🔥🔥🔥DeFi News / 01st – 07th November

The DeFi analytics team has prepared a summary of the DeFi market, events, and important news that happened last week. More smart DeFi ideas and memes (of course) – Discord channel and t.me/defimr. Stay tuned! Disclaimer: This post is for informational purposes only and should not be relied upon as a basis for investment decisions. Please do not follow any opinion as a specific strategy.

🤟 DeFi Overview

  • DeFi users over time – 3,852,612 – total_users
  • DeFi Pulse Index: $383.75

👌 L2 Solution overview

TVL: $4.87 B
+4.03% / 7 days

👾 DeFi News

  • Avalanche Joins Layer 1 Funding Boom with $200M War Chest for Devs.
  • DeFi Founders Debate Whether to Resist or Embrace Regulation.
  • Solana Powers Up Web3 Gaming Projects with $100M Funding Deal.
  • Don’t Dis TradFi —It Shows Good Ways to Manage Risk and Open DeFi to Newbies.
  • Governance of DeFi Giant Curve in Flux as Smaller Convex Exerts Control.
  • Crypto Custody Solutions for Organizations Entering the DeFi Space.
  • DeFi protocol bZx compromised again: $55 million stolen in private key leak.
  • DeFi exploits total $680 million so far in 2021.
  • Decentralized Identity Startup Spruce Raises $7.5M.
  • Tempus Raises $4M Strategic Funding Round.
  • Solana Ventures, Lightspeed Venture Partners and FTX launch $100M gaming fund.
  • Panther Protocol and Supra Oracles join forces To Enable Cross-Chain, Private DeFi.
  • DIA Association Announces Yet Another Integration to a New Ledger: Avalanche.

🖥 Videos

  • DEFI 2.0 – A New Narrative? OlympusDAO, Tokemak Explained.
    So what is DeFi 2.0 all about? Is this just a new, temporary narrative or a paradigm shift? What are some of the most interesting DeFi 2.0 protocols? And what does this all mean for the already existing DeFi projects? You’ll find answers to these questions in this video.
    The crypto space loves new narratives. DeFi Summer, Layer 1 Summer or “jpeg” Mania to name a few. It seems like “DeFi 2.0” is the new kid on the block and has recently been gaining more and more traction.
    Although the ideas behind DeFi 2.0 are still crystallising, in general, the concept refers to a new breed of DeFi protocols that try to solve some of the main pain points of the already existing projects by experimenting with the protocol design and tokenomics.
    Now, let’s unpack what it all means.
  • CRO Cronos Crypto.com Mainnet | MASSIVE for the Metaverse, DeFi and NFTs.
    Crypto.com and CRO token price have been pumping like crazy as the entire crypto sector is anticipating the upcoming Cronos mainnet on Nov 8. This affects the broader CRO and altcoin ecosystem along with NFT, defi, and metaverse functionality. We make comparisons to Binance and the BNB token which launched its BSC Binance Smart Chain parallel chain with great success. We also discuss EVM compatibility and the Cronos Bridge.
  • BEST Platform for Crypto PASSIVE Gains (Innovative Defi Puts POWER Back In Your Hands).

💵 Earning

  • Yeld review | FARM THEM ALL (from Moni)
    • Come on in. Click on the calculator. Do you like what you see?
  • Have a look at the post from Chris.
    I would never have thought that my boring posts could be useful to someone! Thank you, guys ❤️
    And that’s why I’m posting a new one 😅
    if you provided your $KSM for a Kusama parachain auction via Bifrost and you were given $vsKSM in return you can:
    – buy $KSM that equals the $vsKSM amount of $
    – add $KSM and your existing $vsKSM to a pool
    – earn 720% APY in $BNC and $ZLK tokens
    if you’re waiting for your $KSM contribution to any applicant, Bit.Country for example, on Bifrost, do that, get vsKSM and start reading the post at the beginning to get 720% APY
    What is $vsKSM?
    – $vsKSM is the liquidity release token that was created by Bifrost project. Read more.- Link
    fyi, another solution to sell $KSM for $vsKSM with 40% discount
  • Farm Ribbon Finance’s new Aave Covered Calls vault!
    Ribbon Finance is a protocol for crypto-structured products.
    These DeFi-native products operate according to unique automated investment strategies, with the goal being to optimize yields while minimizing risks for investors.
    Zooming in, Ribbon’s initial products have been Theta Vaults. Simply put, these vaults earn investors money by putting users’ deposits to work in automated options selling strategies.
    The first of these Theta Vaults have centered around ETH put selling strategies and ETH or WBTC covered call strategies. That’s why Ribbon made waves this week in launching its first Theta Vault around a DeFi token, which was AAVE!
    • How to farm with the T-AAVE-C vault
      Before proceeding, let’s get you up to speed. Here’s how you would go about using Ribbon’s new Aave Covered Calls vault:
      • To start, you’d go to Ribbon’s T-AAVE-C dashboard and then connect your wallet. 
      • Then press the provided “Approve Aave” button and complete the transaction with your wallet. Doing so will allow Ribbon to use your Aave. (At the time of writing, the cost of this tx was ~$35 worth of ETH).
      • The approval transaction may take a few minutes to process. Once that’s done, input the amount of AAVE you’d like to deposit and press “Preview Deposit.” 
      • A prompt will pop up showing your proposed position. If everything looks correct, press “Deposit Now” and confirm the transaction with your wallet. (At the time of writing, the cost of this tx was ~$140 worth of ETH). 
      • With that completed, the vault will start auto-farming with your deposited AAVE! Then later you’ll handle withdrawals as needed through the vault dashboard’s Withdraw interface.

      As for what’s actually happening under the hood here, Ribbon takes the AAVE deposits and uses them to mint European AAVE call options via Opyn. Ribbon thus sells these options through Gnosis batch auctions, and the earnings from these sales create yield for depositors. That’s the tl;dr, at least!

      Note that this Theta Vault has a preliminary deposit cap of 15.5k AAVE, with the plan being to raise this cap over time. Also, Ribbon Finance is an interesting protocol but yield farm cautiously wherever you go. Never deposit more into any project than you can afford to lose. It’s completely possible for this Theta Vault to incur weekly losses, so beware!

🐣 #twitter gems seeking (a new topic from Chris — finding alpha in DeFi)

❤️ Additional useful content

  • TOP-15 tokens by Current ROI that had been launched in 2021.
  • TOP-15 Projects between $100M and $125M Market Cap with the potential to grow!
  • TOP Blockchains by average daily development activity on GitHub in the last 30 days.

👍Meme of the week

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