Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #060
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #060

Recap of Tuesday June 15, 2021

Austin
Jun 16, 2021
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Bacon, Eggs, and DeFi #060
baconeggsandefi.substack.com

Welcome to Bacon, Eggs, and DeFi #060. Here's a recap of yesterday's DeFi news!

dYdX Closes $65M Series C

DEXes:

  • Curve added renBTC/wBTC pools on both Polygon and Fantom. Additionally, wBTC in the pool will be lent out to Aave for extra yield.

  • PancakeSwap’s updated its analytics site to display current figures.

  • Lido Finance will extend LDO rewards in Curve’s ETH/sETH with an additional 3,750,000 LDO over the next month.

Lending:

  • Cream Finance will be launching on Arbitrum mainnet.

  • bXz launched on Polygon.

Derivatives:

  • dYdX raised $65 million in its Series C from investors, including Paradigm, HashKey, and Electric Capital. Multiple liquidity providers also participated in the round, including QCP Capital, CMS Holdings, and CMT Digital.

  • Opyn reached $400 million notional volume and surpassed 20,000 options trades.

Insurance/Security:

  • Aztec Network started a bug bounty program on Immunefi. The maximum bounty for discovering a critical vulnerability is $150,000.

  • InsurAce partnered with mStable, allowing users to insure their mAssets against smart contract exploits.

Other:

  • Bitwise raised $70 million in its Series B from investors, including Elad Gil, Avichal Garg (via Electric Capital), Henry Kravis, and Stanley Druckenmiller.

  • More than 500,000 ETH is now staked on the ETH2 Beacon Chain via Lido Finance.

  • Sygnum Bank launched custody and trading services for multiple DeFi tokens, including AAVE, ANT, CRV, MKR, SNX, UNI, and 1INCH.

  • Automata Network created a new tool called mev.tax, allowing users to see if they have previously been sandwich attacked.

  • iTrustCapital added support for SUSHI in its crypto IRA/401k retirement accounts.

Reading List:

  • THORChain: Infrastructure For a Multichain Future

  • Dynamic Interest Rate Model Based On Control Theory

  • Designing Internet-Native Economies: A Guide to Crypto Tokens

  • DAO Treasury/Balance Sheet Management

  • DeFi Infrastructure 101 — Overview & Market Landscape

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

- Austin (@1A1zP1)

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