Recap: DeFi Week of May 4 🦄
|May 10|| 2|
Hello Defiers, hope you’re having a good weekend!
Summing up the past week: Some of DeFi and Ethereum’s biggest names, including Vitalik Buterin and Joe Lubin, spoke at the Ethereal Summit. MakerDAO introduced WBTC as collateral. Near launched the first phase of its mainnet into a crowded “Ethereum Killers” space. Synthetix and Optimism partnered up to create a decentralized exchange to demo Layer 2 scaling. The personal token space is heating up. DeFiZap and DeFiSnap merge to launch a portfolio manager with increased functionality.
That was just one week. Subscribe to get the latest DeFi news and analysis straight to your inbox and you don’t miss a thing. Free-signups get partial content, paid subscribers (only $10/month, $100/year) get everything. Click here to pay with DAI ($70/year).
🐦Reminder to follow @DefiantNews on Twitter if you haven’t!
🙌 Together with Eidoo, a cryptocurrency-powered debit card and platform for easy access to decentralized finance.
“There’s a Role for Ethereum as a Permissionless Platform for Central Bank Digital Currencies:” Vitalik Buterin
Vitalik Buterin, the creator of Ethereum, talked about the possibility of ether becoming the global reserve currency in a world which has lost trust in national currencies and Ethereum becomes the “glue” between nations, in an interview at the Ethereal Summit. He also talked about DeFi apps he uses and those he wishes there were more of. He said talking about tokens primarily as governance vehicles is “wrong-headed,” and that it’s inevitable that Etheruem dapps will lose some composability when communicating between shards in Eth2. He also said we’re only a few months away from the launch of Eth2’s phase 0.
NEAR Protocol Joins Crowded Ethereum Killers Party: The Ethereum killer space is getting crowded. The latest one to join is NEAR protocol, which launched its mainnet this week.
Loopring Paused Exchange After Finding Bug: Loopring temporarily paused trading after finding a critical frontend bug.
SNX Link making it Easier to Use Synthetix Platform: DeFi project SNX Link, which built an interface to use the Synthetix exchange, launched a feature which automatically adjusts users’ collateral ratios.
Synthetix Demo is Latest Step To a Scalable Ethereum: Derivatives protocol Synthetix and research group Optimism have teamed up to test the cutting edge technology that “optimists” say will help Ethereum scale.
Synthetix On-Chain Markets Update by IntoTheBlock: The SNX token is used as the collateral powering the Synthetix network in the Ethereum blockchain. Its transactions have grown significantly over the past month.
Personal Tokens Space Heats Up With $KERMAN: Kerman Kohli is using the Roll platform to sell tokens, with the goal to raise $30,000 with 15% of the total token supply.
PayPal Axes RealT But Crypto Saves the Day: PayPal blocked payments to tokenized real estate platform RealT without warning showing exactly why a censorless financial system matters.
MakerDAO Adds WBTC As Collateral for Dai: MakerDAO on Sunday started accepting WBTC as collateral against Dai loans as it seeks to increase liquidity and diversification in the assets backing the stablecoin.
DeFi10 Update: Portfolio is Up 10% Since January: The DeFi10 portfolio recovered from its March slump and is now up 10%, beating its benchmark, the MakerDAO’s deposit rate. It’s also beating US stocks and junk bonds, which are both down, but is underperforming ETH.
DeFiZap and DeFiSnap Merged to Create Zapper: DeFiZap and DeFiSnap merged to create asset management platform Zapper. The merger of the two aims to provide a portfolio tracker with added functionality.
Thanking all the amazing Defiers for the support and love this week (and always)!
Bradley Miles @Bradley_Miles_Excited to finally start jamming with the @UnlockProtocol team. Julien's always thinking through ways to bring more economics to digital communities. Have some $CAMI? You can use it to unlock content across the web! Same goes for any #socialmoney https://t.co/cEPCSylpN2 https://t.co/5rwyOr3DV3
The Defiant @DefiantNewsIn today's Defiant: 🎙️@VitalikButerin talks ETH in times of crisis, DeFi and Eth2 at @EtherealSummit 🎉@NEARProtocol launches first phase of mainnet into crowded Eth competitor space ✌️@SnxLink making it easier to use @synthetix_io +more👇 https://t.co/ZnOyAiDHKm
The Defiant @DefiantNews☄️"Blockchains are an extinction-level event," says @el33th4xor . 🦕"They're an asteroid in the sky and there are a bunch of dinosaurs on the ground with names like Charles Schwab and Swiss Re." Interview👇 https://t.co/pSY2kGnUQd
Camila Russo @CamiRusso🌈magic money swag!!🧢 You read The Defiant, now you can wear* it too @DefiantNews collab with @nicuzcrypto (video better w sound on :)) 🔥come get it! https://t.co/uhU2f9iYoY https://t.co/fPKC3X57A7
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 at $10/month or $100/year, while free signups get only part of the content.
Click here to pay with DAI.There’s a limited amount of OG Memberships at 70 Dai per annual subscription ($100/yr normal price).
About the author: I’m Camila Russo, a financial journalist writing a book on Ethereum with Harper Collins. (Pre-order The Infinite Machine here). I was previously at Bloomberg News in New York, Madrid and Buenos Aires covering markets. I’ve extensively covered crypto and finance, and now I’m diving into DeFi, the intersection of the two.