTC Curve liquidity pool.

Behind the scenes, the teams from Synthetix and Ren have created a Balancer pool for SNX and REN where LP Rewards are distributed in the form of BPT (wrapped SNX and REN). As a calculated side effect, this Balancer pool will also earn BAL tokens which will be redistributed to Curve BTC liquidity pool contributors.

Finally, the Curve reward token (CRV), which is launching soon, earned through the main BTC pool will also be redistributed to liquidity providers.

Each week, liquidity providers will receive BPT (wrapped SNX and REN), BAL, and CRV tokens in proportion to their Curve BTC liquidity contributions. Liquidity providers will share 10,000 SNX and 25,000 REN in the weekly distribution of BPT.

Please note that BAL and CRV tokens are not yet available on the open market and will be distributed pro-rata once they are available.

The Acrux release: Next Tuesday (June 30th, midnight UTC) they’ve got the Acrux release, which chiefly launches binary options.

Here’s what is included in this release:

  • Binary options (SIP-53): This update adds the much-awaited binary options trading feature to Synthetix.Exchange. It’s a type of options contract that provides a fixed return based on a binary outcome in the future. It pays out on a certain date if the price of a chosen asset is above (or below) a level specified at the creation of the option. Here’s a more detailed summary of how it works.
  • Stale rates update (SIP-48): This update will change the current logic, which errors out on when reading effective values when rates are stale to instead simply returning the value even if stale. This will improve the performance of dApps and scripts.

Cinnabar Product Release: This post is an entry in Synthetix regular series in which the team fills you in every week or two on all the front-end updates they’ve made across Synthetix dApps and website.

If you’ve got any front-end requests or feedback to this series, please come join the conversation in Synthetix Discord.

Privacy protocols for DeFi

Ren protocol:

Introducing an incentivized BTC Liquidity Pool by Ren, Synthetix, and Curve: In partnership with Synthetix and Curve Finance, the team introduced a new incentivized liquidity pool for farming CRV, BAL, SNX, and REN.

Curve Finance Integrates RenVM: the first native RenVM integration with Curve Finance:

  1. With Curve integrating RenVM via RenJS anyone can now use native BTC in Curve Finance, allowing the public to deposit and start earning trading fees on BTC immediately.
  2. This integration also facilitates the seamless movement between BTC and WBTC, creating the first low-slippage on and off ramp for WBTC that does not require any sign-ups! You simply send in BTC and get WBTC in return.
  3. Further, this provides an important foundation for advancing DeFi’s utility in other ways. The renBTC <> WBTC pool opens the door for dApps like Aave, Compound, Zapper.fi, WBTC.Cafe, and anyone using WBTC, to create a host of new financial products that were not previously possible in DeFi. In addition, DEX aggregators (1inch, Paraswap, Totle, Dex.ag, etc.) can use this pool to swap BTC → WBTC → anycoin. So both teams are keen to see what’s built over the coming months.

WBTC.Cafe is now on Mainnet: WBTC.Cafe is a basic dApp that provides one of the easiest ways for average users to acquire WBTC with real BTC. The Cafe facilitates a native BTC user experience, so all you have to do is send in real BTC and you receive WBTC. Check it out here: https://wbtc.cafe/

Check out Ren Ecosystem Update: June 2020.

Loopring.io now has the Ren protocol RenBridge directly in the UI. Users can come with their BTC, mint renBTC, and be on their merry zkRollup way. Deposits for renBTC are open, can be used on Loopring Pay, and in a ~week, trading pair vs USDT will be up.

More updates

ConsenSys Codefi is launching an Ethereum 2.0 staking-as-a-service platform with institutional functionality for exchanges, custodians, funds, wallets and other potential customers. Binance, Crypto.com, DARMA Capital, Huobi Wallet, Matrixport, and Trustology are the first companies to join the Codefi Staking Pilot Program.

mStable Offers Cheap Stablecoin Swaps. To celebrate mStable’s beta launch, the team are offering low fee stablecoin trading on their zero slippage swap product! Fees have been temporarily reduced from 30 basis points to 2.5 basis points.

Opyn Closes $2.16M Seed Round for DeFi Options Protocol and Opyn V2. Opyn has raised $2.16M to bring risk management to DeFi, further strengthening the company’s position as the primary DeFi platform available that allows cryptocurrency investors to hedge their Ethereum and Decentralized Finance investments through options. The financing was led by Haseeb Qureshi and Tom Schmidt at Dragonfly Capital with participation from Version One Ventures, Uncorrelated Ventures, 1kx, A. Capital, DTC Capital, CoinFund and angel investors including Balaji Srinivasan, Robert Leshner, Dylan Field, Linda Xie and more.

A look into some data about Opyn provided by Consensys Codefi:

DeFi Pulse Registry launched. DeFi Pulse Registry wants to keep DeFi safe and to do this they are rolling out 3 categories of new metrics: economic risks, centralization risks, and security risks associated with different DeFi protocols.

DeversiFi:

Total Value Locked in DeFi

Source: DeFi Pulse

Top DeFi Tokens by Market Capitalization

Total Market Cap: $6,592,641,381

Source: defimarketcap.io

Ethereum DeFi map

Source: A map of the DeFi ecosystem, broken down by category

Podcasts

Loopring: Scaling Trading and Payments on Ethereum with zkRollups on Into the Ether. Matt Finestone of Loopring joins the podcast to discuss how they are bringing scale to trading and payments on Ethereum. Loopring leverages zkRollup technology and Matt gives a great overview of what this is and how it’s leveraged. They talk about the tradeoffs between different rollup flavors out there and why Loopring favors security and self custody over anything else. He then talks about the recently announcement of Loopring Pay which enables instant and free transfers of ETH and ERC20s.

