Recap: DeFi Week of May 11 🦄

Hello Defiers, hope you’re having a good weekend! Summing the past week up: This was a big week for DeFi. ErisX started offering CFTC-regulated ETH futures. Reddit introduced ether tokens to its crypto and Fortnite communities, which together have more than 2 million members. One of the most promising privacy solutions for Ethereum, Tornado.cash, is just steps away from being fully trustless. MakerDAO shut down its Sai stablecoin, while an Ethereum token version of BTC surged into the protocol after being added as collateral. A Grammy-award winning artist launched a tokenized cassette tape, and its price quickly surged above $500. For-profit DAO MetaCartel Ventures announced its first investment. Synthetix founder Kain Warwick wrote a column on why his platform won’t introduce permissioned assets, while Balancer Labs founder Fernando Martinelli explained how his platform allows anyone to create their own index fund, and get paid for it. And there’s even more.

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