DeFi in Ether: $78B in DeFi, DeversiFi and Opera team up, Yearn launches on Arbitrum, 0x Protocol v4 NFT swap support is live, Ren introduces Catalog, Euler launches Uniswap Oracle Attack Simulator, and much more!

Paradigm

Published in

Paradigm

11 min readMar 3, 2022

Biweekly update on Ethereum DeFi ecosystem vol.48, 15th February — 3rd March

TL;DR

$78B in DeFi this week, currently at ~ $78.3B, with Maker dominance 20.77%.
Latest Aave News: New Grantees, DappLooker Spotlight, stETH Live, Starknet, Time NFTs, and more. Follow the Aave governance forum. Following a successful on-chain vote, stETH has been added as a new asset to Aave V2 and has already attracted over $130m in deposits. The development and deployment of Aave V3 on Starknet is starting after the AIP for Phase I passed which released an initial budget and included an update to the treasury smart contract. Aave Grants announced seven new grant recipients.
DeversiFi and Opera team up: Opera integrates the StarkWare powered solution, bringing the users faster, easier, and cheaper ETH P2P transactions.
Lyra partners with Hop Protocol to provide seamless bridging from Ethereum Mainnet to Optimism. This integration provides a significant improvement in the onboarding experience to L2.
Yearn launches on Arbitrum. Yearn and Notional announced integration, with Yearn allocating 15M USDC and 15M DAI to Notional’s fixed-rate lending strategies.Diving into Yearn Metrics. Clarifying 2020 Mergers; An Independent Iron Bank. What is Yearn? ShapeShift’s Partnership with Yearn.finance.
0x Protocol v4 NFT swap support is now live on Ethereum mainnet. Updated 0x Protocol v4 Bug Bounty: The 0x team announced an updated bug bounty program for 0x Protocol v4. The program is open to anyone, with rewards of up to $1M for critical exploits.
Gnosis Chain Weekly · 25 February, 2022. Hundred Finance is a borrowing and lending platform now integrated with Gnosis Chain. LI.FI, a cross-chain bridge and DEX aggregation platform facilitating any-2-any swaps, added Gnosis Chain. Also, POAPs (running on Gnosis Chain) were everywhere at EthDenver.
Find out the latest GnosisDAO proposals here.
Open minting of NFTs is now live on Loopring L2.
Euler launches Uniswap Oracle Attack Simulator, a new tool for users to simulate and quantify attack risks on v3 TWAP price oracles. Delphi Digital Daily overview of Uniswap performance and few other interesting insights in tldr twitter thread (tldr of the tldr Uniswap market share grew by over 30% over the last year and now accounts ~80% of total volume across all Ethereum spot DEXes.) The World of On Chain Generative NFT’s talk by Emily Williams on ETHDenver. The latest Uniswap proposals are here.
Ren introduced Catalog, the inaugural application developed by Ren Labs and built on the Ren blockchain (L1). VarenX is now live on Polygon.
The mStable TreasuryDAO has recently published the Q4 2021 Treasury Report. mStable is partnering with Vesper Finance to offer users access to yield opportunities without the high gas costs or active management required to realize and compound rewards. Check out mStable’s latest proposals here.
dYdX Review of Epoch 6: Seventh round of updates from the team on the ecosystem, community, mining programs, and more. dYdX fee revenue and what it pays for security.
The 1inch Foundation releases $634,000 to grantees: This batch of 1inch grants will fund a range of solutions aimed at growing out the 1inch ecosystem and improving user experience. 1inch’s spot price aggregator: an overview: The tool delivers spot price data from the blockchain, enabling immediate displays of token prices in the interfaces of websites and apps. Latest weekly recap.
The Synthetix Algieba Release: SIP-185 to add Three New Synths on Optimism with shorting: sAVAX, sMATIC, and sEUR. The Hamal Release: SIP-202 and SCCP-164 introduces a substantial change to how staking inflation is calculated and rewarded on a system-wide scale. SNXweave Weekly Recap.
Follow wallets using Zapper: This update is the first in a series of features that aim to make using Zapper more social, including an activity feed
Moloch v3 launched: Moloch, used by big-name DAOs like MetaCartel Ventures, The LAO, and Raid Guild, has launched the third version (“Baal”) of its DAO framework
UMA has partnered with Dappback to create a web3 task page that rewards you for completing web3 micro-tasks like joining our community, getting onboarded, providing content, etc. Jarvis has launched KPI Options to further incentivize LPs on Sushi Swap + Beefy Finance. In addition to the high APYs for LPs, they will earn KPI Options that will pay out based on Jarvis’ TVL.
Enzyme’s Sulu is live: Discover what Sulu has to offer the world of DeFi asset management. Enzyme’s AUM is now at an all-time high of $183M. Check out MFP: Enzyme Funding Proposals here.
Compound Proposal #85 Risk Parameter Updates for UNI, LINK, MKR, AAVE, YFI, and SUSHI passed through the governance system with broad community support.
Introducing the Inverse ETH Flexible Leverage Index: The Index Coop announced the launch of its second Inverse Flexible Leverage Index (FLI) on Polygon — iETH-FLI-P. Easy MATIC FLI issuance on the Polygon Network. Find the latest Index Coop proposals here.
The latest Balancer Report is here. Balancer DAO February Update 2022. Balancer <> Vesta Finance AMA. Balancer <> APWine AMA.
KyberSwap Product Update: Discoverable pools. ZKyber Testnet Giveaway: How to Claim KNC Rewards. Find out all Kyber proposals here. Check them out on GitHub.
Rainbow wallet raises $18 million Series A: The startup tells TechCrunch it closed an $18 million Series A led by Reddit co-founder Alexis Ohanian’s venture firm Seven Seven Six. The round closed this past October and followed a $1.5 million seed round.
Hegic HardCore beta release: Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum. With Hegic you can trade 24/7 American, cash-settled, on-chain ETH and WBTC call/put options with no KYC or registration required for trading.
0xSplits introduced and detailed: 0xSplits is the protocol for trustless, composable, gas-efficient splits. It’s non-upgradable, completely free to use, and entirely onchain.
Introducing Astrodrop Shrines: A new primitive that enables anyone to distribute any amount of any ERC20 token to a weighted list of addresses of any size
Introducing Locke Protocol: Locke is a generalized platform that enables protocol-facilitated token distribution. Locke implements streaming auctions, an efficient and equitable price discovery mechanism that can be viewed as a special case of a TWAMM.
Finally Understanding Ethereum Accounts
Coinbase Cloud on Eth2 client diversity
Maker: Past, Present and Future
The Modular Era
And more!

