DeFi News Digest: 31 January – 6 February

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 started recovering as the total value locked (TVL) in DeFi projects increased from $187.77 billion to $220.53 billion. But it’s still $50 billion away from its ATH.

Dune Analytics data shows that the number of decentralized finance (DeFi) users is rapidly growing and hit a new all-time high of 4,345,311. 

DeFi Market Cap: $117,817,998,199

DeFi Pulse Index: $202.79

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: $6.11  billion

DeFi News 👾

  • DeFi infrastructure provider Qredo raised $80M at $460M valuation

  • ConsenSys acquires MyCrypto to strengthen MetaMask partnership and enhance Web3 Experiences

  • Wormhole cross-chain bridge exploited for $320 million

  • Dune Analytics raised $69.42 million in Series B round, and now valued at $1 billion

  • First cross-chain governance proposal passes on Aave

  • 1inch network introduced Earn, a new liquidity pool optimized for Stablecoins

Earning 💵

Yield farming pools from Defiyield

  • ProtoFi: MAI/DAI – 72.15% APY
  • Hubble Protocol: USDH- 53.05% APY
  • Moremoney: MONEY/DAI.e/USDC.e/USDT.e – 47.60% APY
  • Creditum: cUSD/agEUR – 21.73% APY
  • Quarry: USDH/CASH – 41.20% APY

Additional useful content❤️

  • Hodlers beware. New malware targets MetaMask and 40 other crypto wallets

  • ​​Top 15 DApps by active users in January
  • Crypto leverage vs. crypto derivatives

  • MetaMask Institutional launches DeFi and Web3-focused dashboard

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.

Leave a reply:

Your email address will not be published.

Site Footer