DeFi News Digest: 9 – 16 May

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. 

DeFi Overview 🤟

According to DeFiLlama, the total value locked (TVL) in DeFi projects: $112.60 billion

Despite the DeFi market drop, Dune Analytics data shows that the number of decentralized finance (DeFi) users is growing and hit a new all-time high of 4,723,660. 

DeFi Pulse Index: $100.42

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 and Farm.

L2 Solution overview 👌

The Total Value Locked in Ethereum Layer2 systems: $5.07  billion

DeFi News 👾

  • dydx released a mobile app for iOS

  • Ref Finance introduced the latest feature Liquidity Aggregation

  • Tron launched Stablecoin USDD on Multichain (AnySwap)

  • Bancor v3 is live with impermanent loss protection for LPs

  • Aurora launched $90 million developer fund to boost DeFi on NEAR Protocol

  • Sushi is live on Optimism, Layer 2 scaling solution for Ethereum

Earning 💵

Top stablecoin pools from Defiyield

  • Beefy Finance with 42.09%  APY

  • Aurigami with 40.52% AP

  • Beethoven with 19.00% APY

Additional useful content❤️

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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