DeversiFi: Bringing Ethereum to Serious Traders on Into the Ether. Will Harborne, CEO of DeversiFi, joins the show to talk about their recent product launch. DeversiFi brings scale and deep liquidity to Ethereum by leveraging StarkDex technology. Will walks us through the technology used that allows feeless trading and up to 9000 TPS. He talks about how DeversiFi accomplishing deep liquidity by hooking into order books of centralized exchanges and then tells us of exciting new features they are considering for the future.

Opyn: The Insurance Platform Which Protects Your DeFi Deposits on Epicenter. Opyn is a smart contract-based insurance platform built on a generalized (supports both put and call) options protocol called Convexity. It is intended as a platform to protect DeFi users against both technical and financial risks, and a place where ETH holders can earn substantial premiums on their holdings by providing insurance. Opyn uses tokenized ERC20 put options, oTokens, on ETH to allow option buyers to keep their upside while limiting their downside. If you buy Opyn protection, you are buying “the right but not the obligation to sell an asset at a pre-specified price”. Currently, you can buy insurance for DAI, ETH, and USDC deposits on Compound and it is completely noncustodial and trustless. Zubin Koticha, CEO & Co-founder of Opyn, is currently working on V2 of the platform with his team. Their focus for improvements are in 3 main areas; cash efficiency, trading mechanism, and network effects. They are hoping to release this within the next 6 months. This is a much-needed generalizable insurance solution against some attacks/ vulnerabilities within the DeFi ecosystem and it will be very interesting to see how their contribution to DeFi progresses.

Nexus Mutual — The Decentralized Insurance for Ethereum on Epicenter. Nexus Mutual provides an alternative decentralized insurance solution for Ethereum. The protocol is built on the public chain and operates under a discretionary mutual structure meaning it is owned wholly by its members. It allows anyone to become a member and buy cover, and the model encourages engagement as members receive incentives for participating in Risk Assessment, Claims Assessment and Governance. At present the product offered is cover to protect against hacks in smart contract code. When Nexus Mutual is alerted to a claim, members will also be asked to vote on whether to pay out on that claim or not. Hugh Karp, CEO and Founder of Nexus Mutual, has combined his insurance industry knowledge with his passion for decentralized technology to build this platform which is replacing the traditional insurance setup. They are currently looking into expanding to offer more insurance products and we are excited to see where they go next.

Why COMP 5xed on Day 1 and What This Means for a DeFi Bull Market on Unconfirmed. Kain Warwick, founder of Synthetix, discusses the launch of the COMP token this week, including:

  • why the price of COMP tokens popped
  • how this now meant that the governance of the Compound protocol was now in the hands of the community
  • whether liquidity mining in DeFi is similar to or different from transaction mining on centralized exchanges
  • what the price jump in COMP on day 1 means for a future DeFi bull market
  • why Kain believes he is already seeing Bitcoin flowing into alts and DeFi tokens
  • what this means for VCs who invested in layer 1 projects

SotN #1 — BULLISH; DeFi tokens, Internet-era growth, Fee v Issuance Debate on Bankless.

  • why DeFi tokens are the next pump narrative (but better than 2017)
  • how 100m ETH accounts is like the early internet
  • do and David disagree on his Bitcoin tweet?

DeFi Prime’s Top Podcasts of 2020:

MISC

DeFi Taxes Explained.

7 DeFi Projects That Will Generate A Lot of Attention in 2020.

Build DeFirent: Three Hypotheses of Hegic Protocol or How To Improve Long-Term ROI in Options Writing.

Dai is Culture’s Currency.

How to Get Started With Curve.fi.

On Swaps & Arbitrage using mStable.

How Does DeFi Cross the Chasm?

ETH disrupting SWIFT: why fintech VCs are missing DeFi.

DeFi Dad’s video tutorials.

Inside Yield Farming: A Beginner’s Guide to the Latest Craze in DeFi.

Curve sBTC pool yield farming calculator:

Yield farming calculator for Synthetix.

A Polkadot decentralized finance (DeFi) community conference hosted by Acala and Polkadot was held virtually on June 18th, 2020. There were three one-hour sessions, featuring Acala, a cross-chain stablecoin and finance DApp platform, Centrifuge, a decentralized asset financing platform, ChainX, a Bitcoin smart contract platform, Chainlink, an oracle service provider for any blockchain, Laminar, a synthetic asset and margin trading platform, Plasm Network, a layer 2 DApp scaling platform and Interlay, a trustless Bitcoin bridge. Robert Habemeier, co-founder of Polkadot, showcased cutting-edge developments in parachains while Joe Petrowski of Parity Technologies demonstrated cross-chain communication.

Furthermore, on June 11th DeFi Toronto June meetup took place.

More tweets:

This is not financial advice.

Subscribe to ‘Defi in Ether’ newsletter

Check out our latest biweekly report on Ethereum vol.46: 9th June — 23rd June.

For more updates, join Paradigm on Medium, Twitter, Telegram, and Reddit.

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