Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #043
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #043

Recap of March 30, 2021

Austin
Mar 31, 2021
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Bacon, Eggs, and DeFi #043
baconeggsandefi.substack.com

Welcome to Bacon, Eggs, and DeFi #043. Here's a recap of yesterday’s DeFi news!

Greenwood V2 reduces the interest that crypto borrowers pay on their loans by automatically borrowing from the lending protocol with the lowest instantaneous APR.

DEXes:

  • 1inch Exchange started a liquidity mining rewards program with Opium Network. Over the next 24 weeks, 150,000 1INCH and 150,000 OPIUM will be distributed to LPs in the 1INCH/OPIUM pool.

  • Loopring liquidity providers now earn 0.20% of trades.

  • ParaSwap reached 100,000 total swaps.

  • ComethSwap reached $20 million TVL.

  • DODO added VRA, PICKLE, bMXX, and ALCX to its default trading list.

  • 1inch Exchange integrated Nerve Finance as a liquidity source for Binance Smart Chain swaps.

  • Bancor users can now stake ARMOR in single-sided liquidity pools.

Lending:

  • Compound Governor Bravo is now live, with new features, including upgradable implementation, settable parameters, and the option to abstain in a vote.

  • UniLend Finance launched to the Ethereum mainnet. Users can stake their UFT to provide liquidity for flash loans and earn 1% of the rewards pool.

  • Greenwood v2 is now live, allowing users to borrow from lending protocols with the lowest interest rate. Currently, Greenwood supports Aave and Compound.

Asset Management:

  • There is a new proposal on Index Coop to create a Synthetix Debt Pool Mirror Index.

  • Saffron Finance will be partnering with BonFi.

Derivatives:

  • DEUS Finance reached $125 million TVL.

  • Injective Protocol users can now stake on Equinox through their Ledger wallet. Injective also rewarded early stakers through an APY boost.

  • dYdX increased deposit maximums on its Layer 2 Perpetuals alpha to $10,000.

  • Klondike Finance completed its token migration process from KLON to KLONX.

  • Kwenta hinted at Layer 2 and leverage coming in the future.

Insurance/Security:

  • OpenZeppelin shared its completed smart contract audits for Fei Protocol. OpenZeppelin found five critical vulnerabilities and three high vulnerabilities.

  • Fei Protocol started a bug bounty program on Immunefi. The maximum bounty for discovering a critical vulnerability is $1,000,000.

Other:

  • Dynamic Set Dollar will be migrating liquidity from Uniswap to Sushiswap.

  • Upshot, Playcent, YFUNI Finance, CyberTime Finance, and Oxygen Protocol were added to DeFi Database.

  • OKCoin listed MKR and SNX.

Reading List:

  • A Tale of Three DeFi Indices

  • Inside Arbitrum

  • Sushi First Course — 2021 Q1 Update

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

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