Bacon, Eggs, and DeFi #060

Recap of Tuesday June 15, 2021

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

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)