DeFi Rate - This Week in DeFi - April 22
This Week in DeFi - April 22This week, Tron announces a stablecoin with 30% yield, Optimism may by launching a token, and Framework Ventures announces a $400M web3 fund.To the DeFi community, This week Tron crashed the algorithmic stablecoin party, announcing that it will launch its very own USDD stablecoin May 5th. The coin will be supported with TRX and $10 billion worth of crypto reserves – as well as offering 30% interest rate. This may be one to watch, as it attracts liquidity away from the dwindling UST and anchor protocol, as well as stealing the thunder from NEAR Protocol's budding USN. 💸The @usddnetwork will provide custody service for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve.
⚖️The @trondaoreserve will set its basic risk-free interest rate to 30% per annum.
#USDD #TRONDAOReserve Ethereum scaling platform Optimism may be the next Layer-2 solution to release its own token, following a development team blog post laying out plans for a move to community ownership and governance. Sparking additional excitement was a recently-discovered Coinbase price page for an Optimism $OP token – providing further evidence of a possible airdrop or other token distribution scheme. Looks like Coinbase knows the $OP ticker name already
What's your best guess for fully diluted market cap of @optimismPBC ? 😜
DeFi Airdrops 🦇🔊 @defi_airdrops Rumours that a L2 is launching a token imminently. Is it @optimismPBC ? When in doubt go bridge into Optimism now and support the best projects 👇 - LP in @HopProtocol - LP in @lyrafinance - Stake $SNX - Trade @kwenta_io - Deposit in @PolynomialFi https://t.co/UaXpIAr58AFramework Ventures announces a new $400M Web3 fund directed at decentralized finance startups, as well as a significant allocation towards the blockchain gaming sector. It will be Framework’s third investment fund. 1/ Framework Ventures has raised $400 million for our third crypto fund, dubbed “FVIII”, bringing our total AUM over $1.4 billion.
Approximately half, or $200 million, is earmarked for the rapidly growing blockchain gaming space.
@business:
MakerDAO branches out to Ethereum Layer-2 scaling solution, StarkNet, to facilitate a cheaper Dai stablecoin ecosystem. The expansion will take place in four phases, beginning with a bridge that goes live toward the end of this month. Pioneering DeFi platform @MakerDAO is charting its multi-chain future, starting with a bridge to @StarkWareLtd’s Ethereum layer 2.
@IanAllison123 reports
The algorithmic stablecoin craze has now expanded across almost every major blockchain, with each Layer-1 protocol now appearing to have announced its very own crypto-backed algorithmic solution. A large proportion of these stablecoins are accompanied by savings rate DApps that offer tremendous yields, in many cases designed to attract short-term liquidity into their respective ecosystems. With interest rates upwards of 20% (and now as high as 30% on the way for Tron's USDD), a majority of these new stablecoins are enticing participation through long-term unsustainable yields – in most cases, subsidized by "yield reserves" funded by development teams or governance systems. We can expect a short-term disruption across stablecoin markets as participants chase the highest yields for their capital – but this phase may be relatively short-lived. Eventually the yield reserves subsidizing these outsized, fixed-rate returns will run dry and capital will trickle back into long-term sustainable models. For now, however, we can expect some stablecoin market chaos. Thanks to our partner: Nexo – Unlock the power of your crypto with up to 17% interest and borrowing starting at 6.9%. Read our Nexo review. Interest RatesDAIHighest Yields: Nexo Lend at 9.02% APY, BlockFi at 8.50% APY Cheapest Loans: Celsius at 1.00%, Aave at 3.25% APY MakerDAO Updates DAI Savings Rate: 0.01% Base Fee: 0.00% ETH Stability Fee: 0.50% USDC Stability Fee: 0.00% WBTC Stability Fee: 0.75% USDCHighest Yields: Nexo Lend at 9.02% APY, BlockFi at 7.36% APY Cheapest Loans: Celsius at 1.00%, Aave at 3.46% APY Top StoriesGoldman Sachs Reportedly Keen to Forge Ties With FTXCoinbase NFT Marketplace Goes Live. Can It Rival OpenSea?Sweden, EU Discussed Bitcoin Proof-of-Work BanKuCoin Launches $100M Web3 Creators FundStat BoxTotal Value Locked: $76.29B (down 0.50% since last week) DeFi Market Cap: $124.82B (up 3.21%%) DEX Weekly Volume: $14B (down 22.22%) DAI Supply: 8.71B (down 0.91%%) Bonus Reads[Yogita Khatri - The Block] – Aurora-based DeFi protocol Bastion raises $9 million in funding led by Three Arrows Capital [Samuel Haig – The Defiant] – Why Compound Might Ditch its Yield Farmers [Brian Quarmby – Cointelegraph] – Derivatives exchange dYdX to become '100% decentralized by EOY' [Osato Avan-Nomayo – The Block] – Kadena announces $100 million grant program for web3 developers If you liked this post from This Week in DeFi , why not share it? |
Key phrases
Older messages
This Week in DeFi - April 8
Friday, April 8, 2022
This week, UST and FRAX take on DAI on Curve, a new token standard is created on Ethereum and NEAR Protocol raises $350M.
