DeFi Rate - This Week in DeFi - November 19
This Week in DeFi - November 19This week, Paraswap airdrops PSP tokens, Injective starts $120m in LP rewards, Pendle LP rewards on Avalanche, and $1.5m for synths on Solana
To the DeFi community, This week, Paraswap distributed PSP tokens to approximately 20,000 active users of the protocol, a small fraction of total users defined based on a fairly strict criteria of consistent recent use of the protocol and exclusion of ‘gaming’ wallets and address clusters. To everyone who is trying to figure out why their wallets were filtered for PSP airdrop, here is a thread summarising the eligibility criteria: Injective launched Astro, a liquidity mining program that will distribute 10 million INJ tokens currently worth $120 million to market makers and traders on the platform. Rewards will be distributed over five years, with more than 162,000 INJ available in the first month. The #InjectiveAstro incentives are in full swing 🔥
Earn up to 180% in rewards for the following boosted markets: $BTC, $ETH, $AXS and $LINK.
Trade Now: injective.exchange Pendle Finance, allowing users to lock tokens with future yield potential to receive those rewards immediately, launched on Avalanche, with LP tokens from Trader Joe and BENQI eligible for staking. Deposits of these trading pairs will also be eligible for PENDLE rewards of 125% of the base rewards for pools during launch week. And Polysynth raised $1.5 million for synthetic assets on Solana, aiming to make available more than 100,000 synth assets following mainnet launch. The funds will go towards building a development team and completing smart contract security audits, as well as development of a Virtual Market Maker (VMM) that Polysynth claims will eliminate the need for bootstrapped liquidity from LPs and risks like impermanent loss. Boom!💥💥💥
We have raised $1.5M seed capital from a star-studded list of institutional and angel investors.
Over the last 3 months, we built a team of incredible engineers, designers and marketers who are proud to present our beta version.
🌐beta.polysynth.com Airdrops have come a long way since emerging around the ICO era, where crypto startups would simply airdrop hundreds or thousands (sometimes millions or more!) of their protocol token to every address on the Ethereum blockchain in the hopes that such generosity would foster interest and investment in their project. As with most ICOs, these early airdrops were poorly designed, rarely had the intended effect, and for the most part ended up as worthless dust in wallets of the day. Not everyone is thrilled with the Paraswap airdrop, many having their own particular argument about how they should be entitled to a greater share of tokens, or any tokens at all. But a close reading of the structure and reasoning behind the tightly controlled PSP distribution reveals a thoughtful effort to only distribute tokens not to users that happened to try the protocol early, or that had made one or two large trades, but that had consistently and meaningfully used the liquidity aggregation service and were likely to continue to do so. Remember, airdrops are not a reward for showing up early or throwing around lots of value - they’re a distribution channel for the keys to the castle, and ideally a reflection on the type of community distributing protocols want to foster long term. Uniswap and ENS are examples of other approaches to performing airdrops, but Paraswap has set a new bar for thoughtful investigation and ultimate distribution to those accounts most likely to strengthen the protocol long-term. One last reminder; if you genuinely believe in a protocol, and aren’t just looking for the next free bag of tokens to dump, there’s nearly always ample opportunity to grab PSP or other protocol tokens at a discounted valuation on the secondary market. Don’t expect to get rich on airdrops, but instead work to identify quality projects and consider the economics of distribution from the founders perspective, and you shall be richly rewarded. Thanks to our partner: Nexo – Unlock the power of your crypto with up to 12% interest and borrowing starting at 6.9%. Read our Nexo review. Interest RatesDAIHighest Yields: Fulcrum at 15.62% APY, BlockFi at 8.50% APY Cheapest Loans: Compound at 4.95% APY, Aave at 5.37% APY MakerDAO Updates DAI Savings Rate: 0.00% Base Fee: 0.00% ETH Stability Fee: 2.00% USDC Stability Fee: 0.00% WBTC Stability Fee: 2.00% USDCHighest Yields: Fulcrum at 21.95% APY, Celsius at 9.16% APY Cheapest Loans: Compound at 7.19% APY, Aave at 6.67% APY Top StoriespSTAKE Raises $10M to Bootstrap Liquid Staking ProtocolDeFi Land is Launching on AcceleRaytorPortal partners with Polygon to advance DeFi on BitcoinHarvest Becomes the Main Integrator of Idle Finance B2B ProgramStat BoxTotal Value Locked: $102.64B (down -7.76% since last week) DeFi Market Cap: $152.5B (down -9.30%) DEX Weekly Volume: $25.96B (down -0.42%) Total DeFi Users: 3,979,800 (up 2.35%) Bonus Reads[Samantha – Bankless] – DAOs: Changing the course of human life [Samuel Haig – The Defiant] – ConstitutionDAO Members Decry High Gas Fees After Narrowly Losing Auction [Jack Melnick – The Tie] – Unipilot and Popsicle.Finance: $6bn+ TAM for Liquidity Optimization [ycctrader – The Defiant] – Ape Diaries: Gasless Yield Farming on Aurora, NEAR’s EVM-Compatible Blockchain [Anthony Sassano – The Daily Gwei] – Strong Hands - The Daily Gwei #379 If you liked this post from This Week in DeFi , why not share it? |
Older messages
This Week in DeFi - November 12
Friday, November 12, 2021
This week, Raydium and Serum announce LP rewards, Wormhole support for Polygon, Polkadot's Acala raises $400m, and Maple permissioned DeFi
This Week in DeFi - November 5
Friday, November 5, 2021
This week, Aave governance approves V3, ENS to launch a DAO and airdrop, Avalanche announces $220m dev fund, and Stellar gets a native AMM
This Week in DeFi - October 29
Friday, October 29, 2021
This week, Osmosis DEX raises $21m, Serum announced LP rewards, 0x brings crypto prices to Pyth, and NEAR announces $800m for developers
This Week in DeFi - October 22
Friday, October 22, 2021
This week, Polygon pays $2m bug bounty, Jupiter Exchange launches and Synchrony raises $4.2m for Solana, and Mudrex indexes DeFi for retail
This Week in DeFi - October 15
Friday, October 15, 2021
This week, Sushiswap goes mobile with Celo, Morningstar Ventures invests $15m in Elrond, and pNetwork and Alchemix gear up for V2s
You Might Also Like
OP's Superchain Vision | Layer 2 Review
Friday, April 26, 2024
Quick Reads and Hot Links Covering the People and Projects Who Are Scaling Ethereum ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Investor exodus from Bitcoin ETFs as BlackRock and Fidelity see significant outflows
Friday, April 26, 2024
BlackRock see back-to-back zero flows as Fidelity's FBTC records first outflow. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Raise your onchain score
Friday, April 26, 2024
New Quests just dropped. Claim APT while you increase your chain score and build your reputation, helping with potential airdrop eligibility Flipside Crypto Hey there, A new Aptos Quest dropped. Claim
NFT & Blockchain Gaming Weekly - 📈 Runes Dominated BTC Transactions Post-Halving
Friday, April 26, 2024
Runes Dominated BTC Transactions Post-Halving. Telegram to tokenise stickers & emojis as NFTs. ApeCoin price drops 66% amid BAYC decline. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
WuBlockchain Weekly: SEC Expected to Reject Ethereum Spot ETF, ConsenSys Sues SEC, CZ trial is approaching and Top…
Friday, April 26, 2024
1. BlackRock's Bitcoin Spot ETF Achieves 70 Consecutive Days of Net Inflows link BlackRock is very pleased with the performance of its Bitcoin spot ETF (IBIT). Since its launch in January of this
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