Jan 4, 2021

9 min read

DeFi in Ether: $17B in DeFi this week, 1INCH token is here, Curve sETH pool is live, PieDAO is launching YPIE, The Shaula release, 2020 in review from Aave, Uniswap, Synthetix, xDai, Raiden, Ren, UMA, 2021 is going to be wild!

Biweekly update on Ethereum DeFi ecosystem vol.21, 22nd December — 4th January

TL;DR

More than $17B in DeFi this week, currently at ~$17.45B, with Maker dominance 21.03%.
1inch hits $8B in total volume. Moreover, there are now over 500k in total swaps on 1inch.exchange. Good news is, 1INCH token released, a governance and utility token for the 1inch Network. The 1INCH token will be used to govern all 1inch Network protocols. Track 1inch token claims.
Yearn updates: Simplified Vault Registry merged. YPIE PieVault and Sushiswap collaboration announced. Check out the latest YFI Pulse.
Find some highlights of Aave 2020 in the December Newsletter: 2020 a year in review. Aave V2 Design Upgrade: In this post, Rowan van Ginkel from Aave details the process that he and the team went through when designing the new Aave v2. Also, AAVE was selected as the next token to receive BNT liquidity mining. And Aave V2 is live in ParaSwap.
Read in the latest Compound newsletter: news about OKCoin Integration, COMP.Vote launch, Developer Community Call recap, Governance updates. Since the last newsletter, Proposals 33 Remove automatic COMP claims and COMP speed refresh and 34 Semi-Permanent Gas Saving Measures for the DAI Market passed through governance with near-unanimous support from the community. Forby, Rober Leshner, joined SCB 10X Virtual Summit to discuss the DeFi landscape and governance models.
Uniswap’s Year in Review: 2020 is here.
Check out xDai year in review.
Synthetix 2020 — A decade in review is out. The Shaula release deployed two major protocol changes, SIP-97 and SIP-103. Multicollateral loans and sUSD shorts are now live, but only at a contract level — the team will be rolling out the frontend for these new features soon.
UMA Token Release & Treasury Update: UMA founders and early investors have agreed to an additional two-year lockup; the Risk Labs Foundation now holds over $15mm in non-UMA assets; 2021 is going to be wild with more developer mining, new perpetual synthetic assets, and an “optimistic” oracle that builds off the R&D.
Degenerative Finance launched: Degenerative Finance is a new product built by Yam on UMA.
The DeFi Pulse Index DPI just reached a new all time high. There’s currently an active MIP on the MakeDAO governance forum to whitelist Set Protocol for YFI/USD oracle access.
You can now watch the replay of mStable Community Call 004. The genesis team discussed progress on recent MIPs, current MIPs in development, the new incentivized constant sum market maker (ICSMM), and governance proposals.
The latest Balancer Report is here.
Check out Bancor Progress Update full of December highlights. Guides were published on how to stake and earn SNX and AAVE on Bancor v2.1.
Kyber ended 2020 with a bang, hitting an all-time high volume of $411M+ in the month of Dec, 10x the volume in the same period in 2019.
Loopring v3.6 API is out. Now you can interact with the zkRollup to transfer, trade, swap, be an LP… all gaslessly, all programmatically.
Check out the latest Raiden Weekly. Update 150 covers development progress of this year, events the team took part in, demos of 2020.
Ren in 2021: development update, year in review and a look forward to 2021. Ren Ecosystem Update is out. OpenDAO integrates RenVM: mint yield dollars with BTC.
Yam Treasury Quarterly Update: The team explores their community governed treasury and takes a peak at what’s coming next.
Curve launched its sETH pool, the protocol’s first Ethereum-based pool. Ahead of the Curve #004: Updates from the Curve ecosystem including a look at governance, the ecosystem and Curve in the news.
Introducing Dexible, a decentralized exchange tool that enables private, non-custodial flexible DeFi automation and the first Stop-Loss orders for retail DeFi.
Decentralized derivatives project Opium Protocol released a token economics report on its OPIUM governance token.
2020: Year in Review by DeFi Pulse.
2020 Year in Review: DeFi by Decrypt.
Some of the biggest DeFi events of 2020 by The Block.
DeFi Person of the Year 2020 by DeFi Prime.
DeFi predictions for 2021.
And more!

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Total Value Locked in DeFi

More than $17B in DeFi this week, currently at ~$17.45B, with Maker dominance 21.03%.

Top DeFi Tokens by Market Capitalization

Total Market Cap: $22,890,829,140

DeFi Aggregators

mStable:

You can now watch the replay of mStable Community Call 004. The genesis team discussed progress on recent MIPs, current MIPs in development, the new incentivized constant sum market maker (ICSMM), and governance proposals.

yEarn.finance:

Lending

Aave:

Aave V2 Design Upgrade: In this post, Rowan van Ginkel from Aave details the process that he and the team went through when designing the new Aave v2.
December Newsletter: 2020 a year in review: Find some highlights of Aave 2020 in the newsletter.

