Bacon, Eggs, and DeFi #063

Recap of Tuesday June 22 and Wednesday June 23, 2021

Welcome to Bacon, Eggs, and DeFi #063. Here's a recap of the past two days of DeFi news!

DEXes:

• Uniswap Labs hired Mary-Catherine Lader as its first Chief Operating Officer.

• Gauntlet made its second round of changes to Balancer v2 fees.

Lending:

• Yield raised $10 million from investors, including Paradigm, Framework Ventures, and CMS Holdings.

• Inverse Finance added stETH as collateral.

• Ruler Protocol paused deposits on vETH2 and ended liquidity mining rewards following SharedStake’s insider exploit.

• Cream Finance announced its first listing committee, which will be responsible for voting on proposals, including asset listings, reserve factors, collateral factors, and collateral caps.

Asset Management:

• BadgerDAO will be launching five new CRV LP vaults, including HBTC, bBTC, oBTC, pBTC, and Tricrypto.

Derivatives:

• dYdX added a MKR/USD perpetuals market with up to 10x leverage.

• Kwenta will be rebalancing its sDEFI index to add BOND and RUNE.

• Pods Finance added two new options to its demo release on Polygon - a MATIC put (0.8 USDC strike price) and a SUSHI put (5.2 USDC strike price). Both options expire on June 28.

• Strips Finance raised $2.5 million in its seed round from investors, including Crypto.com Capital, Mechanism Capital, and Finlink Capital.

Insurance/Security:

• Clipper and Tranchess started bug bounty programs on Immunefi. The maximum bounties for discovering critical vulnerabilities are $100,000 and $50,000.

• Eleven.Finance was exploited for $4.5 million.

Other:

• Coinbase Pro added support for inbound transfers of BOND, LPT, and QNT.

• More than 5% of ETH’s total supply is now locked in the ETH2 deposit contract.

• Blockchain Capital raised $300 million for Fund V with select investors, including PayPal and Visa, participating in its strategic partnership program.

• There are now more than 25 billion USDC in circulation.

• DeFi Pulse added Premia Finance to its dashboard.

• Blockchain.com added support for AAVE and YFI in its Interest Accounts.

Reading List:

• Yield wars behind Curve Finance

• Algorithmic Stablecoins

• An introduction to DAOs

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

- Austin (@1A1zP1)