Bacon, Eggs, and DeFi #009

Recap of February 10, 2021

Welcome to Bacon, Eggs, and DeFi #009. Here's what happened yesterday in the world of DeFi!

DEXes:

• Three Arrows Capital and DeFiance Capital purchased $5 million of BAL tokens as part of Balancer’s rolling Series A.

• DODO added UNCX (UniCrypt), CAP (CapDot Finance), LIT (Litentry), and SKL (Skale) to its default trading list.

• SushiSwap added a TORN/ETH pool to its Onsen liquidity mining rewards program. LPs can earn 0.696 SUSHI per day for every $1,000 deposited.

• A Dune Analytics dashboard for MetaMask’s swaps is now available.

• DODO released details of DODO v2 tokenomics.

Lending:

• Cream Finance added bBADGER to its lending and borrowing pools. There is also a proposal to increase bBADGER’s collateral factor from 0% to 60% so that users can borrow assets from their bBADGER deposits.

• AAVE token holders are currently voting on AIP-10, which would add xSUSHI to Aave if passed.

• There are multiple new features in Alpha Homora v2, including the ability to re-leverage leveraged positions, view each pool’s TVL, and view asset prices.

Asset Management:

• PieDAO announced liquidity mining incentives for the DOUGH/ETH, DOUGH, and BCP/ETH pools on Loopring.

• BadgerDAO announced a partnership with Yearn Finance.

• dHEDGE announced dHEDGE Fast Oracle eXchange (FOX), an intermediate solution to gas fees before moving to Optimistic Rollups.

Derivatives:

• Mirror Protocol users can now purchase mBTC, mETH, mABNB (Airbnb), mFB (Facebook), and mGS (Goldman Sachs). Additionally, the TVL of mAssets and UST crossed $200 million.

• Limit orders are now available on Opyn. Users can set a price and a time deadline (in seconds, minutes, hours, or days) to purchase or sell options.

• Synthetix founder Kain Warwick tweeted that Synthetix is now profitable on protocol fees alone. At the moment, sDAO claims around $750,000 in fees per month.

Insurance/Security:

• An unknown user purchased $10,434,900 of coverage for Bancor on Nexus Mutual. There has been an uptick in large coverage purchases on Nexus Mutual, including $18,784,800 of coverage for MakerDAO multi collateral DAI.

• There is an ongoing bug bounty program on Immunefi for Opyn. The maximum bounty is currently set at $100,000 for finding a critical vulnerability.

Prediction Markets:

• Omen added a new scalar market for the price of Unisocks at the end of March 2021.

• Polymarket added a new market for whether The Hashmasks’ seven-day volume on February 25, 2021, will be the largest by NFT project.

Upcoming Project to Watch:

• Maple Finance

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

- Austin (@1A1zP1)