DeFi in Ether: $38 in DeFi, Uniswap releases Permit2 and a universal router, Aave on Aztec, The 1inch Router v5 is here, Kyber Network partners with Lido, dYdX introduces Swap Mode, Gnosis will undergo the Merge in early December, FTX collapse, and much more!

Paradigm

Published in

Paradigm

9 min readNov 22, 2022

Biweekly update on the Ethereum DeFi ecosystem vol.63, 8th November — 22nd November

TL;DR

$38B in DeFi this week, currently at ~ $38.1B.
Uniswap released Permit2 and a universal router, to improve ERC20 token approvals and integrate swaps into one router. Earn up to $3,000,000 for reporting critical or high-severity bugs in the Uniswap core contracts: The team is offering up to $3,000,000 to anyone who finds a bug in the Permit2 or Universal Router smart contracts. Twitter Space: Permit2 + Universal Router. The latest Uniswap proposals are here. On November 16th, Uniswap became the second-largest exchange after Binance for Ethereum trading in the last 24 hours.
Solving the issue with slippage in EIP-4626. Check out mStable’s latest proposals here. Standards in DeFi and why they are important: a mStable meet-up took place.
Yearn <> CoW Swap: After months of working on a yearn cowswap solver, the team reached production-ready code. Now you can do complex swaps in CoW Swap like, 3CRV <-> yvSNX. Yearn is committed to settling all strategies trades through CoW Swap and trying to get as many cows as possible to increase users' revenue. yBribe has been introduced: Yearn’s new bribe platform for Curve gauge voting. Check out the thread for key product and contract upgrades, or start selling and buying votes at yBribe.com. Twitter space: Fireside chat with @iearnfinance.
Latest Aave News: Gateway NFT for all grantees to claim, Aave on Aztec, Gauntlet snapshot, Certora renewal, 100K BAL acquisition, and more. Follow the Aave governance forum.
Compound Proposal 134 ‘CGP 2.0 by Questbook’ has failed. Previously, Proposal 131 ‘Risk Parameter Updates for 1 Collateral Asset’ has passed successfully. Find the latest Compound proposals here. Compound Developer Community Call — November.
The 1inch Router v5 is released. The 1inch Wallet for iOS upgrades: added and removed features: The iOS version of the 1inch Wallet is back on the App Store, offering a more intuitive user experience and compatibility with other wallets. Aggregation of on-ramp providers and NFT support added to the 1inch Wallet for Android: Android users can now get the best exchange rates when buying crypto for fiat and spend their coins on NFTs directly in their 1inch Wallet.
Gnosis Chain Weekly · 18 November 2022: Gnosis Core Devs released dates last week for the much-anticipated merge aiming for December 5th, 2022. The Merge is a significant shift for Gnosis, replacing the legacy PoA consensus with the open and non-permissioned Beacon Chain consensus. This allows Gnosis to transition to a fully decentralized and permissionless PoS network, mirroring Ethereum.
Introducing Swap Mode: Trade perpetuals with a familiar yet powerful UI. Live on the dYdX iOS app. dYdX saw $1,201,000,000 in 24-hour trade volume and 268,000 trades yesterday. Bloomberg Crypto Full Show (11/15/2022) with Antonio.
How to use UMA’s optimistic oracle to verify any truth trustlessly: Video workshop. Discussion series probes the potential of UMA’s optimistic oracle. CeFi failings provide a helpful advert for DeFi. Twitter space: Does jet fuel melt steel beams? How UMA interprets scientific proof. Join the team on Twitter space on November 28th at ACX Token Launch Party.
Check out MFP: Enzyme Funding Proposals here. Avantgarde’s ENS Endaoment Proposal. Twitter space: ENS Endowment Check Up on Avantgarde’s Investment Strategy.
Nexus Mutual Newsletter | 17 November 2022: An overview of Hodlnaut claims and payouts, the Slashing Coverage Program announced with Liquid Collective, claims filing information about FTX and BlockFi, and more. Community proposals of these weeks.
San Francisco Blockchain Week 2022 Recap: Highlights from 0xpo and ETHSanFrancisco. Powered By 0x livestream: Building an Innovative Market Making Solution with Dodo. Join the team for a new Powered By 0x livestream tomorrow.
The latest Balancer Report is here. Balancer Relayers and Pool Migrations explained. Frax Finance is now part of the Balancer ecosystem. Distribute Your ERC20 Token with Liquidity Bootstrapping Pools. High Capital Efficiency with Boosted Pools. Cheaper Arbitrage with Batch Swaps. Capitalizing on Balancer’s Flash Loans.
Kyber Network partners with Lido to bring the best wstETH liquidity to the Ethereum mainnet. Dr. Chan Nam Ngo (nam_nc) from the Kyber Research Team has been published in IEEE Transactions on Information Forensics and Security, documenting research on Cryptographic and Financial Fairness. [DRAFT] [GF: Phase 1 Proposal] KyberSwap. Find out all Kyber proposals here. Check them out on GitHub.
LRC Staking is coming to Loopring L2. Staking ETH with Rocket Pool is now live on Loopring. As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.
Synthetix V3 update by CC Noah. SNXweave Weekly Recap 65. Twitter Spaces: Spartan Space: Synthetix V3 Deep Dive; Spartan Space: Synthetix Ambassadors and Aztec Protocol. KWENTA Token is live.
Moving on from Alameda: As the Ren 1.0 network will be sunset within 30 days, the team highly recommends users to bridge back their Ren-assets, such as renBTC, to their native chain as soon as possible.
Maker Teleport: fast DAI withdrawals from Arbitrum/Optimism to mainnet.
It’s speculated that the FTX collapse will trigger a move away from centralization.
And more!

