Bacon, Eggs, and DeFi #047

Recap of April 3 and 4, 2021

Welcome to Bacon, Eggs, and DeFi #047. Here's a recap of this weekend’s DeFi news!

DEXes:

• Starkware announced Caspian, a new Layer-2 AMM design allowing users to trade on L2 while liquidity remains on L1.

• The Bancor Vortex Burner is now live. 5% of swap fees will now be used to buy and burn vBNT to increase locked liquidity, reduce the circulating supply of VBT, and increase lending capacity.

• Sushiswap will remove the six-month vesting for LP rewards (pending the treasury multisig transaction confirmation).

Lending:

• Ruler Protocol will airdrop RULER to a small number of active members in its Discord and Telegram channels.

• Unit Protocol will be switching oracles from Keep3r to Chainlink.

• Ruler Protocol added Indexed Finance’s DEFI5 as collateral.

Asset Management:

• Yearn Finance reached $2 billion TVL across all its products.

• Rari Capital will add a cross-chain asset Fuse pool with RenVM supported assets after a recent governance proposal (RIP-20) passed.

• DeFi Pulse Index reached $150 million TVL.

Insurance/Security:

• Force Protocol’s xFORCE suffered a smart contract exploit, resulting in a loss of ~$367,000 FORCE.

• Fei Protocol increased its critical and high bug bounty amounts on ImmuneFi to $1.1 million and $40,000.

Other:

• Christine Parlour and Dawn Song will be teaching a DeFi course at UC Berkeley.

• Users committed 638,000 ETH and minted $1.3 billion of FEI during its Genesis event.

• More than $25 million is now stored in Gnosis Safe.

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