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 News
- Compound Finance Pays Out Millions in Excess COMP After Buggy Update.
- There are now 3 DeFi protocols generating over $100 million in annualized revenue. In the past month DYDX revenue has rocketed to just under $500 million annualized. Across the board incredible traction.
- Wiretap Wednesday: Zk Scaling w Hermez Network
Andy and Rob interview Jordi Baylina, the technical lead for Hermez, a decentralized zkRollup focused on scaling payments and token transfers on top of Ethereum. We get to hear Jordi’s thoughts on the merger between Polygon (formerly Matic) and Hermez, the current developments on zk-SNARKs and it’s broader implications to the DeFi ecosystem as well as how Hermez network has been developing the tooling to create an EVM compatible ZK-Rollup for scaling dapps.
- “ETH and Most DeFi is Trading Cheaper Than Web2 and With Better Growth:” VanEck’s Matthew Sigel. Decentralized finance has captured only 5% of the crypto space, according to CoinGecko, but it has seen massive growth recently. There was $93 billion worth of DeFi assets in the crypto market as of June 2021, up from $4 billion just three years ago. To be sure, DeFi’s growth has slowed since the summer of 2020, and regulatory scrutiny from Capitol Hill has spiked over fears of crypto’s checkered past.
- Have a look at the latest post from Chris! New DeFi farming pools: Avalanche
1 – Beefy.finance
Using farming aggregator as Beefy you can forget of rebalancing your rewards at all. Beefy works as a vault that get the rewards from your liquidity and swap them to your LP tokens. There are a lot of farming opportunities:
– USDC-AVAX – 151.79% APY
– USDT-AVAX – 161.73% APY
– WETH-AVAX – 87.63% APY
– USDC-USDT – 22.29% APY
– BNB-AVAX – 150.56% APY
In order to provide the liquidity for these pairs you have to use the following projects:
2 – Autofarm
It works in the same way as Beefy. Check the pools:
– QI – 123% (Benqi) APY
– WAVES-USDT.e – up to 158.52% APY
– WAVEX-WBTC.e – up to 55.01% APY
3 – Iron.finance
– IS3USD (USDT+USDC+DAI) – 26% APY
– IronICE-AVAX – 1442% APY
4 – Vee
– VEE-AVAX – 587% APY (9k liquidity only
– VEE-USDT.e – 393.41% (14k liquidity only)
Be cautious, having such a large APY depends on the amount of liquidity in each pair. That’s one of the big risks you have to focus on. Check our complete guide to DeFi Risks
Yep, it’s not like BSC with a ton of farming projects but the Avalanche ecosystem has a big potential to disrupt the market.
- Yeld review | FARM THEM ALL (from Moni)
❤️ Additional useful content
👍Meme of a week
That’s it for this week. Thank you for your time. Stay tuned!