The DeFi analytics team has prepared a summary of the DeFi market, events, and important news that happened during the week. More smart DeFi ideas and memes (of course) – Discord channel and t.me/defimr. Stay tuned!
News
- 1inch announced the launching of Optimistic network, which will help reduce transaction confirmation delays and reduce fees – https://twitter.com/1inch/status/1427647340018556948
- SWIM PROTOCOL + SOLANA. Swim Protocol is a multi-chain liquidity pool built on the basis of Wormhole. Users will be able to interact with the Swim liquidity pool with native tokens in several networks – https://twitter.com/SwimProtocol
- Kava Swap will launch on Aug 30th, and HARD & SWP will function as governance tokens for their respective protocols as well as stores of value – https://t.me/Paradigm_Fund/1447
New Projects
- Apollo DAO is a community-driven organization seeking to increase the experience of farming. Apollo will be the first yield management platform using cross-chain and complex DeFi strategies, exploring NFT gamification and other innovative savings products, and, ultimately, the DAO for capital management “Warchest” is a project fund that will receive 99% of the platform’s income. The exact launch date of the project is unknown, but alpha testing is planned for the near future. Stay tuned in Discord
- Solend is an algorithmic, decentralized Lending & Borrowing protocol based on Solana. Solend has markets for SOL, USDC, ETH, and BTC. New markets will be added soon, and eventually, the listing process will be completely managed by the Solend community.
- Mobox (MBOX) is a new project on Binance Launchpool. Binance announced the 22nd project at Binance Launchpool-Mobox (MBOX). Mobox is a gaming platform that combines automated farming of DeFi profitability and gaming NFTs to create GameFi. Users will be able to place their BNB, MBOX, and BUSD in separate pools to farm MBOX tokens for 30 days, starting from August 20. Supported pools:
- BNB Pool: 2,100,000 MBOX (70%)
- MBOX Pool: 600,000 MBOX (20%)
- BUSD Pool: 300,000 ATA (10%)
- New projects in Solana ecosystem:
- SolBerry – DEX
- Solaris Protocol – Lending & Borrowing
- Solend Protocol – Lending & Borrowing
- Soda Protocol – Lending & Borrowing
- The Solv protocol is a protocol for creating, managing, and trading vouchers – a completely new type of digital asset. Vouchers are financial instruments in the form of NFT. They are designed to optimize the use of DeFi financial instruments. The Solv protocol provides vouchers with its brand new vNFT token standard (short for Versatile Non-Fungible Token) as an advanced infrastructure-improvements to the ERC721 standard to simplify the implementation and programming of advanced financial products. You can find out about the news of the project on Twitter.
- Some interesting protocols of derivatives that are already launched or even going to go BOOM. You have to know about that! Beta.finance, Dopex, and Pods – https://t.me/defimr/28
Earning
- Vesper. Vesper Finance, a comprehensive platform of “easy-to-use DeFi products”. The leading offers of Vesper at the moment are growth pools that offer profitability due to automated storage strategies DeFi + VSP – Vesper’s own token. Vesper’s newest offerings: the recently released USDT and UNI growth pools. Both of these opportunities currently offer an annual return of more than 39% APR! How to farm?
- 1. Buy some USDT and/or UNI
- 2. Go to the Vesper application page.
- 3. Choose a pool at your discretion and put the liquidity!
- 4. Relax
- Lido + Luna. ≈23% APR on ETH. Check it out – https://t.me/defimr/30
- Bumper is a decentralized price protection protocol. The essence of Bumper is simple: the protocol connects recipients( Takers), people who pay premiums to protect their ETH from falling prices, and liquidity providers(Maker), who provide liquidity in stablecoins in exchange for receiving bonuses + a reward token. Bumper officially launches its BUMP management token in November 2021. Meanwhile, the project offers a liquidity mining program in which you can earn a BUMP in advance at an attractive rate if you are ready to lock your funds until October 14! How to farm?
- 1. Go to the Bumper
- 2. Enter how much USDC you want to supply
- 3. Confirm the transaction.
Just remember that there is the aforementioned deposit lock-up period until October 2021, so if you put up liquidity, you will not have access to funds for several weeks.
- BondAppetit owns corporate bonds that are held in Wise Wolves Finance, a licensed Cyprus company. You can check their presence in real-time – the data is signed with a digital signature, which eliminates the possibility of their substitution. No stablecoin with fiat collateral has such transparency;
Secondly, thanks to real assets, loans in $USDap can be obtained under much less collateral than the already familiar to us in Maker, Unit, Inverse, and other DeFi protocols with their 110-300%. What is important is that it will be possible to exchange USDap for USD by transferring it to a bank account, after passing KYC/AML;
Thirdly, in the near future, the protocol will begin to distribute the income from the bonds to the holders of the $BAG token, which is just beginning to respond to the upcoming supply shortage. Those who have stuck it for 12 months will receive a yield of about 15%, plus, I believe, a significant increase in the price of the token.
Farmers also have something to profit from: the distribution of the token through liquidity staking is still ongoing, a stable USDap-USDC pair can get a yield of 56%, and this is at the current price of $BAG, whose capitalization is only $2.5 million. For native pairs – up to 100%, but remember about IL.
That’s it for this week. Thank you for your time. Stay tuned!