This Week in DeFi - April 1
Friday, April 1, 2022
This week, the Fantom Foundation launches a $500M incentives program, 1inch releases a wallet for Android, and DeFi TVL recovers.
This Week in DeFi - March 18
Saturday, March 19, 2022
This week, Optimism raises $150m Series B, Sushiswap launches new AMM aggregator, Aave debuts V3, and Ethereum merges in Kiln
This Week in DeFi - March 11
Friday, March 11, 2022
This week, Kyberswap on Arbitrum, Avalanche announces $290m in incentives, Cega gets $3.4m for Solana derivatives, and Wirex adds Paraswap
This Week in DeFi - March 4
Friday, March 4, 2022
This week, Electric Capital raises $1b for Web3, 1inch intros P2P swaps, Nested raises $7.5m, and VALR gets $50m for crypto in Africa
You Might Also Like
April 30 set for historic launch of Bitcoin and Ethereum ETFs in Hong Kong
Wednesday, April 24, 2024
Competitive fee structures revealed for new Bitcoin and Ethereum ETFs in Hong Kong. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs
Wednesday, April 24, 2024
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners' earnings to surge. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly - 💧Ethereum Liquid Restaking Drives DeFi TVL to 2-Year Highs
Wednesday, April 24, 2024
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners' earnings to surge. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
OKX Web3 On-Chain Anti-Phishing Security Trading Guide
Wednesday, April 24, 2024
Aurthor: OKX Web3 As we enter a new cycle, the risks of on-chain interactions are becoming increasingly exposed with the rise in user activity. Phishers typically use methods such as creating
You’re Not Going to Believe This
Tuesday, April 23, 2024
Massive Surprise Inside
New Quests: increase AirDrop eligibility
Tuesday, April 23, 2024
New Flipside Quests just dropped. Claim $AVAX and $APT while you increase your chain score and build your reputation, helping with airdrops. Flipside Crypto Hey there, Claim $APT and $AVAX when you
Robert F. Kennedy, Jr. wants to put US budget on blockchain for 24/7 transparency
Tuesday, April 23, 2024
The public could inspect government spending 24/7 under the plan. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Layer-1 Landscape
Tuesday, April 23, 2024
A data-driven look across Layer-1 ecosystems ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Cathie Wood Iinterview In HK: Bitcoin Price Prediction for 2030, HK Is a Leading Crypto Policy Pioneer
Tuesday, April 23, 2024
Editor | Wublockchain Here is the full transcript of the Hong Kong Web3 Festival: Please welcome the head of HashKey Singapore and CEO of HashKey Capital, Mr. DC, and the CEO and CIO of ARK Invest, Ms.
100k signatures can trigger Swiss national referendum on adding Bitcoin to country reserves
Monday, April 22, 2024
If the Bitcoin advocates' plan succeeds, Switzerland could become the first country in the West to embrace the flagship crypto asset. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