Bacon, Eggs, and DeFi #035
Recap of March 17, 2021
Welcome to Bacon, Eggs, and DeFi #035. Here's what happened yesterday in the world of DeFi!
DEXes:
0x Protocol v4 launched to Binance Smart Chain. In the future, 0x will be expanding to other chains, including Polkadot, Solana, and Avalanche.
1inch Exchange started a new liquidity mining rewards program for its 1INCH/USDC, 1INCH/ETH, and 1INCH/WBTC pools. 1inch will distribute 0.05% of the total 1INCH supply to liquidity providers over the next 28 days.
Matcha users can now trade on Binance Smart Chain.
Snowswap partnered with Everest, allowing users to yield farm on SnowSwap through fiat.
Dexguru added support for Binance Smart Chain with support for L2 Ethereum coming soon.
Lending:
Alchemix Finance raised $3.1 million from investors, including The Spartan Group, Delphi Ventures, and Nascent.
Cream Finance will add BETH, IOTX, and SXP (Binance Smart Chain) as collateral.
Compound will migrate legacy cToken contracts to the latest cToken standard after CIP 041 passed. WBTC will be the first token to be migrated.
Ruler Protocol added vETH2 as collateral.
bZx will be expanding margin trading, borrowing, and lending to Binance Smart Chain.
Asset Management:
A PowerPool Management Board Member proposed an NFT Index, which would be composed of ENJ, MANA, SAND, RARI, NFTX, OGN, SUPER, and LYXE.
Yearn Finance users can now enter Yearn vaults in one click through Zapper.
Pancake Bunny Finance reached $500 million TVL.
Syndicate raised $1 million in its seed round from investors, including IDEO CoLab Ventures, Electric Capital, and Delphi Ventures.
Index Coop officially launched the Flexible Leverage Index (FLI), allowing investors to gain exposure to leveraged ETH.
Derivatives:
Injective Protocol launched Equinox pre-staking. Users can deposit INJ into Injective to earn a minimum of 15% APY.
Volmex Labs raised a financing round from investors, including Three Arrows Capital, Alameda Research, and Robot Ventures.
dYdX increased deposit maximums on its Layer 2 Perpetuals from $100 to $1,000.
Insurance/Security:
InsurAce Protocol completed its token launch through a Balancer Liquidity Bootstrapping Pool (LBP).
30% of Cover Protocol fees will be distributed to token holders via xCOVER after a recent governance vote passed.
BT Finance started a bug bounty program on Immunefi. The maximum bounty for discovering a critical vulnerability is $50,000.
Other:
Grayscale launched investment trusts for BAT, LINK, MANA, FIL, and LPT.
MetaMask Mobile users can now swap tokens in their mobile wallets.
Gyroscope Protocol, Revert Finance, Venus Protocol, Kava Labs, and Raydium Protocol were added to DeFi Database.
Zapper now supports portfolio tracking for multiple chains, including Polygon, Binance Smart Chain, and Optimism. Additionally, Zapper now supports cross-chain swaps with Polygon, with more chains coming in the future.
Chart of the Day:
Starting today, I will be including a chart/statistic I find interesting at the end of every newsletter. In the future, I will analyze the chart, but for now, I will leave it open to interpretation. Today’s chart shows DEX volume over the past two weeks broken down between DEXes and aggregators.
Source: https://explore.duneanalytics.com/dashboard/dex-metrics
Stay tuned for the next edition of Bacon, Eggs, and DeFi!