DeFi in Ether: $34 in DeFi, Compound v3 is live, KyberSwap integrates Chainlink Price Feeds, Loopring Layer 2 ETH staking has arrived, dYdX V4 milestones, Dai bridge live on Arbitrum Nova, 1inch integrates with Aurora, Alexey Pertsev pre-trial detention extended by up to 90 days, Yearn rebranded, and more!
Biweekly update on the Ethereum DeFi ecosystem vol.59, 16th August — 30th August
TL;DR
- $34.3B in DeFi this week, currently at ~ $34.35B, with Maker dominance 22.99%.
- Compound v3 is live, single borrowable asset, collateral won’t earn interest. Compound Proposals 116 ‘Initialize Compound III (USDC on Ethereum)’ and 117 ‘Compound Oracle Upgrade v3’ have passed successfully. Find the latest Compound proposals here.
- mStable Governance Updates — 15 Aug 2022 are out. MCCP 24: Reduce weekly MTA emissions has passed and is about to be executed — this will reduce the emissions of the Emissions Controller by 45% and extend the emissions schedule from 6 years to 12. Check out mStable’s latest proposals here.
- Maker & Huntingdon Valley Bank first commercial loan.
- Dai bridge live on Arbitrum Nova.
- Yearn x ETHOnline Hackathon. Apply at online.ethglobal.com, registration closes on August 30th. Rebranding Yearn, consistency from chaos: Yearn rebranded.
- Latest Aave News: Claim your reputation-based NFT from Orange Protocol & apply to lead events at AGD. Current votes include: ETHPoW Stance, Adding MAI and LUSD, Risk Updates, FEI Market Parameters & Converting aFEI. The Aave V3 retroactive funding snapshot vote is live. Follow the Aave governance forum.
- Gnosis Chain Weekly · 26 August 2022: The Graph, a blockchain indexing protocol, selected Gnosis Chain this week as their first new supported chain. DeNet added Gnosis. Hopr created an RPC setup for Gnosis Chain featuring two Nethermind nodes. FoxWallet integrated Gnosis Chain.
- V4 Milestones: The dYdX team has split the development of the blockchain into several milestones so that they can test early-and-often, allowing them to validate the assumptions, find bottlenecks, fix bugs, and gather product feedback. Each of the milestones contains a set of features to be built. Each milestone also specifies the release of a new network, or a significant evolution of an existing network. This serves to expand the scope and quality of integration testing that the team will be able to perform. Tornado Cash Update: dYdX has updated the compliance checks in partnership with their compliance partner to account for recent developments, and dYdX is currently blocking less than 0.1% of wallets connected to the exchange. Employee Referral Program: dYdX’s employee referral program is now live. Send the team your high quality referrals and if they hire them, you will receive $15,000.
- Connect with UMA and earn prizes at ETHOnline hackathon. This week on The Defiant Podcast hosts speak to Hart Lambur, co-founder of the UMA protocol. Day in the Life at UMA: Chandler De Kock, growth specialist.
- The State of Enzyme’s Tokenomics: Enzyme has revamped its Tokenomics model to drive sustainable growth. Nexus Mutual has deposited 15,348 ETH ($25M) into Enzyme. Asset managers can now access Curve Finance via Enzyme’s Polygon deployment. Check out MFP: Enzyme Funding Proposals here.
- Nexus Mutual Newsletter | 24 August 2022: Deposit made into Enzyme Vault, to Maven 11’s Pool on Maple Finance Following the recent capital pool investment into the Maven 11 wETH pool, the team believe it’s a good time to review Nexus Mutual’s current capital pool holdings.Hugh Karp was presenting at the inaugural DeFi Security Summit on 27/28 August at Stanford. Community proposals of these weeks. Nexus Mutual Mutant Meetup Call | 23 August 2022.
- 1inch integrates with Aurora: The integration offers users access to faster and cheaper transactions on a number of DEXes. How the 1inch API integration powers Zerion Wallet’s most efficient swaps: The 1inch API continues to improve Zerion users’ trading experience by offering the most attractive rates in the shortest time. The 1inch Wallet v1.5 for Android was released. 1INCH was listed on Kraken. Exploring the NFT space and its emerging opportunities DeFi Visions: Camila Ramos: In the new installment of DeFi Visions, a series of video interviews in which 1inch talks to the most prominent projects and personalities.
- The latest Balancer Report is here. An article going into how to increase veBAL benefits. Ithil will create a DeFi investment strategy based on Balancer and Aura. Valory is building Smart Managed Pools on Balancer. Boot Finance will build an Underwriting Market Maker custom pool. Balancer Leads the Yield Bearing Token Revolution.
