DeFi in Ether: $45B in DeFi, Gnosis Chain Chiado Shapella successfully activated, Curve Tricrypto-ng deployed & swap gas costs halved, KyberAI is now in Beta, Optimism yVaults boosted yields are live, Enzyme announced a new trading UI, and much more!
Biweekly update on the Ethereum DeFi ecosystem vol.74, 23rd May — 6th June
TL;DR
- $45.5B in DeFi this week with Lido dominance 28.67%.
- Lido is over 36% of staked ETH. Reminder: don’t allocate capital to LSDs exceeding 25% of staked ETH. Join the 7th Node Operator Community Call at 17 UTC.
- Etherscan adds advanced filters for transaction searches, beta
- Curve Tricrypto-ng (next generation of pools) deployed, swap gas costs halved.
- A Metric to Evaluate LP Competitiveness in AMMs: New Uniswap research introduces FLAIR, a metric to calculate LP performance that includes LPs competing for trading fees within the same pool. 200k wallet downloads in just 6 weeks. The Uniswap community did not pass the fee switch proposal in a feedback poll. Uniswap Labs at the NY Computer Science Fair: Uniswap Labs attended the NY Computer Science Fair, where they spoke with high schoolers about crypto, DeFi, NFTs, and more. Minting for the Decentxyz Mystery Box is now live.
- 0x Dev Digest: May 2023: A round-up of the latest 0x news, product updates, and developer resources. 0x co-CEO Will Warren leads the first workshop from the “Decreasing Frictions in DeFi” online Hackathon.
- 1inch Monthly Digest: May 2023 is out. 1inch all set for Money 20/20 Europe: This week, the 1inch Network’s team is heading to Amsterdam for Money 20/20 to take part in insightful discussions, share innovative ideas and host some exciting activities. 1inchWallet v1.14 for Android was released.
- Latest Aave News: ETHGlobal Lisbon hackathon winners & your next chance to hack at ETHPrague 🇵🇹🇨🇿 Plus, rETH eMode, Aave Robot & Skyward. You can now view your transaction history on the Aave Interface: Visit http://app.aave.com to explore. Follow the Aave governance forum.
- The latest Balancer Report. Inside Balancer Contracts — A Composable Symphony (3). The proposal to include Aura and Balancer BPTs into Aave’s safety module has passed the temperature check. The E-CLP $stMATIC / $MATIC pool is currently at a 116% utilization rate.
- Compound launches on Arbitrum; Transaction History now available in-app. Compound Proposal 163 ‘Gauntlet <> Compound Incentive Optimization’ and Proposal 162 ‘Interest Rate Curve Updates for Ethereum Compound v3 USDC’ have passed successfully. Find the latest Compound proposals here.
- Enzyme now supports supplying to Aave V3 liquidity pools. Also, Enzyme announced a new trading UI, with extended support for ParaSwap v5. Check out MFP: Enzyme Funding Proposals here.
- Gnosis Chain Chiado Shapella has been successfully activated. Next > Gnosis Chain Mainnet. Join the team for a live demo on Discord: The upcoming edition with Connext Network will showcase the Chain Abstraction ToolkitL June 7, Wednesday. Chainlink’s wstETH price feed is now live on Ggnosis chain.
- The Beta launch of KyberAI is here, the AI-powered tool that will revolutionize the trading journey for any DeFi explorer. Unleashing the Power of KyberAI: Revolutionize DeFi Trading. Find out all Kyber proposals here. Check them out on GitHub.
- The Hedge | 1 June 2023: Brought to you by the Nexus Mutual DAO. In this edition, they are focusing on the latest developments in staking at Nexus Mutual V2. The protocol has transformed into a risk infrastructure layer. Community proposals of these weeks.
- Sunsetting Perps V1: Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. These markets have been in close-only mode for 3 months, but there are still some positions that haven’t been closed. Synthetix Perps: The First Six Months by Frogs Anonymous: Six months have passed since Synthetix launched the v2 upgrade for their perpetual futures. In this article, they’ll do a breakdown of relevant performance statistics. SNXweave Weekly Recap 9. Long women in crypto. Loopring Smart Wallet w/ Social Recovery — Your Ultimate Crypto Security Guide. Check out the knowledge base for all things Loopring L2.
