Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #041
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #041

Recap of March 25 and 26, 2021

Austin
Mar 27, 2021
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Bacon, Eggs, and DeFi #041
baconeggsandefi.substack.com

Welcome to Bacon, Eggs, and DeFi #041. Here's what happened over the past two days in the world of DeFi!

DEXes:

  • Matcha reached $5 billion in total transaction volume.

  • Sushiswap announced the launch of BentoBox and its first dApp Kashi.

  • 1inch Exchange started a 24-week long liquidity mining rewards program for the 1INCH/VSP pool. 1inch and Vesper Finance will distribute 150,000 1INCH and 100,000 VSP to LPs.

  • 0x added three liquidity sources for Binance Smart Chain to its API, including Nerve Finance, Belt Finance, and Ellipsis.

  • 1inch Exchange will extend its Binance Smart Chain 1INCH/BNB liquidity rewards program for another four weeks.

Lending:

  • Cream Finance added SUSHI (Binance Smart Chain) as collateral.

  • Unilend Finance shared its flash loan audits completed by CertiK.

  • Ruler Protocol added PICKLE as collateral.

  • Cream Finance will increase the collateral factor of FRAX from 0% to 60%.

Asset Management:

  • Indexed Finance announced its NFTP Index, which will initially be composed of ENJ, MANA, SAND, SUPER, AUDIO, AXS, ERN, GALA, RARI, and NFTX.

  • Index Coop’s Flexible Leverage Index (FLI) reached its initial 50,000 supply cap.

  • BadgerDAO/DeFiDollar announced their interest-bearing bitcoin ibBTC.

  • Hord raised $1 million in its seed round from investors, including DAO Maker, LD Capital, and BlueBridge Financial.

  • Index Coop will launch the Metaverse Index (MVI) after a recent governance vote passed. MVI will be composed of ENJ, MANA, SAND, RFOX, AXS, WHALE, RARI, MEME, REVV, AUDIO, MUSE, DG, TVK, NFTX, and WAXE.

Derivatives:

  • Charm Finance raised its seed round from investors, including Divergence Ventures, DeFiance Capital, and Delphi Digital.

  • Opyn added two UNI options, including a $22 put and a $32 call, which both expire on April 23.

Insurance/Security:

  • Multiple protocols started bug bounty programs on Immunefi, including Idle Finance, DSLA Protocol, and Sushiswap. The maximum bounty for discovering a critical vulnerability on each protocol is $500,000, $100,000, and $1,000,000.

  • Nexus Mutual added coverage options for BadgerDAO.

Other:

  • Optimism will be delaying its mainnet launch.

  • DeversiFi announced its governance token DVF.

  • Dragonfly Capital will be launching Fund II, a $225 million venture fund focused on DeFi, NFTs/creator monetization, Layer 2, and centralized financial infrastructure.

  • Chainge Finance, OIN Finance, Akash Network, Arweave, Bonfida, Wanchain, Popsicle Finance, Minty.Art, BakerySwap, and FarmFolio were added to DeFi Database.

  • Coinbase listed ANKR, CRV, and STORJ.

  • Etherscan added an airdrops page, allowing users to view protocols having airdropped tokens to users/LPs.

Upcoming Projects

  • Shutter Network

Reading List:

  • Replicating Market Makers

  • Dissecting the Indexed Finance protocol

  • An Introduction to Decentralized Identity Solutions

  • Cover Protocol: a peer-to-peer coverage market

  • The Art of Central Banking on Blockchains: Non Pegged Stablecoins

  • Balancer V2 — A One-Stop-Shop

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

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