DeFi News Digest: 24 – 30 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 drop last week as the total value locked (TVL) in DeFi projects fell from $194.17 billion to $187.77 billion.

Data from Dune Analytics reveals that the number of decentralized finance (DeFi) users has hit a new all-time high of 4,317,725. 

DeFi Market Cap: $103,174,020,248

DeFi Pulse Index: $179.75

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 👌

TVL: $5.46  billion

DeFi News 👾

  • Multichain DApp protocol Astar raised $22M in the latest round led by Polychain

  • Fantom becomes the third-largest DeFi protocol by value locked. Learn more about Fantom in this article

  • DeFi protocol Qubit Finance exploited for $80M or 206,809 Binance Coins

  • BitDAO launches $200M zkDAO to advance Ethereum scaling via zkSync
  • Ethereum hash rate scores new ATH as PoS migration underway

  • Axie Infinity devs released governance token for Ronin Blockchain

Videos 🖥

  • Top Fantom & Terra DeFi Farms with Insane APY’s For February! 

  • What to do in Bear Market?

💵 Earning

Yield farming pools from Defiyield

Additional useful content❤️

  • 2022 Will Be The Year Of The DAO, But Practical Challenges Remain

  • ​​Top 15 DApps By Active Users In January

  • 2022 The Year of The DAO w/DxDAO

  • MetaMask Swaps: The Optimized DeFi Trading Experience

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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