StakerDAO Scouts
August 2020
Proof of Stake:
Near Protocol crashed the CoinList website after it began its token sale on their platform and user traffic far outpaced what CoinList could manage. Polkadot’s tokens, DOT, were also unlocked this month. Polkadot began trading just a few days ago while Celo will begin trading on August 31st on Coinbase Pro and both began the countdown for inclusion into the Blend* basket by StakerDAO.
Governance and DeFi:
Throughout August, 3 DeFi protocols crossed $1bn in assets locked within their protocol. These protocols include MakerDAO, Aave, and Curve with Aave currently in the lead by about $80mn. DEX volume has also greatly increased as daily volume starts to regularly approach between $300–500mn. 1inch.exchange was also criticized for its token distribution across Twitter as users felt the portion of tokens reserved for users was too small (single digit %). Huobi also launched a DeFi incubator to research and develop projects.
Traditional Finance and Venture Deals:
In an SEC filing, Pantera disclosed raising $165mn for a venture fund; Electric Capital also raised $110mn for their early-stage, crypto and fintech focused fund. Uniswap, the decentralized exchange, raised $11mn from VCs while 1inch.exchange, the DEX aggregator, raised $2.8mn. Square’s Cash App also did $875mn in purchase volume throughout Q2 2020, bringing its lifetime purchase volume to $1.8bn. Lastly, crypto ETP provider, 21Shares crossed $100mn in AUM.
*This notice does not constitute an offer of any securities for sale. BLND is not offered and may not be sold to or for the benefit of any “U.S. person” as that term is defined under U.S. securities law. If you are a U.S. person you may not purchase BLND.
