Bacon, Eggs, and DeFi #003
Recap of February 3, 2021
Good Morning! Welcome to Bacon, Eggs, and DeFi #003. In the next few newsletters, I will be experimenting with ways to divide the news up. Here’s what happened yesterday in the world of DeFi!
SushiSwap added an ibETHv2/ALPHA pool. Liquidity providers will receive SUSHI in return for depositing into the pool.
DODO, a decentralized exchange utilizing the Proactive Market Maker (PMM) algorithm, announced Private Pool (DPP), an advanced feature for market makers. DPP will be released with the launch of DODO v2.
Cream Finance will become the first lending protocol to list bBADGER as collateral after a recent governance vote passed.
Instadapp and Gelato Network partnered to release Instadapp Actions, a new feature allowing users to automatically refinance debt across multiple DeFi lending protocols, including Aave, Compound, and MakerDAO, to prevent liquidations.
Kraken released Crypto Yields 2: Deep Dive on DeFi, a report highlighting some of the risks associated with decentralized finance lending protocols.
ZapperFi now supports Alpha Homora’s interest-bearing tokens, including ibETHv2, ibDAIv2, ibUSDTv2, and ibUSDCv2. ZapperFi also added more than 300 yield farming pools from DeFi protocols, including 1inch Exchange, Stake DAO, and Indexed Finance.
BadgerDAO completed its 12th DIGG rebase.
Akropolis will distribute 200,000 AKRO per week (on a three-month vesting schedule) to those providing AKRO/wETH liquidity on SushiSwap.
PoolTogether reached a TVL of $5 million.
Index Coop’s TVL reached $100 million.
Decentralized options protocol Opyn raised $6.7 million in its Series A from investors, including Paradigm and Dragonfly Capital. Opyn previously raised $2.16 million for its seed round in June 2020, and users have traded more than $125 million in options since then.
Opium announced its governance forum where OPIUM token holders can vote on Opium Improvement Proposals (OIPs). The first proposal seeks to distribute 50,000 OPIUM amongst 1inch liquidity mining participants at the end of the month.
Mask Network held its second Initial Twitter Offering (ITO) in conjunction with Mirror Protocol, OKEx, and Transak. Users could purchase mTSLA with wBTC, UST, or OKB through Mask’s Twitter plugin.
OpenZepplin completed another smart contract audit for UMA. The security audit firm reviewed updates, including a financial contract template and the optimistic oracle, and found no critical vulnerabilities.
Lido users have staked more than 120,000 ETH on the Ethereum beacon chain. Users can stake any amount of ETH to receive stETH tokens in return. Without liquid staking solutions like Lido, stakers would have their ETH locked up until Ethereum 2.0 launches and would have to stake a minimum of 32 ETH.
Open DeFi, an organization created to promote the widespread adoption of DeFi, added BarnBridge as a member. BarnBridge joins DeFi protocols, including Aave, Synthetix, and Balancer.
Nansen.ai added support for bDIGG, the vault share token for DIGG deposits on BadgerDAO.
Stay tuned for the next edition of Bacon, Eggs, and DeFi!
- Austin (@1A1zP1)