DeFi News Digest: 10 – 16 January

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 🤟

The decentralized finance market saw a small recovery last week as the total value locked (TVL) in DeFi projects increased from $231.13 billion to $237.34 billion.

Data from Dune Analytics reveals that the number of decentralized finance (DeFi) users continues growing and hit a new all-time high of 4,358,959. 

DeFi Market Cap: $143,965,536,068

DeFi Pulse Index: $251.74

L2 Solution overview 👌

TVL: $6.80  billion

DeFi News 👾

  • OpenDAO is building an NFT prediction market and bespoke blockchain

  • dYdX announced the plans to fully decentralize in 2022
  • DeFi Alliance becomes ‘Alliance DAO’ after $50M raise from 300 Web3 leaders

  • Near Protocol raises $150M from major investors to promote Web3 adoption

  • Citadel Securities takes in $1.15B investment from Sequoia and Paradigm

  • 0x API launches on Optimism to onboard a new wave of users to crypto

  • First DEX on Oasis Network hits $100M TVL in 24 hours

  • LooksRare launches NFT marketplace with token Airdrop for OpenSea users

Videos 🖥

  • Web 3: The Future or All HYPE? What You Need To Know!

  • Avalanche Crypto Defi Tutorial: Earn Big Yields on Trader Joe

  • Fantom Crash Course | Intro To DeFi on Fantom. Setting Up a Wallet, Buying FTM, and More!

Earning 💵

Yield farming pools from Defiyield

Yield review | from Moni

  • An introduction to the Cronos blockchain can be started by throwing your stables on yAxis.
  • Single-asset mining is safer but less profitable. However, there are more and more attractive strategies every time on

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. Always DYOR.

Meme of the week 👍

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