DeFi Rate - This Week In DeFi – June 10
This Week In DeFi – June 10This week, Ethereum completed its Ropsten testnet merge, Wintermute unveiled its DEX aggregator and TronDAO decides to overcollateralize USDDTo the DeFi community, USDD @usddio With the Ethereum Proof-of-Stake merge process headlining the week, all eyes are on the largest smart-contracts platform in the world right now – some news being exceedingly positive, but also some not so much. Of particular concern is staked Lido Staked Ether (stETH), i.e. tokens representing a claim on Ether (ETH) staked in the mainnet beacon chain in anticipation of the "real" merge. The stETH token is a way to provide some utility to this otherwise-immobile ETH, enabling transferability and other uses across the ecosystem. However, a possible liquidity crunch and dive in demand for stETH may send some lending platforms (both centralized and decentralized) into a selling frenzy, in a similar manner to a traditional bank-run. At the center of the concern lies Celsius – one of the largest holders of stETH, unfortunately also in the middle of insolvency rumors. With users withdrawing their funds from the platform in a risk-averse bear market, some worry that Celsius will have to begin selling their stETH to cover those claims. Add to this a possible delay to the mainnet merge and price discovery for stETH that doesn't quite match the exact price of ETH, and we have some decently-justified worries to address. Twitter user @Crypto_Joe10 had some valuable insights and opinions in the post above. Thanks to our partner: Nexo Interest RatesDAIHighest Yields Cheapest Loans MakerDAO DAI Base Fee ETH Stability Fee USDC WBTC Stability Fee USDCHighest Yields Cheapest Loans Top StoriesPayPal Enables Crypto Withdrawals to Non-Custodial WalletsNew York's financial regulator issues new guidance on dollar-backed stablecoinsDeFi contagion? Analysts warn of ‘Staked Ether’ de-pegging from Ethereum by 50%Tether Launches Stablecoin on Tezos to Unlock New DeFi ProductsStat BoxTotal Value Locked DeFi Market Cap DEX Weekly Volume Bonus ReadsIf you liked this post from This Week in DeFi , why not share it? |
Older messages
This Week In DeFi - June 3
Saturday, June 4, 2022
This week, Binance Labs raises $500M for a new web3 fund, Ethereum prepares for its testnet merge and the Lightning Network sets a new record.
This Week In DeFi - May 27
Friday, May 27, 2022
This week, a16z raises a record $4.5B for its fourth crypto fund, Terra 2.0 is on the way and StarkWare reaches an $8B valuation.
This Week In DeFi - May 20
Friday, May 20, 2022
This week, the Terra community votes on a hard fork, Robinhood announces a web3 wallet and Aave launches its social media platform.
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.
You Might Also Like
Your bi-weekly crypto insights 📊
Thursday, April 25, 2024
Top data-driven insights from across the crypto space, to keep you ahead of trends. This week's top insight: Sei TVL per active address grew 10x since Flipside Crypto Onchain Insider Your bi-weekly
BlackRock’s historic 71-day streak ends as IBIT Bitcoin ETF sees zero inflows
Thursday, April 25, 2024
Fidelity and Ark only ETFs to record inflows as Bitcoin ETFs begin to cool off. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Your Last Chance to Make BANK on Crypto
Thursday, April 25, 2024
Open This or Miss Out
Inside Parcl: Trade Real Estate Like Never Before?
Thursday, April 25, 2024
Parcl, a pioneering Solana-based platform, aims to revolutionize the real estate market by introducing liquidity to this traditionally illiquid asset class. It created a comprehensive real estate index
Reminder: The 2024 Bitcoin Halving Has Successfully Been Completed
Thursday, April 25, 2024
We bring you the top stories in crypto every week! Stories like... Monday April 22, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR The 2024 Bitcoin Halving Has Successfully Been Completed
April 30 set for historic launch of Bitcoin and Ethereum ETFs in Hong Kong
Wednesday, April 24, 2024
Competitive fee structures revealed for new Bitcoin and Ethereum ETFs in Hong Kong. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs
Wednesday, April 24, 2024
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners' earnings to surge. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs
Wednesday, April 24, 2024
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners' earnings to surge. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
OKX Web3 On-Chain Anti-Phishing Security Trading Guide
Wednesday, April 24, 2024
Aurthor: OKX Web3 As we enter a new cycle, the risks of on-chain interactions are becoming increasingly exposed with the rise in user activity. Phishers typically use methods such as creating
You’re Not Going to Believe This
Tuesday, April 23, 2024
Massive Surprise Inside