Bacon, Eggs, and DeFi #053

Recap of Thursday June 3, 2021

Welcome to Bacon, Eggs, and DeFi #053. Here's a recap of yesterday's DeFi news!

DEXes:

• Integral increased trading fees for its stablecoin pairs (USDC/USDT, DAI/USDC, and DAI/USDT) from 2bps to 15bps.

• Matcha released v2 with new features, including a fiat on-ramp with MoonPay, support for Polygon, and Matcha OTC.

• Integral will be moving its token generation event to June 11.

Lending:

• Rari Capital users can now borrow USDC using PcUSDC from PoolTogether as collateral.

Asset Management:

• BadgerDAO is partnering with Polygon to increase BTC adoption on the network, starting with launching an ibBTC/WBTC Sushiswap pool on June 7.

Derivatives:

• dYdX launched a UMA/USD Perpetuals Market with up to 10x leverage.

• Ribbon Finance’s first governance proposal (RGP-1) passed, changing the feeRecipient address to the vault address. More than 360 addresses participated in the governance vote.

• MCDEX v3 launched to Arbitrum developer mainnet.

• dYdX shared a dashboard of some of its Layer 2 metrics.

Insurance/Security:

• Sherlock raised $1.5 million in a pre-seed round from investors, including IDEO CoLab Ventures, A.Capital Ventures, and Scalar Capital.

Other:

• Maven 11 Capital announced it raised €40 million for its second fund, which will focus on DeFi and Web3. The total target size of the fund will be €50 to €75 million.

• RenVM integrated Avalanche as its third chain. The initial assets supported will be BTC, ZEC, BCH, and DOGE.

• Impossible Finance raised $7 million from over 125 investors, including True Ventures, CMS Holdings, and Alameda Research.

• Okcoin integrated Polygon, allowing users to withdraw select assets to Polygon.

Reading List:

• BlockThreat - Week 21, 2021

• PancakeSwap: Not Just Another Uniswap Fork

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

- Austin (@1A1zP1)