- Yearn Finance yNewsletter #65: Optimism yVaults boosted yields are live; Dump.Services; ApeWorX Ltd Debut: Chaosnet; yAcademy and yAuditDao, community and ecosystem news.
- The EU has signed new crypto licensing and money laundering rules into law.
- Robert Kennedy Jr. slammed the SEC for its action with crypto, claiming it protects banks instead of the American people.
- Discussion draft legislation may have outlined regulatory clarity for crypto and a path forward.
- Ethereum Protocol Fellowship cohort four applications are open.
- Vitalik: overloading Ethereum’s social consensus is high-risk, app devs & Layer 2s need to find alternatives to achieve their security goals, and there will be no bailouts.
- Taylor warns of targeted spearphishing.
- And more!
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Statistics 📈
Total Value Locked in DeFi
- $45.5B in DeFi this week with Lido dominance 28.67%.
Total Value Locked in Ethereum DeFi
Top DeFi Tokens by Market Capitalization
Total Market Cap: $92,930,729,087
Latest News
0x project
0x is an open protocol that enables the peer-to-peer exchange of assets on the Ethereum blockchain.
- 0x Dev Digest: May 2023: A round-up of the latest 0x news, product updates, and developer resources.
- Fundamentals: What are gas fees? A quick explainer on gas fees.
- 0x co-CEO Will Warren leads the first workshop from the “Decreasing Frictions in DeFi” online Hackathon.
1inch
1inch is a decentralized exchange aggregator that aims to provide traders with the best price and lowest fees on their transactions.
- 1inch Monthly Digest: May 2023 is out.
- 1inchWallet v1.14 for Android was released.
- 1inch all set for Money 20/20 Europe: This week, the 1inch Network’s team is heading to Amsterdam for Money 20/20 to take part in insightful discussions, share innovative ideas and host some exciting activities.
- Anonymity and privacy in crypto.
- Ponzi schemes in crypto.
Aave
Aave is a lending system that allows users to lend, borrow, and earn interest on crypto assets.
- Latest Aave News: ETHGlobal Lisbon hackathon winners & your next chance to hack at ETHPrague 🇵🇹🇨🇿 Plus, rETH eMode, Aave Robot & Skyward.
- You can now view your transaction history on the Aave Interface: Visit http://app.aave.com to explore.
- Follow the Aave governance forum.
Balancer
Balancer is a decentralized exchange protocol, automated portfolio manager, liquidity provider, and price sensor that is community-driven.
- The latest Balancer Report.
- Inside Balancer Contracts — A Composable Symphony (3).
- The E-CLP $stMATIC / $MATIC pool is currently at a 116% utilization rate.
- The proposal to include Aura and Balancer BPTs into Aave’s safety module has passed the temperature check.
- With $110 million in liquidity, over $7.3 billion in swap volume, $7.3 million returned to LPs from swap fees, and a recent governance vote to integrate LSTs into the mix. Aave is showcasing the power of the 8020 model.
Bancor
Bancor is a blockchain-based platform that acts as software that incentivizes network participants to add crypto funds to liquidity pools.
- Get involved in Bancor DAO at gov.bancor.network.
Compound
Compound is an algorithmic, autonomous interest rate protocol built for developers, to unlock a universe of open financial applications.
- Compound launches on Arbitrum; Transaction History now available in-app.
- Compound Proposal 163 ‘Gauntlet <> Compound Incentive Optimization’ and Proposal 162 ‘Interest Rate Curve Updates for Ethereum Compound v3 USDC’ have passed successfully.
- Find the latest Compound proposals here.
Enzyme Finance
Enzyme Finance, previously named Melon Protocol, is a protocol built on Ethereum that allows users to create, manage and invest in custom crypto asset management vehicles.
- Enzyme now supports supplying to Aave V3 liquidity pools.
- Also, Enzyme announced a new trading UI, with extended support for ParaSwap v5.
- Check out MFP: Enzyme Funding Proposals here.
