Bacon, Eggs, and DeFi #061

Recap of Wednesday June 16, 2021

Welcome to Bacon, Eggs, and DeFi #061. Here's a recap of yesterday's DeFi news!

DEXes:

• DODO will be launching on Solana.

• Kyber Dynamic Market Maker (DMM) will be launching on Polygon on June 30. Kyber and Polygon will incentivize six pools with 2.52 million KNC and $500,000 worth of MATIC over two months.

• Matcha added WaultSwap and PolyDex as liquidity sources on Polygon.

• QuickSwap started liquidity mining rewards for pBNB, MEM, IOI, RAMP, rUSD, ERN, and BORING.

• CRV rewards are now live for the tricrypto pool on Ethereum.

• Polygon will match CRV rewards with MATIC (up to $6 million) for the next 16 weeks.

Lending:

• Goldfinch raised $11 million from investors, including a16z crypto, Mercy Corps Ventures, and a_capital.

Asset Management:

• Yearn Finance launched a new ETH yVault with four strategies, including depositing/lending to the Curve StETH pool, Curve sETH pool, Aave, and Alpha Homora.

• PoolTogether launched a new GUSD prize pool with a $250,000 GUSD sponsorship contributing to the pool’s interest.

• Enzyme Finance reached $100 million in AUM after Unslashed Finance deployed 4000 ETH from the Spartan Bucket to a new Enzyme vault.

Derivatives:

• Volmex v1 launched on Ethereum with two initial tokens - the Ethereum Volatility Index (ETHV) and the Bitcoin Volatility Index (BTCV).

• SynFutures raised $14 million in its Series A from investors, including Polychain Capital, Framework, and Pantera Capital.

• DHT liquidity mining rewards for the dTOP/ETH pool on Sushiswap on Polygon are now live.

• UMA announced it will be expanding to all EVM compatible chains starting with Polygon.

• Pendle, a protocol for tokenizing and trading future yield, launched on Ethereum.

Insurance/Security:

• Alchemix paused its alETH contract after a bug was discovered, causing alETH to become undercollateralized.

• PERI Finance and Pendle started bug bounty programs on Immunefi. The maximum bounties for discovering critical vulnerabilities are $3,000 and $250,000.

Other:

• Instadapp launched its governance token INST.

• Gemini added trading and custody support for ALCX, ANKR, FTM, MIR, API3, and DDX.

• BitDAO, a DAO focused on DeFi investments, raised $230 million from investors, including Peter Thiel, Founders Fund, and Pantera Capital.

• USDC (unofficially) deployed on Arbitrum.

• MetaMask updated its mobile apps, allowing users to buy ETH with Apple Pay and to swap all tokens (even custom ones) in wallet.

Reading List:

• Polygon Research: Ethereum Scaling with Rollups

• Element Thesis

• Bancor v2.1: a single-sided automated market maker

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

- Austin (@1A1zP1)