Bacon, Eggs, and DeFi #041

Recap of March 25 and 26, 2021

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!