Compound:

OKCoin Integration, COMP.Vote Launch, Developer Community Call Recap, Governance Updates

OKCoin Integration: OKCoin natively integrated Compound to launch a new Earn product that allows users to generate yield on USDC and DAI. The Compound integration features daily adds and withdrawals, as well as automatic COMP rewards included in the net rate. Most notably, OKCoin charges no service or gas fee for supplying assets, providing a truly frictionless onboarding experience for DeFi users.
COMP.Vote Launch: Compound community members Arr00 and Anish Agnihotri launched COMP.vote, a gasless method to vote on Compound governance proposals. Arr00 and Anish also built an API that allows anyone to send signatures to the COMP.Vote server for relaying.
Developer Community Call Recap: The Compound community held its fifth Developer Community Call to discuss ongoing protocol and application development. You can view a recap on the Compound Community Forum, and listen to a recording of the call here or on your preferred podcast platform.
Governance Updates: Since the last newsletter, Proposals 33 Remove automatic COMP claims and COMP speed refresh and 34 Semi-Permanent Gas Saving Measures for the DAI Market passed through governance with near-unanimous support from the community.

Compound Labs CEO, Rober Leshner, joins SCB 10X Virtual Summit to discuss the DeFi landscape and governance models.

Dharma:

xDai:

xDai year in review is out.

Derivatives, Swaps and Prediction Markets

Gnosis:

UMA:

UMA Token Release & Treasury Update: UMA founders and early investors have agreed to an additional two-year lockup; the Risk Labs Foundation now holds over $15mm in non-UMA assets; 2021 is going to be wild with more developer mining, new perpetual synthetic assets, and an “optimistic” oracle that builds off the R&D.

Fund Management

Enzyme Finance (formerly Melon):

Set Protocol:

Securities, Insurance and NFTs

Nexus Mutual:

Liquidity Relays

0x project:

Matcha:

1inch.exchange:

$8B in TOTAL VOLUME
1INCH token released: The 1INCH token is a governance and utility token for the 1inch Network. The 1INCH token will be used to govern all 1inch Network protocols.
Binance Loans Adds Borrowable Assets 1INCH & RUB
Huobi Inno Hub launches 1INCH
Track 1inch token claims
Over 500k in total swaps on 1inch.exchange

Balancer:

The latest Balancer Report is here.

Bancor:

Bancor Progress Update: December 2020: December highlights.

Q1 roadmap is jam-packed:

BNT rewards go live (Jan)
Perpetual BNT deflation via vBNT pool
New APIs improve http://bancor.network performance
Dynamic fees

How to Stake & Earn AAVE on Bancor v2.1: This guide shows you how to stake and earn AAVE in the single-sided AAVE liquidity pool on Bancor v2.1.
How to Stake & Earn SNX on Bancor v2.1

Kyber:

Kyber ended 2020 with a bang, hitting an all-time high volume of $411M+ in the month of Dec, 10x the volume in the same period in 2019.

Loopring:

Loopring v3.6 API is out. Now you can interact with the zkRollup to transfer, trade, swap, be an LP… all gaslessly, all programmatically
New Loopring Wallet update.

Uniswap:

Uniswap’s Year in Review: 2020

Some highlights from 2020 include:

Launching the Uniswap V2 protocol
Launching Uniswap Governance and the UNI token
$58bn in trading volume, up 15,000% from 2019
$2bn in liquidity, up 17,000% from last year
Over 200 community integrations and counting

Payments Networks

Raiden Network:

Check out the latest Raiden Weekly. Update 150 covers:

Development progress of this year
Events the team took part in
Demos of 2020

Synthetix:

Synthetix 2020 — A decade in review
Manually interacting with multi-collateral loans: The Shaula release deployed two major protocol changes, SIP-97 and SIP-103. Multicollateral loans and sUSD shorts are now live, but only at a contract level — the team will be rolling out the frontend for these new features soon.

Privacy protocols for DeFi

Ren protocol:

Ren in 2021: Development Update | Year in review and a look forward to 2021
Ren Ecosystem Update: December 2020
OpenDAO Integrates RenVM: Mint Yield Dollars with BTC

More updates

Yam Treasury Quarterly Update: The team explores their community governed treasury and takes a peak at what’s coming next.
Degenerative Finance launched, a new product built by Yam on UMA.
Curve launched its sETH pool, the protocol’s first Ethereum-based pool. Ahead of the Curve #004: Updates from the Curve ecosystem including a look at governance, the ecosystem and Curve in the news.
Introducing Dexible, a decentralized exchange tool that enables private, non-custodial flexible DeFi automation and the first Stop-Loss orders for retail DeFi.
PieDAO is launching the Yearn Ecosystem PieVault, or YPIE.
Decentralized derivatives project Opium Protocol released a token economics report on its OPIUM governance token.