🦄 Recap: DeFi Week of Dec. 19
Hello Defiers! Happy Yuletide!
We are pleased to bring you this special Friday edition of the The Defiant Recap in observance of the Christmas weekend. No surprise, there was a lot of action this week.
The market, for starters, demonstrated the resilience we have come to expect (not getting cocky!) from DeFi. Sam Haig reported on Terra’s timely surge this last week, and Brady Dale looked into Terra’s stablecoin, UST, surpassing DAI in market cap. Owen Fernau wrote about how Polygon’s sudden code change sparked quite the furor.
Speaking of jockeying between market leaders, Bored Ape Yacht Club’s floor price briefly overtook CryptoPunks this week. And institutional investors also made a significant move in DeFi: SEBA, a Swiss bank, applied for whitelisting status on Aave Arc, the landing platform’s offering catering to TradFi players.
We were especially excited to see The Infinite Machine movie’s first mint of NFTs sell out in 28 hours, raising $670,000 for production of the film based on the book by Camilla Russo, The Defiant’s founder.
Next week The Defiant will be going dark as we take a break before the New Year. But that doesn’t mean the content will stop! We have prepared a smorgasbord of stories and profiles and market dispatches and lists chronicling all the madness and thrills of this DeFi year. Starting Monday, we’ll be rolling out a series of pieces on the biggest stories, top Defiers, biggest bummers, and what to watch for in 2022.
It’s been an absolute pleasure reporting for all you Defiers this year and we’re so grateful for your support and input! Have a good one! ✊🏼 🍾 🎄 🦄
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Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools at this link.
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The Tube
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📺 First Look: IT ACTUALLY WORKS! Peer to peer encrypted messaging using MetaMask!
📺 Tuesday Tutorial: How to be safer and smarter using Metamask
📺 Quick Take: We fact-checked your favourite millionaire "Finfluencer" - what did we find?
Thursday
Hello Defiers! Here’s what we are covering today,
News
Bored Apes’ Floor Price Briefly Passes CryptoPunks as NFT Race Intensifies
Compound DAO Uses Public Bidding Process To Hire Security Auditor
Transak Launches Fiat Onramps to Top L2s Arbitrum and Optimism
Links
NFT lending platform Arcade raises $15 million in Series A funding: The Block
B.Protocol Raises $2.2M to Backstop DeFi Liquidations: CoinDesk
Binance Will List Convex Finance (CVX) and ConstitutionDAO (PEOPLE) in the Innovation Zone: Binance
YIP-65: Evolving YFI Tokenomics The proposal has entered a voting phase: Yearn Finance
Wednesday
News
Dorsey’s Caustic Tweet Sparks Debate About Who Truly Owns Web3
Aave Advances Institutional Strategy as Swiss Bank Seeks Whitelist Status
Fei Protocol Merges With Rari Capital To Create $2B Liquidity Player
Terra’s Stablecoin UST Overtakes DAI in Market Cap: CoinGecko Data
The Infinite Machine Movie
Links
Play to earn economies as base layer protocols for games: Medium
El Salvador buys 21 Bitcoin to celebrate Dec. 21, 2021: CoinTelegraph
Kraken to Allow a New Way to Earn Crypto Rewards With Staked Acquisition: Kraken
Under Armour Steps Into the Metaverse With ‘Wearable’ Steph Curry Sneakers: CoinDesk
Arsenal adverts for cryptocurrency ‘fan tokens’ banned: The Guardian
The Solana community has taken off in 2021 — and next year promises to be even better: Solana
Here's the 5th of 12 artworks in my new @SuperRare series: SuperRare
Tuesday
News
Polkadot’s Parachain Winners Make Strides in Building Sharded Ecosystem
Opyn to Unveil Squared ETH Token as DeFi Derivatives Race Heats Up
Strip Mall Icon RadioShack Resurrected as a DeFi Play With Token
Links
What made Sam Bankman-Fried launch FTX — and what he now thinks about the world (Part 1): The Block
The Bull Case For ETH III | Anthony Sassano, DC Investor, Cyrus Youness: Bankless
The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups: The New York Times
Monday
News
Polygon’s Surprise Code Change Triggers Questions and Controversy
Market Action: Terra Leapfrogs Binance Smart Chain with Surge in TVL
Links
Stablecoin supply grew by 388% this year, driven by DeFi and derivatives: The Block
DeFi protocol Grim Finance lost $30M in 5x reentrancy hack: CoinTelegraph
We All Need to Stop Only Seeing the Dark Side of Crypto: Wired
💜Community Love💜
Thanking all the amazing Defiers for the support and love this week (and always)!
🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Sanuel Haig, Bailey Reutzel, and yyctrader, and edited by Edward Robinson, yyctrader, Bailey Reutzel, and Camila Russo. Videos were produced by Robin Schmidt and Alp Gasimov. Podcast was 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.