DeFi in Ether: $76B in DeFi, Gnosis Chain upgrade on April 20, Index Coop introduces icETH, Alchemix’s new alETH products detailed, Yearn leads the way on ERC-4626 adoption, The 1inch Wallet for Android released, veBAL is live, Polynomial Earn launched, and much more!
Biweekly update on Ethereum DeFi ecosystem vol.50 🎉, 29th March — 12th April
Oh, wow! These two years have come and gone by in a flash! So here is the 50th issue of ‘Defi in Ether’ — our traditional report which covers all things Decentralized Finance! Thank you, Ethereans, for reading us! We sincerely appreciate your interest and support, and will continue to do our best to deliver you high-quality content! 🦄🌈🤍
TL;DR
- $76B in DeFi this week, currently at ~ $75.98B, with Maker dominance 18.86%.
- Latest Aave News: rAAVE Amsterdam, V3 builders, Brew Mobile App spotlight, and more. Follow the Aave governance forum.
- mStable partners with Polygon as a grants partner to supercharge the ecosystem for growth. mStable x PopcornDAO — mUSD now integrated with Butter. mStable Governance Updates — 4 April 2022. Check out mStable’s latest proposals here.
- Yearn is helping the adoption of the yield bearing ERC-4626 token standard. Read in the latest Yearn Finance Newsletter #56: Curve Rocket Pool vault is live, and you can earn ETH staking rewards on 2 sides of a Curve Finance pool with Rocket Pool ETH (rETH) and Lido stETH (wstETH); Talking Strategies with Facu at ETHDubai; Joining the Yearn DAO; How Yearn uses Tenderly; Yearn contributors; YFI Boarding School; Vaults at Yearn; Ecosystem news. Tips for new DAO contributors: Advice for DAO newbies. Self-Hosting Web3 Services. Yearning for Yearn by Messari.
- Compound Proposal 99 OpenZeppelin Security Partnership — 2022 Q2 Adjustment V3 is in the voting period.
- Gnosis Chain Weekly · 8 April, 2022: Network upgrade, incentives, deployments and more. Hardfork is coming on April 20th, if you are running a GC node, upgrade now. Community call Monday discussed GIP34 — reimbursement for Agave. Staking and Stakewise Liquid Staking growing by leaps and bounds. Having trouble keeping up with incentive options on GC? Check here. Join Gnosis Chain, Azuro and more on April 19 in Amsterdam at the Hacker House and After Party.
- The 1inch Wallet for Android released: This version of 1inch’s popular mobile wallet enables Android users to take advantage of convenient token swaps at the most competitive rates, as well as other functionality.
- UNI Letters: Edition #16. Uniswap Labs believes the community should be empowered to make informed governance decisions about cross-chain deployments, which can be highly technical & complex. The team has proposed a template for these proposals to the Uniswap Governance Forum.
- ETC-USD is now live. Start trading Ethereum Classic (ETC) today on dYdX, with up to 10x leverage. There are now 31 markets available to traders on dYdX, with more coming soon.
- The UMA team attended ETHPortland. UMA-engineered Fox success tokens draw Coinbase Ventures and Chapter One investment: Investment firms participated in ShapeShift DAO’s latest fundraise using Success Tokens minted with UMA; this represents one of the industry’s first “DeFi native” raises, with disintermediated smart contracts replacing legal contract enforcement.
- Index Coop introduces icETH, The Interest Compounding ETH Index. Find the latest Index Coop proposals here.
- Enzyme’s Polygon deployment is live. Enzyme has partnered with Coinbase to provide users $1 in MLN. Check out MFP: Enzyme Funding Proposals here.
- veBAL is live: BAL holders and Balancer Liquidity Providers now receive a host of benefits with veBAL. The latest Balancer Report is here. Twitter Thread by Balancer Labs on all things pool types. Dive straight in. Balancer V2 is being used to provide market data as part of DIAs oracle service.
- $1 Million Bancor 3 Bug Bounty & Code Release: As the launch of Bancor 3 approaches, the team releases the Bancor 3 code and announces the start of the Bancor 3 Bug Bounty Program. The Bancorian Brief |April 4th, 2022.
- Kyber Network soars after integrating with Uniswap v3 and Avalanche Rush Phase 2. BENQI Liquidity Mining on KyberSwap Continues with $QI & $KNC Rewards. Find out all Kyber proposals here. Check them out on GitHub.
- Loopring Quarterly Update (Q1/2022). Loophead Drop #3: 1,000 Loophead NFTs + 1,000 Wearable NFTs up for grabs. GameStop NFT Marketplace is here, powered by Loopring L2: The GameStop NFT Marketplace has taken its first steps to welcome users.