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Total Value Locked in DeFi

$78B in DeFi this week, currently at ~ $78.3B, with Maker dominance 20.77%.

Top DeFi Tokens by Market Capitalization

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

DeFi Aggregators

mStable:

The mStable TreasuryDAO has recently published the Q4 2021 Treasury Report.
mStable is partnering with Vesper Finance to offer users access to yield opportunities without the high gas costs or active management required to realize and compound rewards.
Check out mStable’s latest proposals here.

Yearn Finance:

Yearn launches on Arbitrum
Yearn and Notional announced integration, with Yearn allocating 15M USDC and 15M DAI to Notional’s fixed-rate lending strategies.
Diving into Yearn Metrics
Clarifying 2020 Mergers; An Independent Iron Bank
What is Yearn? ShapeShift’s Partnership with Yearn.finance

Lending

Aave:

Latest Aave News: New Grantees, DappLooker Spotlight, stETH Live, Starknet, Time NFTs, and more.
Follow the Aave governance forum.
Following a successful on-chain vote, stETH has been added as a new asset to Aave V2 and has already attracted over $130m in deposits.
The development and deployment of Aave V3 on Starknet is starting after the AIP for Phase I passed which released an initial budget and included an update to the treasury smart contract.
Aave Grants announced seven new grant recipients.

Compound:

Compound Proposal #85 Risk Parameter Updates for UNI, LINK, MKR, AAVE, YFI, and SUSHI passed through the governance system with broad community support.

Find the latest Compound proposals here.

Gnosis Chain (formerly xDai Chain):

Gnosis Chain Weekly · 25 February, 2022
Hundred Finance is a borrowing and lending platform now integrated with Gnosis Chain.
LI.FI, a cross-chain bridge and DEX aggregation platform facilitating any-2-any swaps, added Gnosis Chain.
Also, POAPs (running on Gnosis Chain) were everywhere at EthDenver.

Derivatives, Swaps and Prediction Markets

dYdX:

dYdX fee revenue and what it pays for security.
Review of Epoch 6: Seventh round of updates from the team on the ecosystem, community, mining programs, and more.

UMA:

UMA has partnered with Dappback to create a web3 task page that rewards you for completing web3 micro-tasks like joining our community, getting onboarded, providing content, etc.
Jarvis has launched KPI Options to further incentivize LPs on Sushi Swap + Beefy Finance. In addition to the high APYs for LPs, they will earn KPI Options that will pay out based on Jarvis’ TVL.

