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
TVL: $4.07 B
+7.03% / 7 days
👾 DeFi News
- Earn 200% APY Farming On SushiSwap (CELO Bridge Tutorial).
DeFi Slate Fam:
Multichain is the trend these days. With various liquidity mining programs for various blockchains being announced left and right, it’s easy to miss track of things. One of these chains in particular is Celo which announced a $100M incentives program with the goal of onboarding the next 1 billion users to DeFi.
Today, Andy gives us a tutorial of how to get started on Celo through the Optics Bridge, the various yield opportunities on Sushiswap (close to 100% APY on stables), a brief look at Ubeswap and how nascent the Celo ecosystem still is. Coupled with the incentives program and Celo’s focus on building mobile-first applications, this sets up an interesting narrative that could indicate a ton of potential growth in the near future.
- Acala’s liquid tokens – the great DeFi unlock.
Acala, the Ethereum-compatible DeFi and liquidity hub of Polkadot, has launched Liquid Crowdloan DOT (lcDOT) ahead of its upcoming crowdloan event. The product joins Acala’s suite of derivative products including its recently launched KSM Liquid Staking product (LKSM), now available on Karura, as well as DOT Liquid Staking (LDOT), which will launch on Acala.
- EXTRA – A New Era for DeFi | Scoopy Trooples of Alchemix.
Alchemix v2 is on the horizon, which will allow for much more composability and integration with the rest of DeFi, as well as introducing new means of collateral such as LUSD and MIM. Scoopy also details plans for Layer 2 and Cross-Chain launches.
The second half of the conversation turns to DeFi 2.0, which Scoopy outlined in this epic twitter thread. This new generation of DeFi projects introduce a new primitive for bootstrapping liquidity and capital to a protocol, which traditionally has been achieved via incentivized liquidity pools.
This new model allows protocols to purchase LP positions and accrue value more sustainably, discouraging mercenary capital that leaves when rewards taper off. Scoopy brings big ideas and digestible explanations to this complicated topic, contextualizing what may become a new era for DeFi.
Scoopy Truples from Alchemix returns to Bankless to update us on what lies ahead for the protocol, and more broadly, the DeFi ecosystem.
- Have a look at the post from Chris.
You don’t even need to lock your $DOT for 2-year liquidity participating in Polkadot parachains auctionswhy?
Acala launched Liquid Crowdloan DOT ($lcDOT), which has 1:1 ratio with $DOT:
– you contribute $DOT to the Crowdloan Vault managed by Acala
– Receive $ACA tokens, your share of the network.
– Receive $icDOT, a liquid token representing your locked DOT
– Swap or use as collateral to mint aUSD
– After 2 years, you can use $icDOT yo redeem your locked $DOT
Price: 1DOT ≈ 9.99928098 $icDOT
What magic, ACALA!
only one thing that stops me from contributing my $DOT was locking $DOTs for 2 years. But Acala solved this problem.
- DeFi Pulse Power Tool:
Pickle’s Ethereum Pastures.
In last week’s column, we covered the next-gen Arbitrum Jars of Pickle Finance. Yet the project’s Ethereum yield farms are also seriously blooming lately, so this week we turn your attention to 5 compelling Pickle pastures on mainnet. These farms are as follows:
Remember, Pickle Finance is a yield aggregator whose Pickle Jars compound depositors’ returns via cross-protocol yield strategies. The idea is to automatically and passively reap interest from top DeFi opportunities.
Head over to the Pickle Jars to start yield farming on Ethereum, Arbitrum or Polygon today! More on their Polygon farms next week.
- Farm up to ~87% APY in Curve’s mUSD pool!
Curve’s mUSD pool, which is composed of liquidity from mUSD & 3CRV tokens, is a low-risk yield farm with potentially high returns. Here’s what you need to know!
Right now, this liquidity pool is offering a 1.3% base APY. But not so fast, don’t turn away just yet: this pool’s also offering up to 86.67% APY in boosted CRV rewards, which is impressive returns for a stables farm.
To join in, make sure you have some mUSD or the stables of 3CRV first. Then head over to the mUSD pool and if you want to optimize your returns select the “Deposit and stake in gauge” option.
🐣 #twitter gems seeking (a new topic from Chris — finding alpha in DeFi)
❤️ Additional useful content
👍Meme of the week
That’s it for this week. Thank you for your time. Stay tuned!