Key Takeaways 

• Yearn Finance (YFI) launched its first Ethereum layer-2 service on Arbitrum. Meanwhile, Solidly Exchange (SOLID), a new DeFi project built on the Fantom blockchain by Yearn founder Andre Cronje, has reached a TVL of $2.37 billion since launched on 10 Feb 2022.

• Cosmos (ATOM), the 2nd largest DeFi ecosystem by TVL, announced the launch of interchain accounts. At the same time, pSTAKE Finance brings liquid staking and a new airdrop to the Cosmos ecosystem.

• MMDAO, the team behind MMFinance (MMF) on the Cronos chain, introduced the 8th MMF Launchpad with the major concept of ‘Protocol-Owned-Liquidity (POL)’.

• This week’s price, volume, and volatility indices were positive at +3.56%, +31.56%, and +78.27%, respectively.

Highlights

• Former Cisco employee launches DAO to buy Denver Broncos

• Switzerland-based index provider offers DeFi exposure

• Austrian programmer and ex-crypto CEO likely stole $11 billion of Ether

• DEX super aggregator unites DApps across multiple chains

• Maple Finance partners with Celsius to launch wETH lending pool

• Opera announces the integration with DeFi platform DeversiFi

• Solana wallet Slope Finance raises $8 million

• Wrapped Bitcoin inflows stall as Ethereum DeFi use down

• The DAO is a major concept for 2022 and will disrupt many industries

• Front-running, flash bots and keeping things fair in the crypto market

Check the latest prices on Crypto.com/Price

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Notable Events

In general, this week's metrics were mainly driven by the conflict between Russia and Ukraine, and the crypto market volume and volatility are at a higher-than-usual level. (Note: NXM has a smaller base of about $4,000 average daily volume, hence, the % change is exaggerated.)

Notable Events

• Crypto markets plunged due to the conflict between Russia and Ukraine, together with the increases in the trading volumes and volatility.

• Following the hype and rapid growth of Solidly Exchange (SOLID), a new project by Andre Cronje on the Fantom (FTM) network, Fantom’s leading DEX, SpookySwap (BOO) also saw an increase in its native coin market cap.

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

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