Fund Management

Enzyme Finance:

Enzyme’s Sulu is live: Discover what Sulu has to offer the world of DeFi asset management.
Enzyme’s AUM is now at an all-time high of $183M
Check out MFP: Enzyme Funding Proposals here.

Set Protocol & Index Coop:

Introducing the Inverse ETH Flexible Leverage Index: The Index Coop announced the launch of its second Inverse Flexible Leverage Index (FLI) on Polygon — iETH-FLI-P.
Easy MATIC FLI issuance on the Polygon Network
Find the latest Index Coop proposals here.

Liquidity Relays

0x project:

0x Protocol v4 NFT swap support is now live on Ethereum mainnet

Updated 0x Protocol v4 Bug Bounty: The 0x team announced an updated bug bounty program for 0x Protocol v4. The program is open to anyone, with rewards of up to $1M for critical exploits.

1inch:

1inch’s spot price aggregator: an overview: The tool delivers spot price data from the blockchain, enabling immediate displays of token prices in the interfaces of websites and apps.
The 1inch Foundation releases $634,000 to grantees: This batch of 1inch grants will fund a range of solutions aimed at growing out the 1inch ecosystem and improving user experience.

Balancer:

Bancor:

Poolz Community Can Now Stake and Earn $POOLZ on Bancor
TEMP single-sided staking is now live on Bancor

Kyber:

KyberSwap Product Update: Discoverable pools
ZKyber Testnet Giveaway: How to Claim KNC Rewards
Find out all Kyber proposals here. Check them out on GitHub.

Loopring:

Open minting of NFTs is now live on Loopring L2

Uniswap:

Euler launches Uniswap Oracle Attack Simulator, a new tool for users to simulate and quantify attack risks on v3 TWAP price oracles.
Delphi Digital Daily overview of Uniswap performance and few other interesting insights in tldr twitter thread (tldr of the tldr Uniswap market share grew by over 30% over the last year and now accounts ~80% of total volume across all Ethereum spot DEXes.)
The World of On Chain Generative NFT’s talk by Emily Williams on ETHDenver.
The latest Uniswap proposals are here.

Payments Networks

Synthetix:

The Algieba Release: SIP-185 : Add Three New Synths on Optimism with Shorting: sAVAX, sMATIC, and sEUR
The Hamal Release: Here’s what’s included in this release: SIP-202 and SCCP-164 introduces a substantial change to how staking inflation is calculated and rewarded on a system-wide scale.

-SIP-202: Target Staking Ratio: Introduce a target staking ratio incentivized through inflation.

-SCCP-164: Extend Burn Lock to 7 Days: Adjust Burn Lock from 24 hours to 7 days (168 hours).

Privacy protocols for DeFi

Ren protocol:

Ren introduced Catalog, the inaugural application developed by Ren Labs and built on the Ren blockchain (L1).
VarenX is now live on Polygon

More updates

DeversiFi and Opera team up: Opera integrates the StarkWare powered solution, bringing our users faster, easier, and cheaper ETH P2P transactions.
Lyra partners with Hop Protocol to provide seamless bridging from Ethereum Mainnet to Optimism. This integration provides a significant improvement in the onboarding experience to L2.
Rainbow wallet raises $18 million Series A: The startup tells TechCrunch it closed an $18 million Series A led by Reddit co-founder Alexis Ohanian’s venture firm Seven Seven Six. The round closed this past October and followed a $1.5 million seed round.
Follow wallets using Zapper: This update is the first in a series of features that aim to make using Zapper more social, including an activity feed
Moloch v3 launched: Moloch, used by big-name DAOs like MetaCartel Ventures, The LAO, and Raid Guild, has launched the third version (“Baal”) of its DAO framework.
0xSplits introduced and detailed: 0xSplits is the protocol for trustless, composable, gas-efficient splits. It’s non-upgradable, completely free to use, and entirely onchain.
Introducing Astrodrop Shrines: A new primitive that enables anyone to distribute any amount of any ERC20 token to a weighted list of addresses of any size
Introducing Locke Protocol: Locke is a generalized platform that enables protocol-facilitated token distribution. Locke implements streaming auctions, an efficient and equitable price discovery mechanism that can be viewed as a special case of a TWAMM.
Hegic HardCore beta release: Hegic is an on-chain peer-to-pool options trading protocol built on Ethereum. With Hegic you can trade 24/7 American, cash-settled, on-chain ETH and WBTC call/put options with no KYC or registration required for trading.