🦍 Ape Diaries: Inside Gasless Yield Farming on Aurora
Hello Defiers! Here’s what we are covering today,
News
ConstitutionDAO Members Decry High Gas Fees After Narrowly Losing Auction
Supply of Terra Stablecoin UST Doubles to $6.49B After Governance Move
Tutorial
Podcast
🎙Listen to this week’s podcast with Nadya of Pussy Riot here:
Video
SuperMassive NFT Show: J1mmy, Kingship and SupDucks' FrankyNines
Keeping it Real: Taproot, Van Eck ETF shutdown and Coinbase NFTs
First Look: Sweep the Floor with Genie | Metaverse Aggregator
Links
Binance Completes Aribitrum One Integration and Opens Layer 2 ETH Deposits: Binance
Chainlink Keepers Now Live on Polygon Mainnet to Automate Smart Contract DevOps: Polygon
$400M funding round to help Gemini build in the decentralized metaverse: CoinTelegraph
Snoop Dogg, Deadmau5 Headline New Members of Outlier Ventures’ Metaverse Accelerator: CoinDesk
It's exciting to announce that @FireblocksHQ has submitted an Aave Improvement Proposal (AIP): Aave
Most Read on The Defiant
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Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at this link.
Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi
Aave, an open-source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets.
Fintech Meetup, join fintech’s largest online meetings event —30,000+ online speed date meetings. Learn More and Get Ticket
DAOs
📜 ConstitutionDAO Members Decry High Gas Fees After Narrowly Losing Auction
NEWS ConstitutionDAO fell short in its bid to purchase the last remaining privately owned first edition print copy of the U.S. Constitution in a public auction held on Nov. 18. And some of the community’s members are grumbling that high gas fees may have been partly to blame.
LAYER 2 Although the community raised about $47M, the document was sold to an unknown bidder for $41M ($43.2M including auction fees). Supporters speculated that the DAO lost because it couldn’t produce enough additional funds to maintain the document. Others said the DAO may have made a stronger bid if it had used a Layer 2 blockchain instead of Ethereum’s mainnet.
AUCTION “The gas fees spent would have made up the difference of winning the auction,” said dennis hegstad, the founder of LiveRecorder founder. This version of the U.S. founding charter is one of thirteen surviving copies printed after the Constitutional Convention of 1787. The late real estate developer Howard Goldman purchased it from Sotheby’s in 1988 for $165,000.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
DeFi Stablecoins
📈 Supply of Terra Stablecoin UST Doubles to $6.49B After Governance Move
DOUBLED The supply of UST stablecoin has more than doubled in the past nine days to reach $6.4B. That places the coin $2B behind DAI, the stablecoin produced by the Maker protocol, as of Nov. 18.
GOVERNANCE Fans of the Terra ecosystem, which produces the UST stablecoin, may need to hold off rejoicing though because the increase doesn’t stem from user demand but rather a governance proposal.
TREASURY Here’s what happened: The governance voted to burn 88.68M LUNA tokens, worth over $3.5B at the Nov. 18 price of $40.21. Those LUNA tokens came from “seigniorage rewards,” which were deposited in Terra’s treasury when users swapped them for UST tokens when demand pushed the stablecoin’s value above $1.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Yield Farming Primer
🦍 Ape Diaries: Gasless Yield Farming on Aurora, NEAR’s EVM-Compatible Blockchain
In which yyctrader walks us through a hot yield farming protocol and interviews Matt Henderson, head of product at Aurora.
YIELD FARM The first yield farm is live on Aurora, an Ethereum Virtual Machine (EVM) compatible blockchain built by NEAR Protocol. The best part? Zero gas fees as a gesture of goodwill to early adopters.
LIQUIDITY Trisolaris is a decentralized exchange on Aurora that launched its liquidity mining program on Nov. 16 and crossed $50M of Total Value Locked in just over a day.
SCALABLE “Aurora is an EVM built on the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users,” says the website.
INTERVIEW We went straight to the source and interviewed Matt Henderson, head of product at Aurora.
👉READ THE FULL STORY IN THE DEFIANT.IO👈
Sponsored Post
Fintech Meetup is fintech's next big event! No Speakers. No Content. Just 30,000+ online meetings so you can meet the fintechs, banks, networks and investors who are driving DeFi and Fintech forward. Learn More & Get Ticket
Fintech Meetup: DeFi x TradFi x 30,000+ Online Speed Date Meetings! Join the next big event in Fintech and for the easiest way to create DeFi & Crypto opportunities, deals and partnerships.
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Online, March 22-24. Qualifying startups can get discounted startup rates. Learn More & Get Ticket
The Tube
📺 SuperMassive NFT Show: J1mmy, Kingship and SupDucks' FrankyNines
📺 Keeping it Real: Taproot, Van Eck ETF shutdown and Coinbase NFTs
📺 First Look: Sweep the Floor with Genie | Metaverse Aggregator
Links
🔗 Binance Completes Aribitrum One Integration and Opens Layer 2 ETH Deposits: Binance
Binance completes the Arbitrum One mainnet integration and has opened deposits for ETH on Arbitrum One Layer 2. Please find your assigned ETH deposit addresses on the Aribitrum One Network in the Deposit Crypto page.
🔗 Introducing Aave Arc: Mirror
Since its launch in January 2020, the Aave Protocol—an open source, decentralized, non-custodial liquidity protocol—has experienced exponential growth with peak liquidity reaching over USD 30 billion, and total active users totaling nearly one million.
🔗 Chainlink Keepers Now Live on Polygon Mainnet to Automate Smart Contract DevOps: Polygon
Polygon is committed to providing developers with the best infrastructure for building secure and fully functional dApps in an accelerated manner. It’s why we integrated both Chainlink Price Feeds and Chainlink VRF to give developers access to time-tested infrastructure for decentralized price oracles in DeFi and secure RNG in gaming and NFTs.
🔗 $400M funding round to help Gemini build in the decentralized metaverse: CoinTelegraph
The Winklevoss twins’ crypto exchange, Gemini, will allocate capital from its $400-million funding round into building a “Gemini experience in different Metaverses.”
🔗 Snoop Dogg, Deadmau5 Headline New Members of Outlier Ventures’ Metaverse Accelerator: CoinDesk
Celebrities Snoop Dogg and Deadmau5, consumer brand guru Shaun Neff and the founders of Sandbox and the Polygon Network are the newest members of Outlier Ventures’ Base Camp Web 3 accelerator and will invest in and advise the program’s startups.
Most Read on The Defiant
ParaSwap Airdrops PSP Governance Token to ‘Active Users’ ParaSwap, a decentralized exchange (DEX) aggregator and market maker, launched its governance token, PSP, on Nov. 15.
OlympusDAO’s Success Inspires Dozens of Forks They say imitation is the highest form of flattery. In crypto, this manifests as forks, or copies of a project’s codebase. In that sense, OlympusDAO must be feeling pretty flattered.
0L Aims To Revive Facebook’s Libra Cryptocurrency With Fair Launch Every now and then folks adjacent to crypto Twitter like to tweet out some version of “Remember Libra?”.
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🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr).