Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #050
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #050

Recap of Tuesday May 25, 2021

Austin
May 26, 2021
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Bacon, Eggs, and DeFi #050
baconeggsandefi.substack.com

Welcome to Bacon, Eggs, and DeFi #050. Here's a recap of yesterday's DeFi news!

Image

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)

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