- The State Of The Raiden Network: Reflections on our origins, progress & future.
- Basics of Staking SNX — 2022. Synthetix Weekly — April 6th 2022. SNXweave Weekly recap.
- Scoopy details Alchemix’s new alETH products: The team has deployed the stETH and rETH vaults (in beta with small caps now).
- Polynomial Earn launched: Polynomial Earn is the first DeFi Options Vault (DOV) project to execute on-chain via an AMM, all with the speed and cheap transactions powered by Optimism.
- Zapper’s iOS mobile app enters beta testing phase: If you hold a Zapper NFT of any kind from any season, you are invited to participate in the beta teating phase for the iOS mobile app,
- Flashbots Protect Fast Mode announced: Fast mode is a way of using the Flashbots relay with a different set of tradeoffs, giving you more choice when transacting on Ethereum.
- Sign-In with Ethereum March update: Sign-In with Ethereum offers a new self-custodial authentication option for users who wish to assume more control and responsibility over their own digital identity.
- DeFi Saver introduces automated stop loss and take profit options for Maker vaults: These new automated strategies allow users to set threshold prices below (or above) which their CDPs would be automatically closed, securely and trustlessly.
- Presenting Elixir. The Alchemix Algorithmic Market Operator (AMO): The Elixir will deploy the current Alchemix v1 Transmuter funds for both alUSD and alETH, currently totaling ~120m DAI and ~38k ETH, and then deposits them into our alUSD3CRV and alETH Curve LP pools. This makes us an active LP, owning ~40% of the total liquidity.
- veDAO to relaunch on Optimism: veDAO launched to give ordinary folks an opportunity to own a portion of Solidly, a revolutionary AMM from Andre Cronje on Fantom.
- CoWDAO closes a $23M investment round: The fundraising will be leveraged to establish CoW Protocol as the primary price finding layer for all digital assets traded on EVM chains, as well as funding the ecosystem development.
- Convex Finance and OpenZeppelin uncovered a rug pull exploit that could’ve cost $15B.
- The Bullish Case for MKR | Sam MacPherson, Niklas Kunkel & monetsupply.eth on Bankless.
- Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky on Unchained.
- Decentralization for Web3 Builders: Principles, Models, How.
- View stats of a specific DEX pool using this dashboard.
- And more!
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Total Value Locked in DeFi
$76B in DeFi this week, currently at ~ $75.98B, with Maker dominance 18.86%.
Top DeFi Tokens by Market Capitalization
Total Market Cap: $92,930,729,087
DeFi Aggregators
mStable:
- mStable partners with Polygon as a grants partner to supercharge the ecosystem for growth.
- mStable x PopcornDAO — mUSD now integrated with Butter
- mStable Governance Updates — 4 April 2022
- Check out mStable’s latest proposals here.
Yearn Finance:
- Yearn is helping the adoption of the yield bearing ERC-4626 token standard.
- Tips for new DAO contributors: Advice for DAO newbies
- Self-Hosting Web3 Services
- Yearning for Yearn by Messari.
- Read in the latest Yearn Finance Newsletter #56:
- Introducing Yearn’s Newest and Most Powerful Vault: Curve Rocket Pool vault is live, and you can earn ETH staking rewards on 2 sides of a Curve Finance pool with Rocket Pool ETH (rETH) and Lido stETH (wstETH).
- Talking Strategies with Facu at ETHDubai
- Joining the Yearn DAO: Onboarding
- How Yearn Uses Tenderly
- Yearn Contributors
- YFI Boarding School
- Vaults at Yearn
- Ecosystem News
Lending
Aave:
- Latest Aave News: rAAVE Amsterdam, V3 Builders 🧵, Brew Mobile App Spotlight, and more.
- Follow the Aave governance forum.
Compound:
- Compound Proposal 99 OpenZeppelin Security Partnership — 2022 Q2 Adjustment V3 is in the voting period.
- Find the latest Compound proposals here.
Gnosis Chain (formerly xDai Chain):
Gnosis Chain Weekly · 8 April, 2022: Network upgrade, incentives, deployments and more.
- Hardfork is coming on April 20th, if you are running a GC node, upgrade now.
- Community call Monday to discuss GIP34 — reimbursement for Agave.
- Staking and Stakewise Liquid Staking growing by leaps and bounds.
- Having trouble keeping up with incentive options on GC? Check here.
- Join Gnosis Chain, Azuro and more April 19 in Amsterdam at the Hacker House and After Party.
Derivatives, Swaps and Prediction Markets
dYdX:
- ETC-USD is now live. Start trading Ethereum Classic (ETC) today on dYdX, with up to 10x leverage. There are now 31 markets available to traders on dYdX, with more coming soon.