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Total Value Locked in DeFi

$38B in DeFi this week, currently at ~ $38.1B.

Top DeFi Tokens by Market Capitalization

Total Market Cap: $92,930,729,087

DeFi Aggregators

mStable:

Solving the issue with slippage in EIP-4626
Check out mStable’s latest proposals here.
Standards in DeFi and why they are important: a mStable meet-up took place.

Yearn Finance:

Yearn <> CoW Swap: After months of working on a yearn cowswap solver, the team reached production-ready code. Now you can do complex swaps in CoW Swap like, 3CRV <-> yvSNX. Yearn is committed to settling all strategies trades through CoW Swap and trying to get as many cows as possible to increase users revenue.
yBribe has been introduced. Yearn’s new bribe platform for Curve gauge voting. Check out the thread for key product and contract upgrades, or start selling and buying votes at yBribe.com
Twitter space: Fireside chat with @iearnfinance.

Lending

Aave:

Latest Aave News: Gateway NFT for all grantees to claim, Aave on Aztec, Gauntlet snapshot, Certora renewal, 100K BAL acquisition and more.
Follow the Aave governance forum.

Compound:

Compound Proposals 134 ‘CGP 2.0 by Questbook’ has failed. Previously, Proposal 131 ‘Risk Parameter Updates for 1 Collateral Asset’ has passed successfully.
Find the latest Compound proposals here.

Compound Developer Community Call — November.

Gnosis Chain (formerly xDai Chain):

Gnosis Chain Weekly · 18 November 2022: Gnosis Core Devs released dates last week for the much anticipated merge aiming for December 5th, 2022. The Merge is a significant shift for Gnosis, replacing the legacy PoA consensus with the open and non-permissioned Beacon Chain consensus. This allows Gnosis to transition to a fully decentralized and permissionless PoS network, mirroring Ethereum. The Merge also brings Gnosis one step closer to achieving its goal of being the most credibly neutral network available. With over 100K validators currently securing the Gnosis Beacon Chain, Gnosis is poised to offer a resilient, unstoppable network to the public. The team has simplified the process of running a validator ~ only 1 GNO is required and the process is user-friendly.
Subscribe to the Merge Newsletter for the most up-to-date information on how to prepare for the Gnosis Chian merge.

