DeFi Rate - This Week In DeFi - May 20
This Week In DeFi - May 20This week, the Terra community votes on a hard fork, Robinhood announces a web3 wallet and Aave launches its social media platform.To the DeFi community, This week the Terra community is currently voting for or against a fork of the network, with a potential new chain that removes the UST stablecoin from the equation. Although the current governance voting is skewed highly in favor of the fork, a large proportion of the community appears to be highly against it – instead looking for a large-scale burn of existing LUNA tokens on the original chain. A preliminary vote in the governance forum was highly against the fork, with more than 90% of votes being against it. Time to vote #LUNAtics 👇 #TerraIsMoreThanUST Do Kwon 🌕 @stablekwon 1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live. Vote here: https://t.co/ZlGxNCUTMa https://t.co/plj0guJwaoMainstream trading app giant Robinhood has announced that it will be launching a non-custodial web3 wallet, to enable users to participate in DeFi and NFT markets. A blog post by Robinhood says the wallet will not charge network fees – however how that will be achieved has not yet been disclosed. Trade and swap crypto with no network fees. A web3 wallet from us. Get early access: rbnhd.co/web3-wallet Aave has launched its decentralized social networking platform on Polygon. Lens Protocol is designed to make it easy to build social media DApps, and is reportedly already equipped with 50 different compatible apps at launch. Bloom into a new era of social 🌿 Lens Protocol is ready for you to build the next gen of social media apps. The garden is open... lens.xyz The Uniswap Community is currently voting on whether the protocol should deploy on two new chains: Moonbeam and Gnosis Chain. If both chains are approved, Uniswap will officially be active on seven different chains – the majority of which are currently Ethereum-based. 📜 There are two ongoing Uniswap Governance votes for new chain deployments:
@gnosischain and @MoonbeamNetwork
Delegates can vote here: app.uniswap.org/#/vote?chain=m… Adoption and development are still moving along nicely, as projects somewhat continue to silently raise funding, launch and expand to new networks. Decentralized social media is getting a significant new test as DeFi powerhouse Aave launches Lens Protocol, while existing DeFi projects such as Uniswap begin to test the waters on newer networks like Moonbeam and Gnosis. With Ethereum's Proof-of-Stake coming to public testnet very soon, we are entering a very exciting period in the decentralized world indeed – if one can put aside price action and the market-wide purge. Nascent Layer-1 chains and scaling solutions alike are about to enter a nice and slow period of adoption and testing, perhaps to the benefit of developers and the wider ecosystem. A slower run-up in use and adoption during a bear market will reduce the downfalls of irrational exuberance, leading to healthier organic growth and less room for large errors or hacks. Healthy ecosystem development is here; no time is better to try out new protocols, test the future of finance, and maybe even collect some nice retroactive airdrops along the way. Thanks to our partner: Nexo – Unlock the power of your crypto with up to 17% interest and borrowing starting at 6.9%. Read our Nexo review. Interest RatesDAIHighest Yields: Nexo Lend at 10% APY, BlockFi at 8.50% APY Cheapest Loans: Celsius at 0.87%, Aave at 3.50% APY MakerDAO Updates DAI Savings Rate: 0.01% Base Fee: 0.00% ETH Stability Fee: 0.50% USDC Stability Fee: 1.00% WBTC Stability Fee: 0.75% USDCHighest Yields: Nexo Lend at 10% APY, Gemini at 7.99% APY Cheapest Loans: Celsius at 0.34%, Compound at 2.99% APY Top StoriesMeta files five trademark applications for 'Meta Pay' teasing crypto and digital payment platformPortugal considering capital gains tax for cryptocurrencyCFTC Expected to Add More Resources to Better Monitor Crypto MarketsEthereum Nears Major Upgrade as Testnet Set to Undergo Merge in JuneStat BoxTotal Value Locked: $53.38B (down 13% since last week) DeFi Market Cap: $53.0B (up 6%) DEX Weekly Volume: $21B (down 46%) Bonus Reads[Joe Light – Barrons] – Celsius Faces a Revolt as a High-Yield Crypto Plummets [Yogita Khatri – The Block] – Coinbase, Figment to support institutional liquid staking protocol Alluvial [Ryan Browne– CNBC] – Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing If you liked this post from This Week in DeFi , why not share it? |
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This Week In DeFi - May 13
Friday, May 13, 2022
This week, LUNA and UST enter a death spiral, Aurora launches a $90M development fund and Bancor 3 goes live.
This Week in DeFi - May 6
Friday, May 6, 2022
This week, Tron launches its USDD stablecoin with 30% interest, Opera integrates BNB Chain and a Virginia County pension fund looks to DeFi.
This Week in DeFi - April 29
Friday, April 29, 2022
This week, Optimism announces its new governance system and $OP token distribution, Asymmetric announces a $1B crypto fund & 0x raises $70M.
This Week in DeFi - April 22
Friday, April 22, 2022
This week, Tron announces a stablecoin with 30% yield, Optimism may by launching a token, and Framework Ventures announces a $400M web3 fund.
This Week in DeFi - April 8
Friday, April 8, 2022
This week, UST and FRAX take on DAI on Curve, a new token standard is created on Ethereum and NEAR Protocol raises $350M.
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