DeFi Market Cap: $110,984,801,399
DeFi Pulse Index: $175.38
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.
The Total Value Locked in Ethereum Layer2 systems: $5.87 billion
Lens Protocol – the Metaverse’s first true social layer
Lens Protocol is a new attempt at creating a decentralized Web3 social graph reimagining the way we connect through social networking. Rather than requiring apps to onboard users and scale as more join, it devolves that process to the network itself and simply asks app developers to build on top of the user base. The value to users lies in the apps, the value to apps lies in the users. More apps is good for everyone. So, no one ring to rule them all, but an ecosystem that scales more organically. From the team that brought you Aave.
No liquidation, squared leverage!? Squeeth is nuts!
Squeeth is short for Squared Eth. It’s a new power perpetual from Opyn allowing users to benefit from convexity when going long ETH. Long squeeth (ETH²) gives you a leveraged position with unlimited upside, protected downside, and no liquidations. Compared to a 2x leveraged position, you make more when ETH goes up and lose less when ETH goes down (excluding funding). Eg. If ETH goes up 5x, squeeth goes up 25x. You pay a funding rate for this position. There’s also a Short Eth option as well as automated strategies to help take some of the pain out of managing your positions.
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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.