Bacon, Eggs, and DeFi

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Bacon, Eggs, and DeFi #061
baconeggsandefi.substack.com

Bacon, Eggs, and DeFi #061

Recap of Wednesday June 16, 2021

Austin
Jun 17, 2021
Share this post
Bacon, Eggs, and DeFi #061
baconeggsandefi.substack.com

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

volmex.finance v1 is live on Ethereum mainnet! 🎉

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)

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