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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
- Gamers Could Normalize The World To Decentralized Apps. Play-to-earn games have become more than relevant for the blockchain industry, with the number of users increasing exponentially, according to a recent report released by the Blockchain Game Alliance (BGA) and dapp information provider DappRadar. They may be the key to reaching mass adoption, while outpacing decentralized finance (DeFi) and non-fungible tokens (NFTs). The demand for blockchain-powered play-to-earn games led to unique active wallets expanding by 121% to more than 804,000 unique users.
- Risk Harbor launches first-ever automated cross-chain smart contract risk and depeg protection for Anchor and UST on Ethereum. Risk Harbor is a risk management marketplace for decentralized finance (DeFi) that utilizes a completely automated, transparent, and impartial claims process to protect liquidity providers and stakers against smart contract hacks and attacks.
- Who Decides DeFi’s Destiny? Decentralized finance (DeFi) adoption has been primarily driven by experienced cryptocurrency traders and investors which explains why its adoption is more visible in high-income countries which benefit from established cryptocurrency user bases, according to a recent report by blockchain analysis company Chainalysis. The top ten countries include the US, Vietnam, Thailand, China, the UK, India, the Netherlands, Canada, Ukraine, and Poland, respectively. This contrasts with the findings of this year’s Crypto Adoption Index in which the top ten spots were taken almost exclusively by countries with predominantly low to medium gross domestic products (GDPs), namely Vietnam, India, Pakistan, Ukraine, Kenya, Nigeria, Venezuela, the US, Togo, and Argentina, respectively
- Liquidity Mining Rewards v2
- Solana-based data oracle Pyth Network is going live
New projects
- Gearbox is a generalized leverage protocol: it allows you to take leverage in one place and then combine it between different DeFi protocols and platforms. This could be:
- Margin trading on Uniswap and Sushiswap;
- Leverage in farming on Yearn;
- Arbitrage linked assets on Curve and more!
All transactions and operations are carried out using third-party protocols: Uniswap, Curve, Yearn, etc. Gearbox is not a trading platform. The protocol does not execute trades and does not have its own book orders. We know that you are interested in the project, so we recommend that you familiarize yourself with the Medium of the project, also follow our Twitter!
- The Enso platform allows you to create an unlimited number of strategies that include all ERC-20 tokens available in the DeFi ecosystem, as well as the integration of yield farming allocations. All of this is achieved through a simple and intuitive user interface that allows you to find and create strategies and meta – strategies by following or following other traders and combining strategies together, regardless of your level of DeFi experience. A very interesting project, you can follow the updates on their Twitter.
- Lyra Finance, the first full AMM Options for DeFi.
AMM Lyra actively hedges the delta risk incurred in LPs by making spot markets in DeFi for the underlying asset. Vega risk (volatility) is quantified and forms the basis of the fee structure to stimulate risk-mitigating trades. These innovations increase alpha and sharpe AMM.
More details can be found in the official document of the project. In a long cycle, an increase in Alpha results in more liquidity, more volume movement, and more reward for the protocol.
- Saffron V2 pre-announcement. The following pools (unaudited) are set for release in beta within 7–10 days with deposit caps:
- SFI/WETH (Sushiswap SLP) autocompounding on DinoSwap with senior tranche (50% coverage target); junior tranche (+20% yield target)
- DINO/WETH (Quickswap LP) autocompounding on DinoSwap with senior tranche (50% coverage target); junior tranche (+20% yield target)
- The classic DAI lending on Compound with senior tranche (20% coverage target); junior tranche (+285% yield target)
- WBTC lending on Compound with senior tranche (20% coverage target); junior tranche (+285% yield target)
- USDC lending on Compound with senior tranche (20% coverage target); junior tranche (+285% yield target)
- USDT lending on Compound with senior tranche (20% coverage target); junior tranche (+285% yield target)
Videos
- Navigating Avalanche Rush Yield Farming Using Avax Bridge (Insane Pumps & 1000%+ APYs)
- DeFi Summer 2.0: Avalanche Rush Liquidity Mining on BENQI
Earning
- Farm up to 321% APR via the first Dopex yield farms! Decentralized options protocols come in all stripes these days, but most can’t offer yield farmers triple-digit APRs right now. One that can, though, is Dopex. Dopex is an options protocol that’s eyeing the public launch of the Arbitrum layer-two (L2) scaling solution to really strut its stuff. That launch is just days away at this point, but Dopex has already launched some initial infrastructure on the Ethereum mainnet both for bootstrapping and for distributing the project’s DPX governance token. Before diving further into DPX rewards, let’s briefly cover the basics of Dopex:
- How to farm DPX? The Dopex team is currently running a liquidity mining program around three initial pools: single-sided DPX staking (17.7% APR), DPX/ETH Uniswap V2 LP token staking (219.3% APR), and rDPX/ETH Uniswap V2 LP token staking (321.45% APR).
- If you’re keen on trying out any of these yield farms, supply DPX (and/or rDPX) and WETH to your Uniswap V2 pool of choice if you’re opting for one of Dopex’s two LP farms.
- Then just navigate to the Dopex Farms page and stake your DPX or LP tokens through your selected interface. Remember, you’ll have to allow Dopex to spend your funds with an approval transaction before you fire off your final staking transaction!
- Defiant Degens: How to Earn Up to 16.5% Interest with Stablecoins on Orion Saver
- From Moni
- Low Risk. It’s a good way to make your stablecoins work, because they’re too lazy to do anything, they’re just lying…come here quickly!
- Medium Risk. Rumour has it, the YGG dudes will soon be feeding half the Philippines with their P2E payments. DYOR and get involved here.
- High Risk. Just go here and look at the rewards. Do you like it? (Warning! Such farming is dangerous to mental health! Contraindicated for children and nursing mothers!)
That’s it for this week. Thank you for your time. Stay tuned!
