Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #009
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #009

Recap of February 10, 2021

Austin
Feb 11, 2021
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Bacon, Eggs, and DeFi #009
baconeggsandefi.substack.com

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

New features on Alpha Homora V2

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)

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