Bacon, Eggs, and DeFi #010
Recap of February 11, 2021
Welcome to Bacon, Eggs, and DeFi #010. Here's what happened yesterday in the world of DeFi!
MakerDAO shared a blog post on its top five DeFi trends to watch in 2021, including topics on scaling solutions, AMM DEXes, stablecoins, NFTs, and cross-chain collateral.
More than $46 million in ETH has been deposited into Instadapp Actions.
Compound crossed $8 billion TVL.
Decentralized lending protocol Mainframe changed its name to Hifi.
BadgerDAO will be implementing multiple new changes to the protocol, including rewards in bBADGER and bDIGG, removing the need for staking, and adding a boost multiplier.
dHEDGE reached $30 million TVL.
Zerion added a favorite feature, allowing users to mark their favorite assets and see them all in one place.
Zapper users can now add or withdraw ankrETH from the Curve liquidity pool.
ARCx crossed $17.5 million TVL. There are five interest bearing assets supported, including xSUSHI, ibETH, cUSDC, yUSD, and mUSD.
Bitcoin Volatility (BTCV) Index v1 is now live on Volmex Finance.
Charm Finance passed $1 million in total trade volume.
Injective Protocol partnered with Marlin Protocol to enable high frequency trading.
Nexus Mutual distributed 14,125 BNT and 98,000 OGN to NXM stakers this week who participated in shield mining.
Quantstamp audited BarnBridge’s staking and governance smart contracts.
ArmorFi reached $500 million in total active coverage and has paid out over $490,000 in premiums.
Cover Protocol can now be accessed through MyEtherWallet.
The first epoch of USDT protection staking for Opium Finance concluded. Opium also proposed to increase staking rewards for assets that remain deposited over time.
Reflexer Labs raised its Series A from investors, including Pantera Capital, Lemniscap, and The Lao Official. Reflexer will use the funds to finalize RAI’s development and explore additional assets.
LDO token holders voted for Lido Finance to distribute 0.5% of LDO’s supply to stETH liquidity providers on Curve. The liquidity rewards will last for 30 days.
Coinbase Custody now supports SUSHI and UTK.
Fractional-algorithmic stablecoin FRAX announced it deposits collateral into DeFi protocols, including Compound and Yearn Finance.
Circle CEO Jeremy Allaire says there are more than seven billion USDC in circulation.
DeFi Pulse added Vesper Finance to its dashboard.
Keep Project will distribute 100,000 KEEP per month to those who stake in the new KEEP pool.
Stay tuned for the next edition of Bacon, Eggs, and DeFi!
- Austin (@1A1zP1)