Bacon, Eggs, and DeFi #011

Recap of February 12, 13, 14, and 15, 2021

Welcome to Bacon, Eggs, and DeFi #011. Here's what happened over the long weekend in the world of DeFi!

DEXes:

• Saddle Finance released its roadmap. Saddle will add Optimism L2 support, permissionless pool creation, LP token pools, and stablecoin and tokenized ETH pools.

• Uniswap reached $100 billion in total transaction volume.

• DODO is hosting an Initial DEX Offering (IDO) for crypto infrastructure protocol ShuttleOne.

• 0x will be creating a community-owned treasury to begin decentralization of the protocol.

Lending:

• Alpha Homora was exploited for $37.5 million through Cream Finance’s Iron Bank. The Block Research Analyst Igor Igamberdiev explains the exploit details in this thread. Additionally, Alpha Finance published a roadmap for its plan moving forward following the exploit.

• Structured products protocol Ribbon Finance deployed to the Ethereum mainnet.

• Warp Finance added sUSD as a borrowing and lending asset.

• Aave added an xSUSHI borrowing and lending market.

• Goldfinch shared its first community update, detailing v1.1 changes, the hiring process for roles including Head of Credit and Community Lead, design of v2, and new lending deals.

• Hifi Finance will discuss taking $1 million USDC, depositing it into Compound, and using the proceeds to buy Unisocks.

Asset Management:

• Yearn Finance is starting an affiliate program with other protocols. Mushrooms Finance is among the protocols that have begun building products using Yearn’s infrastructure.

• BadgerDAO’s bBADGER and bDIGG will be added to Bancor’s single-sided AMM pools with impermanent loss protection. Those interested can find more information on the pools here.

• Instadapp launched DeFi Simulation, which allows users to experiment with various DeFi protocols before spending real money.

• BadgerDAO is launching on StarkNet.

Derivatives:

• Synthetix raised $12 million from investors, including Coinbase Ventures, Paradigm, and IOSG, via a token purchase from Synthetix’s treasury.

Insurance/Security:

• Cover protocol added coverage for Rari Capital.

• Warp Finance launched a bug bounty program on Immunefi. The maximum bounty is $400 for discovering a critical vulnerability.

• $27,332,400 of coverage for Gnosis Safe was purchased on Nexus Mutual.

Prediction Markets:

• Omen added a new scalar market for DeFi dominance percentage on CoinGecko at the end of March 2021.

Other:

• mStable launched its second mAsset, mBTC.

• Lido Finance will distribute 500,000 LDO to stETH/ETH liquidity providers on Curve until the March 12th.

• DeFi Pulse added PowerPool to its dashboard.

• RenBridge 2 is now live with renBTC, renBCH, renZEC, and renDOGE on Ethereum and Binance Smart Chain. Ren will be adding renLUNA and renDGB in the next few months.

• DeFiprime recapped standout DeFi and NFT projects from the recent Ethereum Denver hackathon.

• ZapperFi added support for xToken’s xSNXa, xAAVEa, and xAAVEb with support for xKNCa, xKNCb, xINCHa, and xINCHb coming in the future.

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

- Austin (@1A1zP1)