DeFi News Digest: 17 – 23 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 significant drop last week as the total value locked (TVL) in DeFi projects fell from $237.34 billion to $194.17 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 4,390,311. 

DeFi Market Cap: $138,994,283,409

DeFi Pulse Index: $156.53

L2 Solution overview 👌

TVL: $5.32  billion

DeFi News 👾

  • Privacy-focused blockchain Secret Network announced $400M accelerator pool

  • DEX aggregator 1inch Protocol deployed on Avalanche and Gnosis blockchains

  • Crypto staking platform Stader Labs raised $12.5M in strategic sale

  • Aave Arc will launch on Layer 2 rollup networks Optimism and Arbitrum

  • Osmosis DEX expands to Ethereum with Gravity Bridge

  • Twitter enables ownership verification of profile picture NFTs 

  • Solana-based DeFi protocol Hubble raised $10M and prepares for mainnet launch

  • OpenSea acquires DeFi protocol Dharma Labs for an undisclosed amount

Videos 🖥

  • From Bitcoin to DeFi (in 12 Short Years)

Even if you’ve been living under a rock, you’re probably familiar with Bitcoin. Now, just as crypto disrupted the concept of value, decentralized finance is poised to disrupt finance itself. The populist movement promises huge returns for daring investors. But with DeFi’s promise of inclusion comes risk and uncertainty.

  • How to View & Download DeFi Transaction History (Taxes Fast & Easy!)

Earning 💵

Yield farming pools from Defiyield

Additional useful content❤️

  • Top DeFi Derivatives Projects on L2
  • How to Stay Safe from Scams

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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