To the DeFi community,
This week, Aave announced plans for more robust cross-chain governance as the Ethereum community supporting the initial Aave framework branch out to other chains and L2 solutions. The announcement was also paired with news that Aave will open source the Aave UI, allowing anyone around the world to contribute to, utilize, and spin off from the existing interface.
Aave released cross-chain governance module that enables multi-chain protocol governance.🔥
also feat. open sourcing the Aave user interface to decentralize the development of the user experience 👻 https://t.co/PT9t327Uui
— stani.jpg (👻,🐻❄️) (@StaniKulechov) August 26, 2021
Sushiswap joined the Avalanche Rush project, with the two protocols pledging $7.5 millon each for liquidity mining incentives for AVAX and SUSHI pairs over a three month period, with the exact starting date to be announced soon. Sushiswap has now been deployed on 20 blockchains, making it easily one of the most prolific DeFi partners in the industry.
Just in time for @SushiSwap‘s 1st birthday.
It’s incredible to see a community-centric project find success. It just goes to show how decentralized tech can maximize collaboration.
$15M is now committed to #AvalancheRush thanks to Sushi and #Avalanche! https://t.co/1QoG37pHKC
— Emin Gün Sirer🔺 (@el33th4xor) August 24, 2021
Pyth Network launched its mainnet beta, bringing oracle pricing data for more than 30 assets including cryptocurrencies, traditional equities, commodities, and fiat currencies to the Solana blockchain. Pyth has partnered with dozens of institutional data providers to deliver accurate pricing data, with updates every 400ms and many more assets to come.
Since our introduction to the world, now more than 4 months ago now, we are ecstatic to finally release this new oracle solution to the @solana mainnet and enable any builders to leverage HiFi price feeds to build the future of finance!🎉🥳https://t.co/gQjbWwWSUb
— Pyth (@PythNetwork) August 26, 2021
And Ribbon Finance announced the Ribbon V2 launch, bringing greater decentralization to and governance controls to options-strategy vaults. The transition to V2 will be gradual as many features are highly experimental, with initial V2 vaults rolling out with conservative caps on investment and a limited access testing period.
Today we are super excited to announce Ribbon V2 🎀
Ribbon V2 is a huge improvement to the current vaults, and introduces a bunch of new exciting features 👇 https://t.co/rU2IDMuXxZ
— Ribbon Finance (@ribbonfinance) August 23, 2021
After years of waiting in the wings, crypto is now fully in the spotlight of US legislators and regulators as DeFi and crypto capital markets continue to rapidly expand. It’s also forcing ‘decentralized’ finance protocols to take their governance and accessibility more seriously, after regulator callouts noting that in some aspects, including front-end UI access and token distribution structures, many projects are still highly centralized.
There are a variety of approaches to avoiding the wrath of regulators and DeFi protocols continue to raise funds and scale, from changing jurisdictions to open sourcing large swathes of previously proprietary code to reduce central points of failure. But in the long run, new regulations are bound to emerge, and even fully decentralized protocols will likely need to interact with regulatory structures in some way.
The situation can seem intimidating, but the potential for abuse through money laundering, financing bad actors, and manipulation by malicious market participants is too great to ignore. Plus, institutions will never get involved in a meaningful capacity without regulatory blessings.
The process will take years or decades, and the successful blue-chip protocols of today are the most likely to succeed at becoming truly integral parts of the global economy. And, there will always be crypto innovation on the bleeding edge of technology and creativity where the adventurous can play, learn, and gamble. Just don’t invest more than you can afford to lose 😉
Thanks to our partner:
Highest Yields: BlockFi at 8.50% APY, Nexo Lend at 8% APY
Cheapest Loans: Aave at 4.23% APY, Compound at 4.24% APY
MakerDAO Updates
DAI Savings Rate: 0.00%
Base Fee: 0.00%
ETH Stability Fee: 5.50%
USDC Stability Fee: 0.00%
WBTC Stability Fee: 4.50%
Highest Yields: Celsius at 8.88% APY, Ledn at 8.50% APY
Cheapest Loans: Compound at 3.91% APY, Aave at 4.25% APY
Total Value Locked: $82.09B (down -1.31% since last week)
DeFi Market Cap: $126.27B (down -0.02%)
DEX Weekly Volume: $15.5B (down -9.09%)
DAI Supply: 5.84B (up 1.21%)
Total DeFi Users: 3,267,260 (up 1.24%)
[Fabian Klauder – DeFi Times] – Why Is ETH A Scarce Asset?
[Ben Giove – Bankless] – The Liquidity Singularity
[Anthony Sassano – The Daily Gwei] – An EIP-1559 Update – The Daily Gwei #321
[Helena Flack – Centrifuge Blog] – Going, going…. Gone! Why parachains auction slots are crucial for the future of blockchain development
[Dennis Suslov – Dose of DeFi] – Can USD-independent stable assets survive – and thrive?
Alex is a Content Writer at Circle, with previous experience at tech startups, Fortune 500 corporations, and as a freelance writer and analyst. Interests include cutting-edge technologies in blockchain, energy, supply chains, transportation, urban living, and more and he has been in the crypto community since 2014.
To the DeFi group,
This week, Aave introduced plans for extra sturdy cross-chain governance because the Ethereum group supporting the preliminary Aave framework department out to different chains and L2 options. The announcement was additionally paired with information that Aave will open supply the Aave UI, permitting anybody all over the world to contribute to, make the most of, and spin off from the prevailing interface.
Aave launched cross-chain governance module that allows multi-chain protocol governance.🔥
additionally feat. open sourcing the Aave consumer interface to decentralize the event of the consumer expertise 👻 https://t.co/PT9t327Uui
— stani.jpg (👻,🐻❄️) (@StaniKulechov) August 26, 2021
Sushiswap joined the Avalanche Rush challenge, with the 2 protocols pledging $7.5 millon every for liquidity mining incentives for AVAX and SUSHI pairs over a 3 month interval, with the precise beginning date to be introduced quickly. Sushiswap has now been deployed on 20 blockchains, making it simply one of the prolific DeFi companions within the business.
Simply in time for @SushiSwap‘s 1st birthday.
It is unimaginable to see a community-centric challenge discover success. It simply goes to point out how decentralized tech can maximize collaboration.
$15M is now dedicated to #AvalancheRush because of Sushi and #Avalanche! https://t.co/1QoG37pHKC
— Emin Gün Sirer🔺 (@el33th4xor) August 24, 2021
Pyth Community launched its mainnet beta, bringing oracle pricing information for greater than 30 belongings together with cryptocurrencies, conventional equities, commodities, and fiat currencies to the Solana blockchain. Pyth has partnered with dozens of institutional information suppliers to ship correct pricing information, with updates each 400ms and lots of extra belongings to come back.
Since our introduction to the world, now greater than 4 months in the past now, we’re ecstatic to lastly launch this new oracle answer to the @solana mainnet and allow any builders to leverage HiFi value feeds to construct the way forward for finance!🎉🥳https://t.co/gQjbWwWSUb
— Pyth (@PythNetwork) August 26, 2021
And Ribbon Finance introduced the Ribbon V2 launch, bringing larger decentralization to and governance controls to options-strategy vaults. The transition to V2 will probably be gradual as many options are extremely experimental, with preliminary V2 vaults rolling out with conservative caps on funding and a restricted entry testing interval.
Immediately we’re tremendous excited to announce Ribbon V2 🎀
Ribbon V2 is a large enchancment to the present vaults, and introduces a bunch of latest thrilling options 👇 https://t.co/rU2IDMuXxZ
— Ribbon Finance (@ribbonfinance) August 23, 2021
After years of ready within the wings, crypto is now totally within the highlight of US legislators and regulators as DeFi and crypto capital markets proceed to quickly broaden. It’s additionally forcing ‘decentralized’ finance protocols to take their governance and accessibility extra critically, after regulator callouts noting that in some features, together with front-end UI entry and token distribution buildings, many initiatives are nonetheless extremely centralized.
There are a selection of approaches to avoiding the wrath of regulators and DeFi protocols proceed to boost funds and scale, from altering jurisdictions to open sourcing giant swathes of beforehand proprietary code to cut back central factors of failure. However in the long term, new laws are certain to emerge, and even totally decentralized protocols will probably must work together with regulatory buildings ultimately.
The state of affairs can appear intimidating, however the potential for abuse by means of cash laundering, financing unhealthy actors, and manipulation by malicious market members is just too nice to disregard. Plus, establishments won’t ever become involved in a significant capability with out regulatory blessings.
The method will take years or many years, and the profitable blue-chip protocols of at this time are the almost definitely to succeed at turning into really integral elements of the worldwide economic system. And, there’ll at all times be crypto innovation on the bleeding fringe of expertise and creativity the place the adventurous can play, study, and gamble. Simply don’t make investments greater than you possibly can afford to lose 😉
Due to our associate:
Highest Yields: BlockFi at 8.50% APY, Nexo Lend at 8% APY
Least expensive Loans: Aave at 4.23% APY, Compound at 4.24% APY
MakerDAO Updates
DAI Financial savings Fee: 0.00%
Base Payment: 0.00%
ETH Stability Payment: 5.50%
USDC Stability Payment: 0.00%
WBTC Stability Payment: 4.50%
Highest Yields: Celsius at 8.88% APY, Ledn at 8.50% APY
Least expensive Loans: Compound at 3.91% APY, Aave at 4.25% APY
Complete Worth Locked: $82.09B (down -1.31% since final week)
DeFi Market Cap: $126.27B (down -0.02%)
DEX Weekly Quantity: $15.5B (down -9.09%)
DAI Provide: 5.84B (up 1.21%)
Complete DeFi Customers: 3,267,260 (up 1.24%)
[Fabian Klauder – DeFi Times] – Why Is ETH A Scarce Asset?
[Ben Giove – Bankless] – The Liquidity Singularity
[Anthony Sassano – The Daily Gwei] – An EIP-1559 Replace – The Every day Gwei #321
[Helena Flack – Centrifuge Blog] – Going, going…. Gone! Why parachains public sale slots are essential for the way forward for blockchain improvement
[Dennis Suslov – Dose of DeFi] – Can USD-independent steady belongings survive – and thrive?
Alex is a Content material Author at Circle, with earlier expertise at tech startups, Fortune 500 companies, and as a contract author and analyst. Pursuits embrace cutting-edge applied sciences in blockchain, power, provide chains, transportation, city dwelling, and extra and he has been within the crypto group since 2014.