Gnosis Chain
Gnosis Chain, formerly xDai Chain, is the associated execution-layer EVM (Ethereum Virtual Machine) chain for stable transactions.
- Gnosis Chain Chiado Shapella has been successfully activated. Next > Gnosis Chain Mainnet.
- Join the team for a live demo on Discord: The upcoming edition with Connext Network will showcase the Chain Abstraction ToolkitL June 7, Wednesday.
- Chainlink’s wstETH price feed is now live on Gnosis chain.
Kyber
Kyber Network is a multi-chain crypto trading and liquidity hub that connects liquidity from different sources to enable trades at the best rates.
- The Beta launch of KyberAI is here, the AI-powered tool that will revolutionize the trading journey for any DeFi explorer.
- Unleashing the Power of KyberAI: Revolutionize DeFi Trading.
- Find out all Kyber proposals here. Check them out on GitHub.
Lido
Lido is a liquid staking solution for proof-of-stake cryptocurrencies.
- Lido is over 36% of staked ETH. Reminder: don’t allocate capital to LSDs exceeding 25% of staked ETH.
- Join the 7th Node Operator Community Call at 17 UTC.
Loopring
Loopring is a zkRollup layer2. It allows for high-throughput, low-cost trading and payment on Ethereum.
- Loopring Smart Wallet w/ Social Recovery — Your Ultimate Crypto Security Guide.
- Check out the knowledge base for all things Loopring L2.
Nexus Mutual
Nexus Mutual is an Ethereum-based platform that creates insurance products with community-driven management and financials.
- The Hedge | 1 June 2023: Brought to you by the Nexus Mutual DAO. In this edition, they are focusing on the latest developments in staking at Nexus Mutual V2. The protocol has transformed into a risk infrastructure layer.
- Community proposals of these weeks.
Synthetix
Synthetix is a new financial primitive enabling the creation of synthetic assets, offering unique derivatives and exposure to real-world assets on the blockchain.
- Sunsetting Perps V1: Synthetix governance has approved SCCP 2008, a plan to sunset Perps V1 markets. These markets have been in close-only mode for 3 months, but there are still some positions that haven’t been closed.
- Synthetix Perps: The First Six Months by Frogs Anonymous: Six months have passed since Synthetix launched the v2 upgrade for their perpetual futures. In this article, they’ll do a breakdown of relevant performance statistics.
- SNXweave Weekly Recap 9.
- Long women in crypto.
Uniswap
Uniswap is an automated Ethereum-based decentralized exchange.
- A Metric to Evaluate LP Competitiveness in AMMs: New Uniswap research introduces FLAIR, a metric to calculate LP performance that includes LPs competing for trading fees within the same pool.
- 200k wallet downloads in just 6 weeks.
- The Uniswap community did not pass the fee switch proposal in a feedback poll.
- Uniswap Labs at the NY Computer Science Fair: Uniswap Labs attended the NY Computer Science Fair, where they spoke with high schoolers about crypto, DeFi, NFTs, and more.
- Minting for the Decentxyz Mystery Box is now live.
Yearn Finance
Yearn Finance is an open-source DeFi lending protocol based on the Ethereum blockchain.
- Optimism yVaults boosted yields are live
- Dump.Services
- ApeWorX Ltd Debut: Chaosnet
- yAcademy
- yAuditDao
- Community and Ecosystem News
More updates
- Etherscan adds advanced filters for transaction searches, beta.
- Curve Tricrypto-ng (next generation of pools) deployed, swap gas costs halved.
- The EU has signed new crypto licensing and money laundering rules into law.
- Robert Kennedy Jr. slammed the SEC for its action with crypto, claiming it protects banks instead of the American people.
- Discussion draft legislation may have outlined regulatory clarity for crypto and a path forward.
- Ethereum Protocol Fellowship cohort four applications are open.
- Vitalik: overloading Ethereum’s social consensus is high-risk, app devs & Layer 2s need to find alternatives to achieve their security goals, and there will be no bailouts.
- Taylor warns of targeted spearphishing.
Subscribe to the ‘Defi in Ether’ newsletter 📩
For more updates, join Paradigm on Medium, Twitter, Telegram, Telegram Chat, LinkedIn, and Reddit.
