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This is an email from The Wild Forest, a newsletter by Stakingbits.

DeFi Monthly #2 — October 2021

In this monthly newsletter for Stakingbits, we will cover a roundup of interesting news about DeFi for the month of October. If you like this series, please subscribe to our newsletter and follow us on Twitter for the latest updates!

What’s caught our attention 👀

  • Aave and Curve launch on Avalanche: Aave and Curve both launched on Avalanche network following the Avalanche Rush liquidity mining program. Check out our guides for Aave and Curve respectively.
  • yEarn and Cream Finance deploy on Fantom: yEarn Vaults and Iron Bank are coming to Fantom network with the first vaults on Fantom being yvWFTM, yvUSDC, yvDAI, and yvMIM.
  • Fantom surpassed 100 million transactions: Fantom network continues its growth with more than 100m transactions, 950K unique wallets and 80K daily active wallets.
  • Paraswap launches on Avalanche: DEX aggregator Paraswap has integrated protocols like Curve and Aave on Avalanche
  • Market.xyz launches on Polygon: Market allows users to earn yield and leverage their assets in isolated lending markets.
  • Abracadabra Money hits US$3b TVL: TVL across Abracadabra’s lending markets surpassed US$3b as they support new collateral like $SHIB and $FTT.
  • NEAR launches $800 million grants fund for DeFi: The NEAR ecosystem announced a monumental $800 million in funding initiatives targeted at accelerating growth, including $350 million in funding announced by Proximity Labs.
  • Polygon pays out US$2m bounty for critical vulnerability: Polygon protocol has paid out a record $2 million bounty to a white hat hacker who discovered a critical vulnerability, which would have put about $850 million of capital at risk.
  • Cream Finance exploited, attacker made over US$130 million: Cream Finance, a decentralized lending protocol, was exploited in a complex transaction costing over US$36K, resulting in significant losses to the protocol. The Ethereum V1 market has been completely drained.

What’s worth reading further 📖

  • Bitcoin ETF launches and becomes too popular: Just days after launch, the Proshares Bitcoin Strategy ETF ($BITO) is already on track to breach a limit on the number of futures contracts it is permitted to hold by the Chicago Mercantile Exchange
  • Visa proposes a cross-chain payment system: Visa is working on a universal payment channel project that connects blockchain networks to a variety of cryptocurrencies, stablecoins and central bank digital currencies (CBDCs).
  • Mastercard partners with Bakkt to offer Crypto across its payments network: Mastercard is set to announce that the thousands of banks and millions of merchants on its payments network will soon be able to integrate crypto into its products
  • Tether settles CFTC charges: Tether and Bitfinex will pay $42.5 million to settle civil charges from the U.S. Commodity Futures Trading Commission (CFTC) over allegedly making misleading statements and making illegal transactions.

What’s published on stakingbits ✍️

  • Guide to Yield Farming Curve on Avalanche: Following Aave’s deployment on Avalanche, Curve Finance has also launched its first set of pools on Avalanche with juicy yields of up to 41.9% for liquidity providers with relatively low risk.
  • Polygon minimum gas fee is now 30 Gwei to curb spam: In an attempt to curb malicious behavior, Polygon announced in a forum post that it would be raising its network fees from 1 Gwei to 30 Gwei.
  • How to stop getting rugged by DeFi Sandwich Attacks with these tools: We explain how you can prevent sandwich attacks with tools like MistX, ArcherSwap and Flashbots RPC.
  • Bitcoin ETFs are coming — here’s what you need to know: A quick primer on what Bitcoin ETFs mean and what they are not
  • Here’s how you can get paid to own a house with DeFi self-repaying loans: We wrote about a strategy on how you can use MIM in DeFi to get paid while owning a house
  • How to cancel an Ethereum transaction: A guide on how you can cancel or speed up a stuck Ethereum transaction
  • Liquidity incentives redefined — Olympus Pro and UMA Options: Read about how newer protocols are redefining how they do liquidity mining incentives with protocol-owned liquidity
  • Identify potential airdrops with DeFiLlama’s Airdrop page: If you’re an airdrop farmer, read about how you can spot potential airdrops
  • xPollinate V2 Cross-chain Bridge Guide: A guide on how you can use xPollinate bridge to bridge stables across EVM-compatible chains
  • Curve CRV Yield Farming/Triple Dipping Strategy with Convex: We wrote about several CRV yield farming strategies including triple-dipping rewards with Convex Finance
  • Market Protocol — permissionless lending markets on Polygon and L2s for any asset: Read about Market, a protocol bringing permissionless lending markets to layer 2s and cheaper EVM-compatible chains

Subscribe to our newsletter so that you don’t miss our latest updates!

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