UMA:
- UMA attended ETHPortland
- UMA-engineered Fox success tokens draw Coinbase Ventures and Chapter One investment: Investment firms participated in ShapeShift DAO’s latest fundraise using Success Tokens minted with UMA; this represents one of the industry’s first “DeFi native” raises, with disintermediated smart contracts replacing legal contract enforcement.
Fund Management
Enzyme Finance:
- Enzyme’s Polygon deployment is live
- Enzyme has partnered with Coinbase to provide users $1 in MLN
- Check out MFP: Enzyme Funding Proposals here.
- Enzyme Finance Review
Index Coop:
- Find the latest Index Coop proposals here.
- Index Coop introduces icETH, The Interest Compounding ETH Index.
Liquidity Relays
0x project:
1inch:
- The 1inch Wallet for Android released: This version of 1inch’s popular mobile wallet enables Android users to take advantage of convenient token swaps at the most competitive rates, as well as other functionality.
Balancer:
- veBAL is live: BAL holders and Balancer Liquidity Providers now receive a host of benefits with veBAL.
- The latest Balancer Report is here.
- Great Twitter Thread by Balancer Labs on all things pool types. Dive straight in.
- Balancer V2 is being used to provide market data as part of DIAs oracle service.
Bancor:
- $1 Million Bancor 3 Bug Bounty & Code Release: As the launch of Bancor 3 approaches, the team releases the Bancor 3 code and announces the start of the Bancor 3 Bug Bounty Program.
- The Bancorian Brief |April 4th, 2022
Kyber:
- BENQI Liquidity Mining on KyberSwap Continues with $QI & $KNC Rewards
- Find out all Kyber proposals here. Check them out on GitHub.
- Kyber Network soars after integrating with Uniswap v3 and Avalanche Rush Phase 2
Loopring:
- Loopring Quarterly Update (Q1/2022)
- Loophead Drop #3: 1,000 Loophead NFTs + 1,000 Wearable NFTs up for grabs.
- GameStop NFT Marketplace is here, powered by Loopring L2: The GameStop NFT Marketplace has taken its first steps to welcome users.
Uniswap:
- UNI Letters: Edition #16
- Uniswap Labs believes the community should be empowered to make informed governance decisions about cross-chain deployments, which can be highly technical & complex. The team has proposed a template for these proposals to the Uniswap Governance Forum.
Payments Networks
Raiden Network:
Synthetix:
Privacy protocols for DeFi
Ren protocol:
More updates
- Scoopy details Alchemix’s new alETH products: The team has deployed the stETH and rETH vaults (in beta with small caps now).
- Polynomial Earn launched: Polynomial Earn is the first DeFi Options Vault (DOV) project to execute on-chain via an AMM, all with the speed and cheap transactions powered by Optimism.
- Zapper’s iOS mobile app enters beta testing phase: If you hold a Zapper NFT of any kind from any season, you are invited to participate in the beta teating phase for the iOS mobile app,
- Flashbots Protect Fast Mode announced: Fast mode is a way of using the Flashbots relay with a different set of tradeoffs, giving you more choice when transacting on Ethereum.
- Sign-In with Ethereum March update: Sign-In with Ethereum offers a new self-custodial authentication option for users who wish to assume more control and responsibility over their own digital identity.
- DeFi Saver introduces automated stop loss and take profit options for Maker vaults: These new automated strategies allow users to set threshold prices below (or above) which their CDPs would be automatically closed, securely and trustlessly.
- Presenting Elixir. The Alchemix Algorithmic Market Operator (AMO): The Elixir will deploy the current Alchemix v1 Transmuter funds for both alUSD and alETH, currently totaling ~120m DAI and ~38k ETH, and then deposits them into our alUSD3CRV and alETH Curve LP pools. This makes us an active LP, owning ~40% of the total liquidity.
- veDAO to relaunch on Optimism: veDAO launched to give ordinary folks an opportunity to own a portion of Solidly, a revolutionary AMM from Andre Cronje on Fantom.
- CoWDAO closes a $23M investment round: The fundraising will be leveraged to establish CoW Protocol as the primary price finding layer for all digital assets traded on EVM chains, as well as funding the ecosystem development.
MISC
- Convex Finance and OpenZeppelin uncovered a rug pull exploit that could’ve cost $15B.
- The Bullish Case for MKR | Sam MacPherson, Niklas Kunkel & monetsupply.eth on Bankless
- Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky on Unchained
- Decentralization for Web3 Builders: Principles, Models, How
- View stats of a specific DEX pool using this dashboard
This is not financial advice.
Subscribe to ‘Defi in Ether’ newsletter ⬙
For more updates, join Paradigm on Medium, Twitter, Telegram, Telegram Chat, LinkedIn, and Reddit.
