Bacon, Eggs, and DeFi #008

Recap of February 9, 2021

Welcome to Bacon, Eggs, and DeFi #008. Here's what happened yesterday in the world of DeFi!

DEXes:

• Curve Finance added a pool for USDP, the governance token for Unit Protocol.

• Matcha reached $3 billion in total transaction volume.

• Someone made what is believed to be the largest cross-asset swap on Curve from 20,000,000 sUSD to 426.06 sBTC via Synthetix. The transaction cost 60,000 sUSD, which is paid to SNX minters.

• Pancake Swap crossed $1 billion TVL.

• Paraswap will distribute 1,000 MLN, the governance token for Enzyme Finance, amongst users who conduct transactions on the exchange in the next seven days.

Lending:

• Alpha Finance will continue its liquidity mining program to March 12 at 12 pm UTC for Alpha Homora v1 and v2. 3,000,000 ALPHA will be distributed amongst LPs.

• AAVE’s Balancer AAVE/ETH smart pool rewards are now live.

• ARCx announced their upcoming token sale that will occur in two phases from February 15 to March 2.

• Yield Credit’s Garden v2 for the ETH/YLD pool launched on Tuesday. Yield will distribute 5,000 YLD to liquidity providers over 45 days.

Asset Management:

• Yearn Finance’s yDAI vault is now fully restored following last week’s exploit. Yearn minted 9.7 million DAI through MakerDAO using YFI from the treasury.

• Rari Capital integrated Alpha Homora v2 for its ETH pool.

• Index Coop partnered with Transak to allow users to purchase DPI using fiat through indexcoop.com/dpi. To complete the purchase, users will have to fill out a KYC form and provide their ETH address.

• Pool Together launched its permissionless Prize Pool Builder. Users can customize a pool by deposit tokens, yield source, and prize distribution.

• Index Coop extended LP rewards for the DPI/ETH pool on Loopring an additional two weeks.

• Harvest Finance will hire two Binance Smart Chain (BSC) developers to integrate Harvest on BSC.

• BT.Finance will reward 10,000 BT to anyone who can assist with recovering tokens from last week’s exploit.

Derivatives:

• FinNexus announced a liquidity mining rewards program for the FNX/ETH pool on SushiSwap.

• Saffron Finance distributed SUSHI amongst LPs as part of their liquidity mining program on SushiSwap for the SFI/ETH pool.

Insurance/Security:

• Cover Protocol’s coverage claim for Yearn Finance’s exploit has been  validated and processed. The community collectively decided on a 36% partial payout where 1 CLAIM token can be redeemed for 0.36 DAI, and 1 NOCLAIM token can be redeemed for 0.64 DAI.

• OpenZeppelin audited Mooniswap’s v2 smart contracts. OpenZeppelin found no critical or high severity bugs.

• The governance page for Nexus Mutual can now be directly accessed through the app.

Prediction Markets:

• Catnip Exchange’s Super Bowl market is now resolved.

Other:

• Thorchain says it plans on implementing privacy coins shortly, including XHV, XMR, and ZEC.

• Users can now search for airdrops on Claimable using their ENS domains.

• Fei Protocol announced distribution plans for its governance token TRIBE. 20% of the tokens will be made available in an initial DEX offering (IDO) on Uniswap.

• Argent users can now set gas prices for transactions to either slow, normal, or fast.

• Bounce Finance will list DeFi Wizard for its next certified auction.

• The Spartan Group announced its $50 million DeFi Venture Fund. The Spartan Group has previously invested in DeFi protocols/tokens, including MKR, LINK, SNX, YFI, and AAVE.

Stay tuned for the next edition of Bacon, Eggs, and DeFi!

- Austin (@1A1zP1)