Welcome to Bacon, Eggs, and DeFi #018. Here's what happened yesterday in the world of DeFi!
DEXes:
DFX Finance, a decentralized exchange for fiat-backed stablecoins, raised $5 million from investors, including Polychain Capital and True Ventures. DFX also launched a liquidity mining program for its CADC/USDC, EURS/USDC, and XSGD/USDC pools.
A New York judge dismissed a lawsuit against Bancor for selling $216 million of unregistered securities.
Sushiswap announced Onsen v2 with multiple new pairs and changes in allocation point distribution.
Lending:
OnX Finance announced its lending product, allowing users to lend ETH at a current rate of 312% APY and borrow ETH using aETH as collateral.
Liquity Protocol started a new smart contract bug bounty program with rewards up to $50,000 for finding a critical vulnerability.
Saffron Finance’s v2 beta version is now live on Binance Smart Chain.
Ruler Protocol shared its audit completed by CertiK.
Unit Protocols team tokens migrated to five-year vesting contracts.
Asset Management:
Enzyme Finance released details of its next release, Sulu, which includes an Aave and Balancer integration, Curve pool integrations, and more!
Yearn Finance will extend Multi-sig powers for three months until the end of May after YIP-59 passed.
PoolTogether reached $100 million in deposits and is approaching $200,000 in weekly prizes.
Derivatives:
dYdX launched cross-margin Perpetuals on Layer 2 via Starkware.
Antimatter is launching a Perpetual Put ETH Option for its first product.
Hegic Options passed $250 million in total volume.
A UMA developer proposed adding AAVE, LINK, SNX, UMA, UNI, and UNI-V2 LP tokens WBTC/ETH, USDC/ETH, UNI/ETH, and UMA/ETH as collateral.
Other:
Chainlink announced an Off-Chain Reporting (OCR) upgrade, which would increase data transfers to smart contracts by 10x.
DeFi Pulse added 88mph to its dashboard.
Optimism raised $25 million in its Series A from investors, including A16z.
Upcoming Projects:
RabbitHole - Platform for bootstrapping community.
Reading List:
DeFi Protocols’ Revenues by Igor Igamberdiev
Sushiswap, analysis of transactions inside the DAI-WETH pair and the impact of the transaction costs by Naïm Boubziz
Understanding Saffron Finance by Andre Cronje
Stay tuned for the next edition of Bacon, Eggs, and DeFi!
- Austin (@1A1zP1)