Derivatives, Swaps and Prediction Markets

dYdX:

Introducing Swap Mode: Trade perpetuals with a familiar yet powerful UI. Live on the dYdX iOS app.
dYdX saw $1,201,000,000 in 24-hour trade volume and 268,000 trades yesterday.
Bloomberg Crypto Full Show (11/15/2022) with Antonio.
Join the team for a PoweredBy0x livestream tomorrow.

UMA:

How to use UMA’s optimistic oracle to verify any truth trustlessly: Video workshop
Discussion series probes the potential of UMA’s optimistic oracle
CeFi failings provide a helpful advert for DeFi
Twitter space: Does jet fuel melt steel beams? How UMA interprets scientific proof.
Join the team on Twitter space on November 28th at $ACX Token Launch Party.

Fund Management

Enzyme Finance:

Twitter space: ENS Endowment Check Up on Avantgarde’s Investment Strategy.
Avantgarde’s ENS Endaoment Proposal.
Check out MFP: Enzyme Funding Proposals here.

Securities, Insurance

Nexus Mutual:

Nexus Mutual Newsletter | 17 November 2022: An overview of Hodlnaut claims and payouts, the Slashing Coverage Program announced with Liquid Collective, claims filing information about FTX and BlockFi, and more.
Community proposals of these weeks.

Liquidity Relays

0x project:

San Francisco Blockchain Week 2022 Recap: Highlights from 0xpo and ETHSanFrancisco.
PoweredBy0x livestream: Building an Innovative Market Making Solution with Dodo.
Join the team for a new PoweredBy0x livestream tomorrow.

1inch:

The 1inch Router v5 is released.
The 1inch Wallet for iOS upgrades: added and removed features: The iOS version of the 1inch Wallet is back on the App Store, offering more intuitive user experience and compatibility with other wallets.
Aggregation of on-ramp providers and NFT support added to the 1inch Wallet for Android: Android users can now get the best exchange rates when buying crypto for fiat and spend their coins on NFTs directly in their 1inch Wallet.

Balancer:

The latest Balancer Report is here.
Balancer Relayers and Pool Migrations explained.
Distribute Your ERC20 Token with Liquidity Bootstrapping Pools
High Capital Efficiency with Boosted Pools
Cheaper Arbitrage with Batch Swaps
Capitalizing on Balancer’s Flash Loans
Frax Finance is now part of the Balancer ecosystem

Kyber:

Kyber Network partners with Lido to bring the best wstETH liquidity to the Ethereum mainnet.
Dr. Chan Nam Ngo (nam_nc) from the Kyber Research Team has been published in IEEE Transactions on Information Forensics and Security, documenting research on Cryptographic and Financial Fairness.
[DRAFT] [GF: Phase 1 Proposal] KyberSwap.
Find out all Kyber proposals here. Check them out on GitHub.

Loopring:

LRC Staking is coming to Loopring L2.
Staking ETH with Rocket Pool is now live on Loopring.
As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.

Uniswap:

Uniswap released Permit2 and a universal router, to improve ERC20 token approvals and integrate swaps into one router.
Earn up to $3,000,000 for reporting critical or high-severity bugs in the Uniswap core contracts: The team is offering up to $3,000,000 to anyone who finds a bug in the Permit2 or Universal Router smart contracts.
Twitter Space: Permit2 + Universal Router.
The latest Uniswap proposals are here.
On November 16th, Uniswap became the second-largest exchange after Binance for Ethereum trading in the last 24 hours.

Payments Networks

Synthetix:

Synthetix V3 update by CC Noah.
SNXweave Weekly Recap 65.
Twitter Spaces: Spartan Space: Synthetix V3 Deep Dive; Spartan Space: Synthetix Ambassadors and Aztec Protocol.
KWENTA Token is live.

Privacy protocols for DeFi

Ren protocol:

Moving on from Alameda: As the Ren 1.0 network will be sunset within 30 days, the team highly recommends users to bridge back their Ren-assets, such as renBTC, to their native chain as soon as possible.
Ren Development Update | October 2022.