- Bancor Update — Week of August 22nd, 2022: Update Whitelist Requirements Proposal. Analysis of Bancor and the ETH Merge. UI deposits resumed. DeFi Llama integration live. Crown Capital Twitter Spaces. Auto-Compounding Rewards are now live on Bancor. Crown Capital on Bancor V3: A case study of why Bancor is the perfect place to bootstrap long tail tokens. Get involved in Bancor DAO at gov.bancor.network.
- KyberSwap integrates Chainlink Price Feeds to facilitate its DeFi and DAO operations. Tornado Cash & Decentralization — CEO’s Reflections by Victor Tran. Important Community Update about KyberSwap Elastic Farms. Find out all Kyber proposals here. Check them out on GitHub.
- Lido Staked ETH on Loopring L2: Loopring Layer 2 ETH staking has arrived. Introducing DAO Voting: The first stage of Loopring DAO voting begins. As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.
- Uniswap Foundation to be created after 86 million UNI voted in favor. Building Your First Uniswap Integration: Build your first on chain integration with the Uniswap Protocol. Twitter Space: Sourcing, Analyzing, and Using On-chain Data. The latest Uniswap proposals are here.
- The Synthetix community is considering putting an end to its inflationary economics in ten weeks’ time. Another weekly recap from SNX Weave, another weekly summary from Synthetix. Twitter Space: Spartan Space: New Polynomial Option Vaults built on Synthetix.
- Raiden Pulse #21: Updates From Q2 2022: Another quarterly update covering all sorts of news and progress across strategy, product, and community.
- Fei Labs proposal to wind down Tribe DAO, disagreement over repayment of hack victims.
- Alexey Pertsev pre-trial detention extended by up to 90 days.
- Tether waiting on law enforcement instruction before freezing Tornado Cash addresses.
- Coinbase US voter registration portal to support crypto-forward policymakers.
- Coinbase cb.id subdomains are live.
- Y Combinator alumni secured $80M in funding to make a DAO to back crypto startups.
- Ethereum has made an official blog post about the merge.
- Ethereum Uncensored with Justin Drake.
- And more!
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Total Value Locked in DeFi
$34.3B in DeFi this week, currently at ~ $34.35B, with Maker dominance 22.99%.
Top DeFi Tokens by Market Capitalization
Total Market Cap: $92,930,729,087
DeFi Aggregators
mStable:
- mStable Governance Updates — 15 Aug 2022 are out
- MCCP 24: Reduce weekly MTA emissions has passed and is about to be executed — this will reduce the emissions of the Emissions Controller by 45% and extend the emissions schedule from 6 years to 12.
- Check out mStable’s latest proposals here.
Yearn Finance:
- Yearn x ETHOnline Hackathon. Apply at online.ethglobal.com, registration closes on August 30th.
- Rebranding Yearn, consistency from chaos: Yearn rebranded.
Lending
Aave:
- Latest Aave News: Claim your reputation-based NFT from Orange Protocol & apply to lead events at AGD. Current votes include: ETHPoW Stance, Adding MAI and LUSD, Risk Updates, FEI Market Parameters & Converting aFEI.
- Follow the Aave governance forum.
- The Aave V3 retroactive funding snapshot vote is live.
Compound:
- Compound v3 is live, single borrowable asset, collateral won’t earn interest.
- Compound Proposals 116 ‘Initialize Compound III (USDC on Ethereum)’ and 117 ‘Compound Oracle Upgrade v3’ have passed successfully.
- Find the latest Compound proposals here.
Gnosis Chain (formerly xDai Chain):
-The Graph, a blockchain indexing protocol, selected Gnosis Chain this week as their first new supported chain.
-DeNet added Gnosis
-Hopr created an RPC setup for Gnosis Chain featuring two Nethermind nodes
-FoxWallet integrated Gnosis Chain
Derivatives, Swaps and Prediction Markets
dYdX:
- V4 Milestones: The dYdX team has split the development of the blockchain into several milestones so that they can test early-and-often, allowing them to validate the assumptions, find bottlenecks, fix bugs, and gather product feedback. Each of the milestones contains a set of features to be built. Each milestone also specifies the release of a new network, or a significant evolution of an existing network. This serves to expand the scope and quality of integration testing that the team will be able to perform.
- Tornado Cash Update: dYdX has updated the compliance checks in partnership with their compliance partner to account for recent developments, and dYdX is currently blocking less than 0.1% of wallets connected to the exchange.
- Employee Referral Program: dYdX’s employee referral program is now live. Send the team your high quality referrals and if they hire them, you will receive $15,000.
UMA:
- Connect with UMA and earn prizes at ETHOnline hackathon
- This week on The Defiant Podcast hosts speak to Hart Lambur, co-founder of the UMA protocol.
