This Week in DeFi – April 15


To the DeFi community,

This week Uniswap Labs announced risk unit, which will invest in promising web3 projects. Uniswap Labs also plans to actively participate in the governance of the projects in which it invests. Unrelated to the risk unit, Uniswap also released a widget this week to make it easier for users to trade tokens on the web. The widget is already available on OpenSea, Oasis and FWB.

Near Protocol could take market share from UST, setting an April 20 launch date for its new USN stablecoin – with an interest rate of around 20%. The project appears to be modeled after Terra’s stablecoin and Anchor UST protocol, which offered similar incentives until recent changes to sustainability.

Centralized crypto lending platform Nexo has launched the first crypto-funded bank card that allows users to spend crypto without selling it. Instead of selling the crypto directly to fiat during a purchase, the back-end of the card instead borrows fiat against the crypto used for the purchase.

The Volt protocol has raised $2 million for an “Inflation Resistant Stablecoin” – perhaps the first such innovation. Volt’s stablecoin will track the CPI-U consumer price index, via a Chainlink oracle.

Central banks have continued to move closer to crypto over the past week, with a very interesting notion introduced by the Bank for International Settlements (BIS): “Does safe DeFi require CBDCs? “. An integration of CBDCs (central bank digital currencies) into the DeFi world as we know it would present a fascinating mix of two antithetical worlds, but also open up some very exciting possibilities. Imagine a DeFi world where no fiat gateway is required – just send your daily CBDC dollars to a smart contract and start lending or producing instantly.

Of course, it might not be that simple. In all likelihood, governments will attempt to keep CBDCs on a leash, either by whitelisting “decentralized” apps to allow CBDCs to be integrated as they see fit, or by other means. In any case, it will be a strange concept to see the traditional financial system spill over into DeFi – in any capacity.

Perhaps inevitably, we will end up with two separate crypto ecosystems: A walled, government-sanctioned “DeFi” ecosystem that captures CBDC activity and verified wallets. On the other hand, we will have the far west of DeFi, where anything goes – and without central bank influence. While “mainstream” finance and real crypto may become more similar than ever, there is also likely to be an increase in disconnection between the two worlds, as CBDCs shut down more real crypto gateways than they do. do it today.

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Highest returns: Nexo Lend at 8.55% APY, BlockFi at 8.50% APY

Cheapest loans: Celsius at 1.00%, Aave at 3.50% APY

ManufacturerDAO Updates

AID Savings rate: 0.01%

Basic fees: 0.00%

ETH Stability Fee: 0.50%

USDC Stability fee: 0.00%

WBTC Stability Fee: 0.75%

Highest returns: Nexo Lend at 8.55% APY, BlockFi at 7.76% APY

Cheapest loans: Celsius at 1.00%, Aave at 3.46% APY

Total value locked: $76.67 billion (down 3.90% since last week)

DeFi Market Cap: $120.94 billion (down 11.49%)

DEX Weekly Volume: $18 billion (up 5.88%)

AID Provide: 8.79B (down 2.01%)

[Uniswap Team – Uniswap Blog] – Uniswap Drop Swap Widget

[Jordan Finneseth – Cointelegraph] – Indicators flash higher on COTI ahead of the launch of its mainnet and stablecoin Djed

[Cameron Thompson – CoinDesk] – DEX Aggregator 1inch expands to Fantom Network

[Osato Avan-Nomayo – The Block] – Ethereum Push Notification Service Raises $10M in Series A Funding


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