DeFi News / 13th-19th September

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.

News

  • The WSBDApp trading platform has announced Exchange Traded Portfolios (ETPs) on Balancer (V2)
  • The new Zodiac-compatible Minion Safe announced: DAOHaus adopts Zodiac to enable Moloch DAOs to manage Gnosis Safes
  • News from Paradigm
    • Cardano gains smart contract capability following ‘Alonzo’ hard fork
    • The Avalanche Rush program keeps growing. Polychain Capital, Three Arrows Capital Lead $230M Investment in Avalanche Ecosystem.
    • StaFi announces the launch of the rBNB solution, which solves the staking liquidity problem for the Binance Chain community
    • Solana will be the next chain for Orbs integration
  • 🌽 Yearn Finance launched beta of the V3 version of the interface. The beta version is already available here. Of the major improvements:

    – Improved display of positions and metrics

    – New mobile version and themes

    – Improved Iron Bank integration

    – Fewer failed transactions and more accurate determination of the number of tokens received in transactions.

  • MonoX raise $5M to launch single-token liquidity pools. The automated market maker is currently in beta development and set to launch in Q3 2021.
  • Introducing the Auto Router. We’re excited to announce the release of our new Auto Router! The Auto Router uses an advanced smart order routing algorithm to find better prices for traders in the Uniswap app. This includes:
    • Split routes which execute trades across multiple pools at once
    • More powerful algorithm that considers a larger data set for larger trades and better prices
    • Gas cost awareness ensures every added step is net positive for your trade

    Lastly, if there is a better trade available on Uniswap v2 after accounting for gas costs, the Auto Router will automatically switch to v2.

Videos

  • [Demo] Pangolin DEX – Staking, Swapping, and Farming on Avalanche. We are stoked to show you more DeFi blue chips around the Multichain. As you’ve probably seen, non-ETH chains are picking up steam as AVAX, SOL, and FTM head for new highs. We’re keeping a close eye on the action over at Avalanche to provide y’all with the insights you need to successfully farm across the Multichain. Today Andy and Leo cover the Pangolin DEX. Pangolin is the heart and soul of Avalanche — providing swaps with over $300m in liquidity across several market pairs. Don’t miss the DeFi Rush headed to Avalanche this Fall. 
  • How to earn fixed rate of interest on 88MPH. 88MPH is a non-custodial, fully on-chain protocol acting as an intermediary between you and third-party variable yield rate protocols to offer the best fixed yield rate on your capital.

Earning

From Moni

  • Do you like pasta? Nah, you don’t get it; it’s just pastries :)) Well, go ahead, farm some stables here! And count the APY, by the way, it’s not bad at all.
  • Did you have a great DYOR on the pasta DEX? Then you can pair it with BNB on Pancake, and to farm! APY is supposed to be too sweet in the end, make sure it doesn’t stick there.

  • Yield farm +1,000% APR via Impermax on Arbitrum! (from yieldfarmer). Liquidity provider tokens are ubiquitous across DeFi now. Yet in earlier times, all you could really do with your LP tokens was hold ‘em. Toward that end, one newer project doing interesting work right now is Impermax Finance — a lending protocol designed explicitly to help users leverage their LP tokens! We’ve covered Impermax as an Alpha Tractor and Farm of the Week before, but those write-ups focused on the project’s L1 Ethereum possibilities. We’re highlighting the lending protocol anew now that it’s live on Arbitrum and offering compelling early L2 yield farms.
  • Farming $IMX on Arbitrum. To farm Impermax’s native $IMX token on Arbitrum, you have to borrow tokens through one of the protocol’s incentivized lending pools on Arbitrum. Out of the gate, then, make sure you’ve added the Arbitrum network to your MetaMask wallet and that you’ve migrated over any tokens you need to the L2 using the Arbitrum Token Bridge (check out this bridging tutorial if you need any help here).

Once you’ve got everything prepped, you can follow these general steps:

  • Identify which Impermax market you want to deposit into. Currently supported markets include SushiSwap’s WBTC/ETH, ETH/IMX, ETH/USDC, ETH/USDT, ETH/SUSHI, and ETH/NYAN trading pairs on Arbitrum. 
  • Deposit into your SushiSwap pool of choice, then navigate to Impermax’s Arbitrum markets with your new SLP tokens in tow. 
  • Select your desired market, press “Deposit”, and select the amount of LP tokens you want to supply as collateral. 
  • After your deposit transaction confirms, you can either use the leverage function or choose which of your supplied tokens you want to borrow (e.g. WBTC, ETH, or both for users of the WBTC/ETH market), and how many you want to borrow.
  • After your borrow transaction confirms, you’ll automatically start accruing $IMX rewards on L2! Track and withdraw your tokens through this same interface whenever you please.

Top-tier Smart Contract Platforms Comperison

That’s it for this week. Thank you for your time. Stay tuned!

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