Bacon, Eggs, and DeFi #040

Recap of March 24, 2021

Welcome to Bacon, Eggs, and DeFi #040. Here's what happened yesterday in the world of DeFi!

DEXes:

• Snowswap launched its fSnow pool, allowing users to swap between or add liquidity to Harvest Finance’s fAssets.

• ZeroSwap will integrate Huobi ECO Chain (HECO), allowing protocols to access a larger audience for IDOs.

• Kyber Network will upgrade KNC’s smart contracts to make the token more adaptable after a KIP-6 passed.

Lending:

• UniLend Finance shared distribution plans for its flash loans, allocating 70% to token stakers and 30% for purchasing UFT with the intent to burn it.

• Cream Finance added RAI as collateral.

Asset Management:

• Popsicle Finance, a cross-chain yield platform for AMMs, will airdrop 0.5% of its governance token ICE to addresses that previously voted on BadgerDAO proposals through Snapshot.

• Yield tokenization protocol APWine raised $1 million in its seed round from investors, including Delphi Digital, The Spartan Group, and DeFi Alliance.

• PieDAO announced Oven v2 with new features, including adding additional input assets and allowing other protocols to build custom ovens.

• NFTX launched seven new liquidity pools on Sushiswap.

• BadgerDAO shared a preview of its upcoming Ren BTC bridge.

Derivatives:

• Klondike Finance is migrating its governance token from v1 to v2 (KLON -> KLONX).

• Synthetix launched sKRW, a synthetic version of South Korea’s won.

Insurance/Security:

• Cover Protocol will delay its v2 launch to the end of April after Quantstamp requested extra time to review its smart contracts.

Other:

• StarkWare raised $75 million in its Series B from investors, including Paradigm, Three Arrows Capital, and Alameda Research.

• Hermez Network, a zk-rollup for Ethereum, launched to mainnet.

• Blockchain data provider Covalent raised $2 million from investors, including Hashed Ventures, Coinbase Ventures, and Binance Labs.

• NFTBoxes, Royale Finance, EDDASwap, Xend Finance, and Orca were added to DeFi Database.

• XDEFI Wallet raised $1.2 million in its seed round from investors, including Mechanism Capital, Alameda Research, and Delphi Digital.

Reading List:

• ALPHA Tokenomics: Fee Accrual in The Alpha Ecosystem

• DODO NFT: A Zero-Cost Liquidity Solution for Non-Standard Assets

Chart of the Day:

Over the past month, the highest performing DeFi index was PowerIndex’s Yearn Ecosystem Token Index (YETI), with a 16.3% return. YETI is composed of YFI, SUSHI, CREAM, PICKLE, AKRO, KP3R, and CVP.

Source: https://duneanalytics.com/queries/21235/43721

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