Key Takeaways 

• Terra (LUNA) stablecoin UST has been integrated by the Thorchain (RUNE) protocol and can now be exchanged for Bitcoin (BTC) natively.

• Minswap (MIN), a recently-launched DeFi protocol on Cardano (ADA), has surpassed SundaeSwap (SUNDAE) in terms of TVL, making it the top DeFi protocol on Cardano with a TVL dominance of 65.85% at the time of writing.

• Former Polychain Capital partner Tekin Salimi launched a US$125 million crypto fund, dao5, to focus on investing in early-stage protocols and blockchain companies. Dao5 is on track to become a fully founder-owned DAO by 2025.

• The Cronos Ecosystem Grant Program, which focuses on supporting early-stage projects on Cronos, announced its second batch of beneficiaries.

• This week’s price and volume indices were positive at +11.29% and +20.91%, respectively, while the volatility index was negative at -47.26%.

Highlights

• Euler proposes eIP6: Bringing Chainlink (LINK) at the ensure degree

• Loopring (LRC) price surges by 50% after GameStop NFT marketplace integration

• DeFiance Capital rescues $13.3 million at risk of being stolen

• Solana (SOL) stablecoin project Cashio (CASH) plummets to zero after multi-million dollar hack

• MakerDAO (MKR) dev insists DeFi protocol should leverage real world assets to scale

• Litedex (LDX) protocol set to be listed on LBank exchange

• SushiSwap (SUSHI) community proposes Swiss legal structure to limit DAO liability

• FTMCRAZY: Introducing the new hybrid ROI DApp project in the crypto world

• dxFeed implements Airnode API3 to present pricing information for a broad array of Web3 applications

• Crypto investor Katie Haun raises $1.5 billion for Web3 venture fund

Check the latest prices on Crypto.com/Price

Check Price

Top Token Metrics

*Top DeFi tokens based on CoinGecko

Source: CoinGecko

DeFi Index Tokens

*DeFI index tokens: LINK,YFI,AAVE,SNX,UNI,COMP,MKR,UMA,REN,LRC,NXM,BAL,CRV

Notable Events

Loopring (LRC) metrics surged after GameStop’s NFT marketplace integration

DEX Metrics

* % change is based on the difference between two consecutive weekly periods

** Omitted due to incomplete source data

Source: CoinGecko, DeFi Llama, Nomics

Notable Events

Trader Joe (JOE) shows decline in TVL, possibly due to the cooling down of the native token AVAX after Avalanche launch on Anchor Protocol

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