Bacon, Eggs, and DeFi #050
Recap of Tuesday May 25, 2021
Welcome to Bacon, Eggs, and DeFi #050. Here's a recap of yesterday's DeFi news!
DEXes:
Paraswap reached $3 billion in transaction volume on Ethereum.
QuickSwap reached $1 billion TVL.
As part of Sushiswap’s and Frax Finance’s partnership, the FRAX/FCS and FRAX/USDC pairs will be incentivized (most likely with MATIC and SUSHI) on Sushiswap on Polygon.
0x API became the leading DEX aggregator by volume on Ethereum.
Gauntlet made its first set of fee changes to Balancer v2 liquidity pools.
Lending:
Ruler Protocol launched liquidity mining rewards on Binance Smart Chain. LPs will earn RULER and tokens from select partners.
Maple Finance’s first liquidity pool deployed $17 million of loans to institutions.
Derivatives:
Ribbon Finance announced its governance token RBN. Ribbon will airdrop 3% of the initial supply to preexisting users of both Ribbon and other DeFi options protocols.
dYdX will be adding 1-2 new perpetual markets every week over the next few months.
Insurance/Security:
Lossless raised $2.245 million in a private sale round from investors, including DAO Maker, Master Ventures, and X21. Lossless aims to mitigate hacks for token creators via fraud identification.
Dora Factory and DODO started bug bounty programs on Immunefi. The maximum bounty for discovering a critical vulnerability on each protocol is $1,000 and $200,000.
Other:
1confirmation raised $125 million for Fund III.
DeFiLlama now displays the token breakdown for the TVL of select protocols.
Lido Finance will add support for SOL staking via stSOL in the future.
Cryptofees.info added support for Uniswap v3.
Mark Cuban invested in Polygon.
Reading List:
Ex-High School Classmates Are Among the World’s Largest Crypto Holders
Blockchain voting is overrated among uninformed people but underrated among informed people
Stay tuned for the next edition of Bacon, Eggs, and DeFi!
- Austin (@1A1zP1)