Key Takeaways

• All DEXes showed decreases in TVL and market cap. However, 7-day average volumes showed mixed recovery with 50% of DEXes showing positive movement.

• Following recent allegations of interpersonal conflict, SushiSwap CTO Joseph Delong has resigned, citing chaos within and without the project’s leadership team. (ref)

• The total value locked (TVL) across all Ethereum DeFi platforms has increased to USD101.43B, according to DeFi Pulse, up from $100.573B last week. According to DeFiLlama, the TVL for all DeFi platforms is at $247.75B, down from $249.75B last week.

• Overall, DeFi price, volume, and volatility indices were negative at -1.11%, -8.84% and -23.68%.

Highlights

• Vitalik Buterin releases ‘Endgame’, a plausible roadmap for Ethereum

• SushiSwap CTO resigns, citing chaos ‘within and without’ the project

• Cardano’s DEX SundaeSwap launches public testnet

• AlphaX is now live on Avalanche

• Enso Finance plans vampire attack on six major index projects

• Kickstarter faces backlash over partnership with Celo

• Former Google CEO joins Chainlink Labs as strategic advisor 

• Polygon acquires Mir in $400M deal

• Index Coop DAO raises $2.25m and nears $500m in managed assets

• Zeta raises $8.5 from Jump Capital and others

• Opera’s native crypto wallet will add support for Solana early next year

• Crypto exchange AscendEX hacked for $78M

Check the latest prices on crypto.com/price

*DeFi dominance is defined as the total market capitalisation of DeFi coins as a percentage of that of all currencies (including DeFi coins), based on Coingecko’s data. See Coingecko’s definition of dominance for more information. Source: CoinGecko

Notable Events

• YFI newsletter #50 released. (ref)

• 0x and CELO expand partnership to allocate $4.5M towards the growth of the 0x ecosystem. (ref)

• BalancerDAO treasury is rapidly diversifying across DeFi. (ref)

Source: CoinGecko, StakingRewards, DeFi Llama

Notable Events

• The TVL and market cap of all DEXes decreased between -28.10% (SushiSwap) and -9.23% (Uniswap) this week. 

• However, there was mixed recovery across all DEXes with Uniswap, SushiSwap and PancakeSwap showing positive movement. 

• Trader Joe announced a deal with Wonderland Finance to diversify and increase protocol owned liquidity. (ref)

• SpookySwap shares a new partnership with CryptoRefills for users to spend their $BOO for ‘real world’ products. (ref)

• Former CTO of SushiSwap resigned from his role, further penning short reflections about leadership failures. (ref)

Thank you for reading! We hope you find our Weekly DeFi Update enlightening!

Hungry for more? Visit our Research Hub and University to access other insightful crypto research! 

Share with a friend if you like our email!

Share Crypto.com DeFi Research