DeFi Rate - This Week In DeFi – January 20
This Week In DeFi – January 20This week, Shiba Inu announces its Layer-2 scaling platform Shibarium, SushiSwap will build a DEX aggregator, 1inch introduces a hardware wallet, and Swing rolls out a handy cross-chain developer kit.To the DeFi community, This week, the Shiba Inu team has announced the beta release of Shibarium, an Ethereum Layer-2 scaling network. Shibarium aims to minimize costs and increase transaction speeds through a Delegated Proof-of-Stake (DPoS) Layer-2 blockchain. Validators and delegators will stake their tokens to receive rewards in the form of BONE, a governance token for decentralized exchange ShibaSwap. A soon-to-be-launched TREAT token will also play a role in the ecosystem, yet to be revealed. A new SHIB burning mechanism will also be implemented on the network, which will put deflationary pressure on the total SHIB supply. 🍖 Introduction to Shibarium: Shiba Inu's Layer 2 Network — Rejoice #ShibArmy! Shibarium Beta is about to be launched, and through this article we want to introduce some basic concepts in order to provide clarity to the community.
Read more: blog.shibaswap.com/introduction-t… SushiSwap CEO Jared Grey has announced several planned updates to the platform in a new Medium post – including a decentralized exchange (DEX) aggregator, set to launch in Q1 of this year. The updates are aimed at increasing the platform's market share by 10x in 2023, and follow after a Dec. 6 governance proposal that revealed that Sushi’s treasury only had one and a half years of runway left. Grey confirmed that measures have been taken to secure the platform's runway for multi-year operations. Additionally, Sushi is building a governance dashboard and focusing on user experience. The CEO of $Sushi has released a roadmap for 2023 - it is planned to launch a DEX aggregator router in 1Q, a change in tokenomics and it is planning to launch a decentralized incubator called Sushi Sushi Studios! DEX aggregator 1inch Network has introduced the 1inch Hardware Wallet, a proprietary hardware wallet that. The device is designed to be small, roughly the size of a bank card and comes with a 2.7-inch E-Ink grayscale touch display. The device is waterproof and has a damage-resistant Gorilla Glass 6 surface and a stainless-steel frame. The wallet also supports wireless charging and is designed to last for roughly two weeks of use. Additionally, the wallet replicates the design of the Apple product line and comes in five colors, with two limited editions. 1/ 💳 Meet a cutting-edge solution for cold #crypto storage that's no bigger than a bank card.
We're excited to introduce to you the #1inchHardwareWallet!
✅ Join the waiting list now: hw.1inch.io
➡️ Read more: blog.1inch.io/introducing-th…
#1inch #DeFi Decentralized cross-chain liquidity protocol Swing has rolls out a new widget and software developer kit (SDK) to simplify cross-chain crypto deployments. The new widget and SDK support 21 Ethereum Virtual Machine-compatible chains including Ethereum, BNB Chain, Arbitrum and Optimism – with plans to expand to cover four non-EVM networks like Solana and Cosmos. The technology is aimed at eliminating liquidity fragmentation, where liquidity is siloed across different blockchains and cannot easily flow between chains. The goal is to make it easier for developers to complete bridge integrations for their decentralized applications and make the process of cross-chain deployment easier. 📢The wait is over! Swing SDK & Widget is now Live🚀
Easily connect your dApp to cross-chain liquidity from bridges and blockchains with just a few lines of code.
Get Started: swing.xyz/developer-hub The Block @TheBlock__ Centralized news has finally taken a backseat to real DeFi development this week, as several projects announce new and exciting moves. Competition is heating up again in the Ethereum Layer-2 scaling space, as Shiba Inu’s “Shibarium” enters the race, while Optimism takes the lead ahead of Arbitrum in transaction volume – possibly a symptom of users sick of waiting for an Arbitrum governance token. SushiSwap is also adding a competitor to the decentralized exchange aggregator space, as it looks to renew its relevance in the DEX ecosystem. Although Sushi has lost some of its allure over the last year or so, sticking to its principles of sovereignty and autonomy may be a valuable feature as competitors such as Uniswap become more “compliant” and controlled. The integration of blockchain into traditional finance also continues to develop, as Australian “Big 4” bank NAB launches its own stablecoin backed by the Australian dollar. This represents yet another solid confirmation that public blockchains can provide benefits to the existing financial system. It's refreshing to see DeFi back in a building mindset, with less impact of market prices and centralized drama – let’s see what leaps the technology can make this time around. Interest RatesDAIHighest Yields: Nexo Lend at 10% APY, Aave at 1.3% APY MakerDAO Updates DAI Savings Rate: 1.00% Base Fee: 0.00% ETH Stability Fee: 0.50% USDC Stability Fee: 0.00% WBTC Stability Fee: 0.75% USDCHighest Yields: Nexo Lend at 10% APY, Coinbase at 1.2% APY Top StoriesAussie ‘Big 4’ bank mints stablecoin for carbon trading and remittancesPolygon Completes Hard Fork to Reduce Gas Fee Spikes, Disruptive ReorgsVote on Crucial European Crypto Legislation Delayed AgainSEC Files “Totally Counterproductive” Charges Against Gemini and GenesisStat BoxTotal Value Locked: $44.85B (up 5.5% since last week) DeFi Market Cap: $42.79B (up 7.6%) DEX Weekly Volume: $13.28B (up 62%) Bonus Reads[Kari McMahon – The Block] – ZK tech developer Nil Foundation raises $22 million at a $220 million valuation [Osato Avan-Nomayo – The Block] – MakerDAO voting to limit DAI exposure to Gemini amid insolvency fears [Shaurya Malwa – The Defiant] – DeFi Protocol Frontier Brings In-Browser Wallet Support for Aptos, Sui and 33 Additional Blockchains [Mike Truppa – The Block] – Ethereum Layer 2 protocol Optimism surpasses Arbitrum in transaction volume |
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This Week In DeFi – January 13
Friday, January 20, 2023
This week, ConsenSys launches their zkEVM scaling platform testnet, Ondo Finance tokenizes US treasuries and bonds, Yearn makes vault creation permissionless, and Nexo gets raided in Bulgaria.
This Week In DeFi – January 6
Friday, January 6, 2023
This week, SushiSwap explores new tokenomics, Vauld rejects Nexo's final acquisition proposal, TON launches a data sharing solution and a judge rules that customer funds belong to Celsius.
This Week In DeFi – December 30
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This week, Alameda Research addresses continue to engage in shady behavior, 1inch releases its "Fusion" upgrade and Stacks looks to bring smart contract functionality to Bitcoin with sBTC.
This Week In DeFi – December 16
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This week, Binance.US agrees to acquire Voyager Digital, Visa considers StarkNet for automatic payments, Uniswap partners with Moonpay and Senator Toomey introduces a stablecoin bill before retirement
This Week In DeFi – December 9
Friday, December 9, 2022
This week, Maple Finance borrowers owe tens of millions, ConsenSys responds to privacy backlash, SushiSwap looks to boost its treasury and Chainlink launches staking.
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