DeFi News Digest: 04 – 10 April

The Midas 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 and Telegram channel. Stay tuned!

DeFi Overview 🤟

According to DeFiLlama, the total value locked (TVL) in DeFi projects: $217.63 billion

Despite the DeFi market drop, Dune Analytics data shows that the number of decentralized finance (DeFi) users is rapidly growing and hit a new all-time high of 4,605,428. 

DeFi Market Cap: $126,384,302,237

DeFi Pulse Index: $178.28

The DeFi Pulse Index is a capitalization-weighted index that tracks the performance of decentralized financial assets across the market. Underlying tokens: UniSwap, Loopring, Aave, Maker, Yearn, Compound, Sushi, Synthetix, REN, Rari Capital, Balancer, Badger, KNC, Farm, Instadapp, Vesper and meta.

L2 Solution overview 👌

The Total Value Locked in Ethereum Layer2 systems: $6.74  billion

DeFi News 👾

  • Grayscale DeFi Fund rebalances to Avalanche, Polkadot, Cosmos

  • MetaMask update allows Apple Pay users to buy crypto
  • Yearn​.finance advocates for the adoption of ERC-4626 tokenized vault standard

  • Terra buys $200M in AVAX for reserves as rival stablecoins emerge
  • 4,436 ETH destroyed in single hour hit record levels

  • Coinbase to invest $1,000,000 in Indian crypto and Web3 amid tax regulation clarity

Videos 🖥

  • The Best Ethereum Merge Explainer

The Ethereum Merge is the biggest story in town right now as the fruit of tireless core developers’ labour receives its final preparations before taking its place as the centrepiece of an enormous blockchain banquet. Will it blend seamlessly or will it burst asunder and make a horrible mess of everything?

  • CNBC’s full interview with Cathie Wood on crypto outlook, regulation and DeFi

CNBC speaks to ARK Invest CEO Cathie Wood at the 2022 North American Bitcoin Conference in Miami. Wood addresses the potential for bitcoin, the future of crypto regulation in the U.S. and more.

Earning 💵

Top stablecoin pools from Defiyield

  • Starlay with 110.78% Annual Yield
  • Kagla Finance with 83.95% Annual Yield
  • Symbiosis with 69.17% Annual Yield

Additional useful content❤️

  • Report: DApp daily users surge to 2.4M in Q1 2022

  • Five Tips to elevate your DeFi research

Meme of the week 👍

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.

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