- Day in the Life at UMA | Chandler De Kock, growth specialist
Fund Management
Enzyme Finance:
- The State of Enzyme’s Tokenomics: Enzyme has revamped its Tokenomics model to drive sustainable growth.
- Nexus Mutual has deposited 15,348 ETH ($25M) into Enzyme.
- Asset managers can now access Curve Finance via Enzyme’s Polygon deployment.
- Check out MFP: Enzyme Funding Proposals here.
Securities, Insurance
Nexus Mutual:
- Nexus Mutual Newsletter | 24 August 2022
- Deposit made into Enzyme Vault, to Maven 11’s Pool on Maple Finance
- Following the recent capital pool investment into the Maven 11 wETH pool, the team believes it’s a good time to review Nexus Mutual’s current capital pool holdings.
- Hugh Karp was presenting at the inaugural DeFi Security Summit on 27/28 August at Stanford.
- Community proposals of these weeks.
- Nexus Mutual Mutant Meetup Call | 23 August 2022
Liquidity Relays
1inch:
- 1inch integrates with Aurora: The integration offers users access to faster and cheaper transactions on a number of DEXes.
- How the 1inch API integration powers Zerion Wallet’s most efficient swaps: The 1inch API continues to improve Zerion users’ trading experience by offering the most attractive rates in the shortest time.
- The 1inch Wallet v1.5 for Android was released.
- 1INCH was listed on Kraken.
- Exploring the NFT space and its emerging opportunities
- DeFi Visions: Camila Ramos: In the new installment of DeFi Visions, a series of video interviews in which 1inch talks to the most prominent projects and personalities.
Balancer:
- The latest Balancer Report is here.
- An article going into how to increase veBAL benefits.
- Ithil will create a DeFi investment strategy based on Balancer and Aura.
- Valory is building Smart Managed Pools on Balancer.
- Boot Finance will build an Underwriting Market Maker custom pool.
- Balancer Leads the Yield Bearing Token Revolution
Bancor:
- Update Whitelist Requirements Proposal
- Analysis of Bancor and the ETH Merge
- UI Deposits Resumed
- DeFi Llama Integration Live
- Crown Capital Twitter Spaces
- Auto-Compounding Rewards are now live on Bancor
- Crown Capital on Bancor V3: A case study of why Bancor is the perfect place to bootstrap long tail tokens.
- Get involved in Bancor DAO at gov.bancor.network
Kyber:
- KyberSwap integrates Chainlink Price Feeds to facilitate its DeFi and DAO operations.
- Tornado Cash & Decentralization — CEO’s Reflections by Victor Tran.
- Important Community Update about KyberSwap Elastic Farms.
- Find out all Kyber proposals here. Check them out on GitHub.
Loopring:
- Lido Staked ETH on Loopring L2: Loopring Layer 2 ETH staking has arrived.
- Introducing DAO Voting: The first stage of Loopring DAO voting begins.
- As Loopring L2 continues to get a big influx of new users each week, please be sure to check out their knowledge base for all things Loopring L2.
Uniswap:
- Uniswap Foundation to be created after 86 million UNI voted in favor.
- Building Your First Uniswap Integration: Build your first on chain integration with the Uniswap Protocol.
- Twitter Space: Sourcing, Analyzing, and Using On-chain Data.
- The latest Uniswap proposals are here.
Payments Networks
Raiden Network:
- Raiden Pulse #21: Updates From Q2 2022: Another quarterly update covering all sorts of news and progress across strategy, product, and community.
Synthetix:
- The Synthetix community is considering putting an end to its inflationary economics in ten weeks’ time.
- Another weekly recap from SNX Weave, another weekly summary from Synthetix.
- Twitter Space: Spartan Space: New Polynomial Option Vaults built on Synthetix.
More updates
- Maker & Huntingdon Valley Bank first commercial loan.
- Fei Labs proposal to wind down Tribe DAO, disagreement over repayment of hack victims.
- Alexey Pertsev pre-trial detention extended by up to 90 days.
- Tether waiting on law enforcement instruction before freezing Tornado Cash addresses.
- Coinbase US voter registration portal to support crypto-forward policymakers.
- Coinbase cb.id subdomains are live.
- Ethereum has made an official blog post about the merge.
- Y Combinator alumni secured $80M in funding to make a DAO to back crypto startups.
- Ethereum Uncensored with Justin Drake
This is not financial advice.
Subscribe to ‘Defi in Ether’ newsletter ⬙
For more updates, join Paradigm o Medium, Twitter, Telegram, Telegram Chat, LinkedIn, and Reddit.
