Wakey, wakey, eggs, and bakey! Welcome to Bacon, Eggs, and DeFi #005. Here's what happened yesterday in the world of DeFi!
*I will be posting in the early afternoon on Saturdays, and I will post a weekend recap on Mondays (no newsletter on Sunday)*
DEXes:
0x raised $15 million in its' Series A from investors, including Pantera Capital, Blockchain.com Ventures, and Coinbase Ventures. 0x will use part of the investment to scale DEX aggregator Matcha.
BNT holders voted to pass Bancor Vortex Proposal (BIP9), allowing users to borrow against their BNT to provide leveraged liquidity. Bancor also recently reached a TVL of $400 million.
DODO announced a partnership with DeFi aggregator Frontier to integrate its exchange, crowdpooling, and staking features in Frontier's interface.
BitGo added support for SUSHI.
1inch Exchange postponed the launch of its liquidity mining program for ETH/1INCH, ETH/DAI, ETH/USDC, ETH/USDT, and ETH/WBTC. 1inch will proportionally distribute 1% of 1INCH's total supply to these five pools' liquidity providers over four weeks.
Lending:
Compound founder Robert Leshner explained the difference between TVLs on DeFi Pulse ($4 Billion) and Compound ($7 Billion). Leshner says that DeFi Pulse calculates TVL by subtracting the amount borrowed from the amount supplied.
DMM DAO will be shutting down due to regulatory inquiries.
Vesper Finance raised $2.5 million in a strategic partner round from investors, including Robert Leshner and Ryan Selkis. Vesper currently offers three pools (vETH, vUSDC, and vWBTC) with more than $20 million deposited across them. Vesper plans to add more pools in the future with varying levels of risk.
Asset Management:
Reef Finance announced its partnership with Akropolis. Reef users will be able to use Delphi, Akropolis' yield farming aggregator, and get exposure to AKRO through Reef's investment baskets.
Yearn reintroduced its yveCRV vault. Those interested can find a full explanation of the vault and its' rewards here.
Zapper added support for AUC, the governance token of options protocol Auctus.
DeFi Pulse Index's daily volume on Uniswap reached $10 million for the first time.
Derivatives:
Opium added a liquidity mining pool for USDT Protection up until March 5. Users can stake USDC to provide insurance against a 5% or greater drop in USDT. Opium will proportionally distribute up to 40,000 OPIUM to liquidity providers.
Futureswap, a decentralized futures protocol, is now listed on DeFi Pulse.
Primitive Finance added SUSHI and ETH options, including a $30 SUSHI Call, a $2.50 SUSHI Put, a $5000 ETH Call, and a $480 ETH Put. All of these options will expire on September 24, 2021.
Prediction Markets:
CoinGecko added CHIEFS, the token for the Kansas City Chiefs to win the Super Bowl. CHIEFS is a product of Catnip, a decentralized prediction market built on Augur and Balancer.
Insurance/Security:
Users of Unslashed Finance, a decentralized insurance protocol, have deposited 30,000 ETH into its first Structured Insurance Product, the Spartan Bucket. Unslashed Finance is currently in a private launch and giving out 50 invites per day.
Other:
The first token sale on Bounce Finance, a decentralized auction protocol, occurred. Users were able to participate in Bounce's certified sale of Option Room ROOM tokens. A total of 1,000,000 ROOM were available on Bounce for a fixed swap ratio of 1 ETH for 32,000 ROOM.
OKCoin users can now send/receive crypto to/from Unstoppable Domains' addresses.
BoringDAO, a decentralized asset bridge, is now using Chainlink for its price oracles.
Stay tuned for the next edition of Bacon, Eggs, and DeFi!
- Austin (@1A1zP1)