Crypto Great | Bitcoin | DeFi

2022-08-21 12:11:44 Uniswap (UNI)

In last month’s portfolio update, we wrote about Uniswap’s goal of becoming a multi-chain trading platform. The community recently passed proposals that will streamline Uniswap’s deployment on the Harmony and Celo blockchains.

This month, the team has its sights set on deploying Uniswap V3 on Moonbeam. Moonbeam is a smart contract platform in the Polkadot ecosystem. It features seamless compatibility and interoperability with Ethereum’s ecosystem.

This compatibility makes it easy to re-deploy existing Ethereum applications to Moonbeam (and thus, Polkadot) without significantly altering the codebase.

At the beginning of the month, Nomad and Blockchain submitted a proposal at Berkeley to deploy Uniswap on Moonbeam – Polkadot’s parachain.

The Nomic Foundation, a nonprofit organization that builds long-term infrastructure and encourages organic growth in the Ethereum tooling ecosystem, has committed $2.5 million to the Uniswap Grants Program. This capital is to fund the future growth of the multi-chain Uniswap ecosystem.

Uniswap is diving headfirst into the multi-chain world. Users are flocking to the most popular DEX (decentralized exchange) in DeFi.

Uniswap V2 and V3 are processing around $1.4 billion in daily volume, which is roughly 36% of the total DeFi market volume according to crypto data aggregator, CoinGecko. With Uniswap deploying on Harmony, Celo, and now Moonbeam, we expect volume on the platform to grow exponentially, leading to higher token prices. Open / Comment

2022-08-14 13:29:41 KeeperDAO (ROOK)

Since September 2021, we’ve been following the development of KeeperDao’s Act IV, the Coordination game. The community and developers around the world have been experimenting and enhancing this new feature to find any value that’s able to be extracted from the DeFi ecosystem.

On April 3, The KeeperDao community passed a proposal to relay all GMX oracle updates through the KeeperDAO Coordination protocol to discover and settle OEV (Oracle Extractable Value).

This will bring more value to the protocol and its liquidity pool. In return, this will enhance returns for liquidity providers while preventing costs imposed onto users by third parties. GMX is a leading decentralized spot and perpetual futures exchange, processing approximately $30 million in daily volume on Arbitrum and $10 million in daily volume on Avalanche.

Oracles on GMX are supported by Chainlink, which source price updates from a number of decentralized venues. Because price updates occur per-block, depending on the network, there is a time period where you can create arbitrage opportunities before the price is reported to the next block.

By relaying all GMX price updates through the Coordination Game feature, it can find significant changes in the price between updates and can create opportunities for arbitrage when the update occurs.

The value of this arbitrage, along with related opportunities such as liquidation resulting from the same phenomenon, has been termed Oracle Extractable Value.

The KeeperDao Community is ecstatic about this historical integration. It represents the first application of the KeeperDAO Coordination protocol on both an Ethereum Layer-2 (Arbitrum), and a non-Ethereum blockchain (Avalanche). Open / Comment

2022-08-09 18:59:44 Breaking: Blockchain Devs Build Alternate Website To Counter U.S. Ban
https://bit.ly/3zIngcO Open / Comment

2022-08-07 11:20:38 ​​Compound (COMP)

Compound is an algorithmic, autonomous interest rate protocol built for developers that’s designed to unlock the DeFi universe.

However, recently the Compound team realized that its rewards distribution program has a problematic effect on COMP’s price. This is because most COMP rewards are instantly sold off.

Instead, Compound wants to use these tokens to grow the protocol.

To do so, Compound created a rewards adjustment proposal that aims to start a new rewards program with the sole purpose of kickstarting new markets. The goal is to cut existing rewards by 50%, and eventually to end COMP farming.

COMP tokens will no longer be diluted as the rewards cut ends the rampant inflation the network has been experiencing.

This is a smart change, and will help relieve selling pressure on the COMP token, which will result in more sustainable growth for the project and its token price.

In other news COMP has now been listed on Robinhood, a popular stock trading app with 22.5 million users. This brings more eyes and awareness onto the Compound protocol which may lead to more demand for COMP tokens.

More importantly, this may lead to a bigger trend of traditional stock brokerage firms, such as Charles Schawb, adopting crypto. This would bring a huge influx of new users onto crypto
and potentially Compound. Open / Comment

2022-08-01 22:35:11 Breaking: Petition Seeking SEC Chair Gary Gensler Resignation Picks Pace
https://bit.ly/3PQu1jA Open / Comment

2022-07-31 13:28:02 Badger DAO (BADGER)

Badger DAO is dedicated to building products to bring bitcoin to DeFi.

This month, Citadel DAO deployed its treasury into Badger-built vaults to ensure the treasury is receiving yield through battle-tested strategies from day one.

DAO’s are essentially a digital community with a shared bank account and governance. We believe these token-governed marketplaces have the potential to replace company boards in the future.

Citadel DAO is a sub-DAO of Badger that aims to become the largest community owned bitcoin treasury actively earning yield.

This strategy allows Citadel’s partners and community members to have a say in the direction of Citadel’s treasury.

Therefore, the more bitcoin that Citadel accumulates, the more protocols will find value in building Citadel treasury strategies.

As such, we envision a future where Badger will want to direct a portion of Citadel’s bitcoin treasury to themselves to help bootstrap BTC liquidity. In turn, this will generate yield on Citadel’s position while simultaneously supporting Badger DAO.

Not only is this integration generating more usage for the Badger DAO platform, it’s also generating revenue that can be used to continue building Badger DAO. Open / Comment

2022-07-21 11:09:09 BTC Dump Sets Off Bull Trap Warning, Here’s Why You Should Be Careful
https://bit.ly/3B28Hmu Open / Comment

2022-07-19 11:48:03 ​​Saffron Finance (SFI)

Saffron Finance is a protocol that allows users (i.e. liquidity providers) to customize risk and return profiles with the use of SFI pool tranches.

The transition to Saffron Finance V2 has officially begun. Last month, Saffron’s smart contracts withstood intense scrutiny and passed rigorous security assessments done by ZOKYO. ZOKYO builds, secures, and incubates blockchain solutions for startups and enterprises worldwide.

Soon after passing the security audit, the Saffron team launched four staking pools on KuCoin Community Chain (KCC).

In last month’s portfolio update, we wrote about Saffron’s goal to increase its multichain presence and expand further into the DeFi ecosystem.

In conjunction with the deployment on KCC, Saffron launched its new V2 website. The site is designed to expedite new integrations, improve interconnection with other crypto applications, and provide more informative features. All of which will benefit users significantly.

To bring more value to Saffron, the team is working to attract more users to the platform by lowering fees when trading and interacting with smart contracts. To achieve this, Saffron is providing its services on as many blockchains as possible.

Deploying SFI pool tranches on multiple chains will also expand Saffron’s network and capture more liquidity from the broader DeFi ecosystem. With cheaper fees coming to Saffron we expect volume to increase drastically over the coming months. Open / Comment

2022-07-18 11:58:33 India’s Central Bank Is Keen to Ban Cryptocurrencies, Says Finance Minister
https://bit.ly/3ObXIdb Open / Comment

2022-07-14 05:59:51 Breaking: Is Celsius Selling All Withdrawn stETH To Coinbase Custody?
https://bit.ly/3AKj66a Open / Comment