Bacon, Eggs, and DeFi #057

Recap of Wednesday June 9, 2021

Welcome to Bacon, Eggs, and DeFi #057. Here's a recap of yesterday's DeFi news!

DEXes:

• Curve Finance released v2, allowing users to swap between non-stable assets. Users can swap between USDT, wBTC, and ETH on Ethereum and DAI, USDC, USDT, wBTC, and WETH on Polygon at launch.

• 1inch Network and Paraswap integrated Curve v2 as a liquidity source.

Lending:

• Alpha Homora announced liquidity rewards for v1 and v2 on Ethereum and v1 on BSC. Over the next two weeks, 6 million ALPHA will be distributed to Ethereum LPs, and 320,000 ALPHA will be distributed to BSC LPs.

• bZx’s Fulcrum and Torque launched on Polygon.

• 88mph unveiled its revamped UI.

Asset Management:

• BadgerDAO’s Bitcoin Bridge reached $200 million in volume since its launch.

Derivatives:

• Ribbon Finance doubled its ETH Theta Vault capacity to 10,000 ETH.

• Hedget released BNB options, allowing users to buy low, medium, or high-risk puts and calls that expire on June 11.

• Divergence Protocol raised $2.9 million in its seed round from investors, including Mechanism Capital, KR1, and Focus Labs.

• Ruler Protocol launched Options View, allowing users to view PUT options prices.

• As part of its El Salvador release, Kwenta added candlesticks and classical pair charts to its UI.

Insurance/Security:

• MCDEX started a bug bounty program on Immunefi. The maximum bounty for discovering a critical vulnerability is $100,000.

Other:

• Solana Labs raised $314.15 million in a private token sale from investors, including a16z, Polychain Capital, and Alameda Research.

• DeFi Pulse added Alchemix’s alUSD to its Crypodollars page.

• Tornado Cash will launch on Binance Smart Chain.

• AnySwap v3 launched liquidity rewards for USDC stakers on Polygon. 1,000 ANY per day will be distributed to LPs.

• Ledger raised $380 million in its Series C from investors, including 10T Fund, Tekne Capital, and Uphold Ventures.

• OlympusDAO and Frax Finance will be partnering to launch a dual-incentivized OHM/FRAX pool on Uniswap.

• DeFi Pulse added Crypto Volatility Index (CVI) to its dashboard.

Reading List:

• Exploring constant function market maker designs

• MEV in eth2 - an early exploration

• Alchemix In Depth

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

- Austin (@1A1zP1)